ADA May Be Forming a Wave 4 Price Top Near $0.48

• In a recent technical update, More Crypto Online highlighted a possible price top forming in wave 4 for Cardano. The current ADA structure reflects a corrective phase following a strong impulsive advance, with price struggling to regain key resistance levels on the short-term timeframe.

• The chart shows Cardano trading near the $0.42 area after pulling back from a recent high close to $0.48. Several Fibonacci retracement levels are clearly marked, with price currently holding below the 38.2 percent and 50 percent retracement zones. This behavior aligns with a corrective wave environment, where upward momentum fades and sellers remain active near resistance. The highlighted resistance box above price continues to cap upside attempts, limiting bullish continuation for now.

• From a structural perspective, the wave labeling suggests ADA may be completing wave 4 within a broader Elliott Wave sequence. Price has found interim support in the $0.40 to $0.41 range, corresponding with the 61.8 percent Fibonacci retracement level. While this zone has so far prevented a sharper decline, the absence of a decisive rebound keeps the near-term outlook cautious. The market appears to be consolidating rather than initiating a new impulsive move.

The current ADA structure reflects a corrective phase following a strong impulsive advance, with price struggling to regain key resistance levels on the short-term timeframe.

• This development matters for the Cardano market because wave 4 phases often act as transition points between trend continuation and deeper corrective movement. As long as ADA remains below the highlighted resistance area and fails to reclaim the $0.44 to $0.45 region, price action is likely to stay range-bound or vulnerable to further downside. The current setup underscores the importance of Fibonacci levels and wave structure in evaluating Cardano’s short-term price behavior.

My Take: The $0.40-$0.41 support zone is critical here. If ADA breaks below the 61.8% Fibonacci level decisively, we could see a move toward $0.38. However, a bounce from current levels with volume could invalidate the wave 4 top thesis and push price back toward $0.45-$0.48.

Source: More Crypto Online