Cardano (ADA) may not make it to $0.40

Due to the bearish market conditions, Cardano (ADA) price growth risks missing an important target, failing another attempt to reclaim $0.40 as a support level.

However, investors still have a chance to make an impact if they show enough optimism.

ADA price outlook: downside ahead

At the time of writing, Cardano is trading at $0.34. However, the aforementioned conditions create a disappointing outlook, suggesting a potential drawdown to $0.32 or lower, which would send the altcoin back into consolidation.

However, if selling pressure begins to build, ADA could bounce off support and continue to rally, negating the bearish scenario.