Ethereum Drops 5% But the Bull Cycle is Still in Play, Cardano Faces Continued Price Suppression

The crypto market is facing a steep correction after its recent price pump, ignited by liquidations of more than $647 million over the last 24 hours. Due to the correction, the Ethereum price has plunged by more than 5%, briefly hitting lows of $4,400. 

Analysts believe even though the drop has occurred, the Ethereum bull cycle is still to play. In the meantime, Cardano (ADA) has been undergoing strong price suppression, and a colossal breakout or fall could happen depending on how it reacts to the support at the $0.800 mark.

Ethereum Faces Steep Correction, But Could Pump To New ATH Soon

This week, the Ethereum rally was stopped at the $4,750 range after facing a solid rejection. Consequently, the price of Ethereum corrected by over 4 percent to fall as low as $4,400, after which it recovered above the support zone around $4,500.

As a result of the decline, Ethereum has experienced the biggest liquidations over the last 24 hours. According to CoinGlass, Ethereum accounts for $179.83 million of the $647.3 million liquidations recorded in the crypto market over the last 24 hours. 

Despite the massive pullback, analysts are optimistic that the Etherem bull cycle is still in play. FOUR | Crypto Spaces explained in an X post that $ETH has retested its trendline support, which held perfectly. The analyst adds that this means that the next rally is officially underway.

ZYN adds that $ETH is nowhere near a top in this bull market cycle. According to the analyst’s prediction, since 2017, every ETH top has happened when it has touched an ascending trendline. The next possible touch of the trendline could happen at $9,000, which is an increase of 100% from ETH’s current price. 

Cardano Faces Continued Price Suppression, But Breakout is Near

Unlike most top altcoins, Cardano (ADA) has struggled to maintain a consistent bullish momentum. The price of Cardano has fallen by 6% year-to-date, while the likes of BNB have formed numerous new highs in 2025. Cardano has faced multiple rejections between $0.90 and $1.  

Top market analyst Dan Gambardello explained that after the 2018 bear market, it took Cardano 714 days to break out of its consolidation. Based on this pattern, Cardano should have broken out of the 2023 bear market lows in May this year.

However, the Cardano price has been facing suppression, with Gambardello citing massive price manipulation as one of the reasons. The analyst adds that since Cardano lost the former support area around $0.90, it now sits in bearish territory. 

He predicts that if bulls don’t regain control of the market, ADA may test lower support areas around $0.62. However, he believes ADA won’t correct that low. However, if the first breakout finally happens, and Cardano forms a clear top above $1, it could rally first to $2.1. The analyst places his high target for Cardano as high as $12. 

In Summary

Ethereum and Cardano are currently on two different paths. While the bull cycle is clear for Ethereum, with tops as high as $9,000, Cardano bulls would need to work to push the price of $ADA clearly above the $1 resistance before any meaningful rally can begin.