[DigitalToday reporter Yoonseo Lee (이윤서)] An analysis says Cardano (ADA) has entered the later stage of a prolonged downward correction. The price is nearing the key support zone in the $0.10 range. The report also pointed to the possibility of a short-term rebound and signs of tokens leaving exchanges.

On June 19, blockchain media outlet The Crypto Basic reported that ADA fell below $0.16 and was down about 32 percent over the past month.

The decline was presented as part of a long-term ABC Elliott Wave correction on the monthly chart. The corrective structure gained momentum after Cardano hit a peak of $3.10 in September 2021. Wave A pushed the price down to $0.23 two years later, and Wave B then extended a rebound to $1.32 in December 2024.

The report said the final Wave C is now under way. This downtrend is divided into five sub-waves. The first sub-wave slid to $0.50 in February 2025, and the second rebounded to $1.02 in August 2025. The third wave, described as the steepest drop, then pulled ADA down to around $0.22, the prior cycle low.

Another assessment said the current move differs somewhat from a typical Wave C pattern. In the wave structure, a temporary rebound in a fourth wave should follow the third decline, but ADA stayed weak even as Bitcoin rebounded from $60,000 in February to $82,000 in May. The explanation said the decline is not fully over, but a short-term rebound remains possible.

Over the longer term, the area around $0.10 was presented as a key zone. It is a level not seen since November 2020 and was cited as one of the most important technical support areas on the long-term chart. It could become a major price area where buying and selling clash.

Market reaction is mixed. Among long-term holders, there is a view that a return near historic lows could be a chance to buy at lower prices, but some analysts said the risk-reward ratio is large if entering at current levels or below.

The report also presented an optimistic scenario that portfolio value could rise by as much as 6,000 percent if ADA regains key price levels. It also said the current downtrend is a phase that tests holders' conviction and reflects a typical pattern seen before a bottom forms.

In fund flows, tokens moving off exchanges were confirmed. CoinGlass data showed ADA spot outflows of $22.5 million and inflows of $21.27 million over the past 24 hours. Net outflows totaled $1.25 million, meaning more tokens moved from trading platforms to personal custody wallets or third-party wallets. Such a pattern is usually interpreted as a "buy the dip" signal.

That leaves two short-term points to watch for Cardano. One is whether a temporary rebound actually appears within the sub-structure of Wave C. The other is whether buying flows into the area around $0.10, cited as long-term support, and can halt the decline.