Cardano Plunges Below Critical Support – Is $0.50 a Real Possibility?

Cardano (ADA) experienced a sharp drop below a key support level today, raising concerns about a potential decline towards the $0.50 mark. Following its rejection at the $0.70 resistance earlier in the week, ADA has faced intense selling pressure, leading to its breach below the ascending wedge support on the 4-hour chart. This triggered significant liquidations and pushed the price down into the $0.62 to $0.63 demand zone, previously a short-term base during late May but now under renewed pressure. 💰