Cardano price has fallen below $0.24 after reversing its early October rally, with weakening daily momentum and an analyst’s ascending-channel warning putting $0.21 back in focus. Summary Cardano price traded near $0.236, down about 9.2% from its weekly opening price. Daily RSI fell to 48.06, while price slipped below the $0.2483 Bollinger midpoint. Ali Martinez identified $0.21 as a possible downside level following an ascending-channel rejection. Weekly Supertrend resistance stood at $0.2762, above ADA’s attempted recovery. TradingView’s Binance ADA/USDT data showed Cardano trading at $0.2359 on Oct. 9, recovering modestly after a sharp sell-off. The daily session ranged between $0.2313 and $0.2415, with ADA up 1.59% from its opening price. The rebound followed a much larger retreat from the weekly high. TradingView’s weekly chart recorded a high of $0.2824 and a low of $0.2238, leaving ADA near $0.2358 and down 9.2% against its weekly opening price. Measured from the weekly high, Cardano had lost approximately 16.5%. Its bounce from the weekly low amounted to about 5.4%, leaving the recovery well short of the preceding decline. Cardano’s channel rejection puts $0.21 in focus Analyst Ali Martinez identified a rejection at the upper boundary of an ascending channel on Cardano’s daily chart in an Oct. 8 post. His analysis placed the channel’s lower boundary near $0.21 and made a move toward that level conditional on the rejection holding. The channel illustration marked intermediate levels near $0.23 and $0.256, with the upper region around $0.29. ADA’s subsequent move below $0.24 left it closer to the lower marked levels than to the area where the analyst identified the rejection. A decline from $0.2359 to $0.21 would amount to roughly 11%. Before reaching that level, ADA would encounter the recent weekly low at $0.2238, an observable reference from the latest sell-off. Jesse Olson also pointed to weakening daily momentum in an Oct. 9 post. He said Cardano had shown bearish divergence several days earlier and that a sell signal, together with a candle close below his trend dots, had preceded two targets being reached. Olson identified a lower yellow zone as a possible retest area. His warning and Martinez’s channel analysis both described downside setups, although they used different chart tools and conditions. A recovery above $0.24 would reverse the immediate loss of that price level. TradingView’s daily readings place another reference higher, near $0.2483, before ADA reaches the $0.256 region marked in Martinez’s chart. Daily RSI slips below 50 as ADA loses its midpoint TradingView’s daily chart showed Cardano’s relative strength index at 48.06, below the neutral 50 level. The RSI also sat beneath its displayed moving average of 59.88 after falling sharply from its early October readings. Cardano price daily chart — Oct. 9 | Source: TradingView The daily Bollinger Bands placed the 20-day simple moving average at $0.2483, the upper band at $0.2700 and the lower band at $0.2276. ADA traded below the midpoint and approximately 3.6% above the lower band. The midpoint stood around 5.3% above the latest price. A move back to that average would recover part of the recent decline, while the upper band remained approximately 14.5% higher. On the downside, the lower Bollinger Band and the weekly low formed two nearby references at $0.2276 and $0.2238. Martinez’s $0.21 scenario lies below both. The daily chart also showed that the latest retreat followed a recovery from the June lows, when ADA traded around $0.14–$0.15. Despite the October reversal, the price remained above that earlier trough. Weekly resistance remains near $0.276 TradingView’s weekly Supertrend remained red at $0.2762, above Cardano’s latest price. The weekly high of $0.2824 briefly exceeded that level before ADA retreated beneath it. Cardano price weekly chart — Oct. 9 | Source: TradingView At $0.2358, Cardano would need to rise roughly 17% to reach the Supertrend line. The daily upper Bollinger Band at $0.2700 sits slightly below that weekly reference. The weekly Awesome Oscillator showed a positive reading of 0.0120, giving a different momentum reading from the daily RSI below 50. The positive oscillator coincided with price remaining beneath the weekly Supertrend. The longer-term chart showed ADA’s recovery from its midyear low, but the latest weekly decline interrupted that advance. The $0.2700–$0.2824 area now contains the daily upper band, weekly Supertrend and recent weekly high. Liquidation bands sit above and below ADA’s rebound CoinGlass’s one-month liquidation heatmap showed visible concentrations around $0.23–$0.24, with further bands below near $0.215–$0.22. Above the latest price, brighter concentrations appeared around $0.257–$0.26 and $0.28. Cardano liquidation heatmap | Source: CoinGlass The heatmap traced ADA’s early October rise toward $0.28, followed by its sharp fall toward $0.224 and a partial recovery near $0.24. Its lower concentrations overlap the price region between the recent weekly low and Martinez’s $0.21 channel target. For US investors using exchange-traded exposure, Volatility Shares’ Cardano ETF provides ADA-linked exposure through instruments rather than directly holding ADA, according to the issuer. Its product disclosures identify price volatility and rebalancing among the fund’s risks. Cardano’s immediate recovery references remain $0.24 and the $0.2483 daily midpoint. Below the market, $0.2276 and $0.2238 precede the conditional $0.21 downside level identified by Martinez. Disclosure: This article does not represent investment advice. 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