Cardano’s price has surged 140% in November, mainly driven by Donald Trump’s reelection.
However, some indicators suggest that much of these gains may soon fade.
ADA is showing signs of potential downside risk, with a bearish “rising wedge” pattern forming on its four-hour chart.
This pattern, characterized by upward-sloping converging trendlines, often signals a reversal to the downside.
If ADA breaks below the wedge’s lower trendline, it could fall as low as $0.598 in the short term, or even $0.513 in a more extreme bearish scenario for November-December.
