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Cardano price has weakened after a recent trendline rejection, with analyst Dan Gambardello outlining three possible downside targets. The altcoin dropped over 3% on Thursday, losing critical support zones and moving averages. Despite the drop, the analyst noted the potential for a rebound, though bearish indicators dominate.

Immediate Fibonacci Support Under Pressure

The Cardano price fell sharply after failing to reclaim the lower trendline near $0.90 earlier this month. As a result, the price broke below both the 20-day and 50-day moving averages this week. Currently, ADA trades between the $0.810 and $0.785 range, aligning with the 0.786 Fibonacci support.

Dan Gambardello identified this Fibonacci range as the first and nearest support level for the Cardano price. “A rebound from this area could reset momentum,” he said, but added that selling pressure remains. If the Cardano price breaks below this zone, further downside could follow quickly.

CRYPTO'S Massive Momentum Signal Is Building Into 2026 (REPEAT MOVE)

Intro 00:00
Perspective 00:10
Crypto momentum 1:40
Ethereum targets 6:15
Cardano targets 9:10 pic.twitter.com/gzHda2TLhm

— Dan Gambardello (@cryptorecruitr) October 9, 2025

If Cardano fails to hold the Fibonacci support, Gambardello sees the 200-day moving average at $0.74 as the next key level of resistance. A drop to this level would mean a 9.4% correction from the current Cardano price of $0.817. Historically, the 200-day average has acted as a critical long-term support zone.

The market has shown signs of broad weakness, dragging major altcoins, including Cardano, into correction territory. The analyst noted that if sentiment worsens, this average may be tested soon. This would mark the second significant drop since ADA peaked earlier in the year.

However, any reaction around this moving average could indicate a shift in momentum or more selling. The trend remains bearish, and any move must be confirmed with sustained price action. Traders are observing closely for any signals near this long-term average.

Cardano Price Could Signal Bullish Reversal

The last support target shared by Gambardello is the mid-$0.60s zone, especially around $0.62. This level would signal a deeper correction in the Cardano price if reached. The analyst noted, “I do not want to see this happen, but it’s a technical support.”

Such a decline would represent a significant breakdown, confirming broader bearish momentum across the crypto market. ADA would need strong support from buyers to avoid slipping this far. A fall to $0.62 would mark a nearly 24% drop from recent levels.

Despite the pessimism, Gambardello did not entirely rule out a recovery in the Cardano price. A reversal could form if ADA rebounds from the current Fibonacci zone and breaks above the lower trendline. For now, reclaiming $0.87 would signal early strength, offering signs of renewed bullish intent.

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