Cardano ABC Elliott Wave Correction Almost Complete

Cardano appears to be entering the later stages of a multi-year corrective structure, with prices now approaching a support region.

Cardano (ADA) trades at $0.16, down a staggering 32% in the past month. According to recent monthly chart analysis, the trend is part of a broader ABC Elliott Wave pattern on the monthly chart.

Cardano ABC Pattern Nears Conclusion

Notably, the structure started to take shape after Cardano hit its peak price of $3.10 in September 2021. Specifically, Wave A took the price to a low of $0.23 two years later, before wave B saw a notable rebound to the December 2024 high of $1.32.

Now the final wave C is in motion and could be concluding soon. Meanwhile, this leg down has a 5-wave sub-trend. The first sub-wave took ADA to $0.50 in February 2025, then the second spurred a rebound to $1.02 in August 2025.

Wave (3), which has been the steepest decline, dragged Cardano to the previous cycle lows near $0.22. While much of the expected decline has already happened, the structure suggests the corrective phase may not be fully complete just yet.

Cardano Wave (4) Relief Rally Hasn’t Happened

Notably, the ongoing dip is strange, as it negates the normal proceedings of wave C’s sub-waves. Per the wave development, there should be a relief rally on wave (4) before the final leg down.

Normally, this should have happened when Bitcoin rebounded from $60,000 in February to $82,000 in May. Instead, ADA continued to weaken without many signs of recovery. As such, the sub-wave is still in the third stage, and Cardano could see a short-term rebound.

Correction Targets Long-Term Support Zone

The corrective wave C targets a multi-year support level near $0.10, last seen in November 2020. This zone represents one of the most important technical areas on Cardano’s long-term chart and could become a key battleground between buyers and sellers.

For long-term holders, a return to this historically significant price level may present an opportunity to buy Cardano at a low price. Notably, several analysts have discussed the great risk-to-reward that ADA presents to those who would buy at the current level or slightly lower. One such outlook outlines a possible 6,000% portfolio growth should the coin reclaim key levels from here.

At the same time, declining prices are rarely comfortable and often test the conviction of holders. However, this market phase usually comes before a bottom forms.

For now, Cardano appears to be leaving exchanges, suggesting dip buying. Data from Coinglass shows that in the past 24 hours, ADA spot outflows were $22.5 million and inflows were $21.27 million, showing a netflow of $1.25 million withdrawn from trading platforms to self-custody or third-party wallets.