Cardano (ADA) Faces Key $0.247 Monthly Support as May Close Nears

Cardano's ADA has trended lower since last August and is now approaching a pivotal monthly support at $0.247. If May closes below that level, analyst Ali Martinez says ADA could enter a deeper downside phase, with next targets at $0.113 and $0.051. ADA was trading around $0.237 at the time of writing, up more than 2% over the past 24 hours.