Cardano (ADA) Slips Below $0.25 as Analyst Jesse Olson Flags Two More Downside Targets

Cardano (ADA) gave up the $0.25 level on Monday, Oct. 12, and the immediate question is whether the pullback stays contained within a larger recovery. The token was changing hands near $0.242 at the time of writing, down about 5.1% over the past 24 hours, after the Oct. 12 daily session printed a high of $0.2561. Round-number thresholds like $0.25 are commonly treated as psychological reference points in technical analysis, which is part of why moves through such levels tend to draw attention from traders.

Olson Points to Further Downside Levels

Market analyst Jesse Olson has flagged two more downside targets for ADA following the loss of the $0.25 line, adding to the price levels he is tracking while the token trades below the round-number threshold. Published chart levels like these give market participants concrete prices to monitor in upcoming sessions, and for readers following this setup the lost $0.25 line plus the two flagged targets now form the immediate map of reference points.

Session Snapshot

• Price at time of writing: near $0.242
• 24-hour change: about -5.1%
• Oct. 12 session high: $0.2561
• Level lost: $0.25

Background on Cardano

Cardano is a proof-of-stake blockchain platform founded by Charles Hoskinson, a co-founder of Ethereum. The network launched in 2017, activated staking with the Shelley upgrade in 2020, and introduced smart-contract functionality through the Alonzo hard fork in 2021. Its native token, ADA, is used to pay transaction fees, participate in staking, and take part in on-chain governance, and it has ranked among the largest cryptocurrencies by market capitalization for much of its history. The token's all-time high, set in September 2021, sits above $3, well above the current price area.

Source

This content was first published on COINOTAG: https://en.coinotag.com/jesse-olson-flags-two-more-cardano-ada-downside-targets