Main navigation

ADA Prints New ATH of $2.18, While Peter Brandt’s Chart Shows Possible Rise to $2.26

News
Sat, 05/15/2021 - 07:56
article image
Yuri Molchan
ADA has reached a new all-time high, rising to $2.18, while Peter Brandt’s chart suggests he may be expecting the coin to hit $2.26
ADA Prints New ATH of $2.18, While Peter Brandt’s Chart Shows Possible Rise to $2.26
Cover image via stock.adobe.com
Read U.TODAY on
Google News
Contents

Four hours ago, Cardano’s native cryptocurrency, ADA, reached a new historic peak, surging 17 percent to hit $2.18, as per the data shared by the CoinMarketCap platform.

Meanwhile, old-school savvy trader Peter Brandt has shared a chart that suggests ADA is likely to keep rising and reach the $2.26 level.

7638_1
Image via CoinMarketCap

New all-time high for ADA

Despite the overall sell-off in the crypto market and in particular Bitcoin being unable to recover the $50,000 level at the moment after the infamous tweet by Elon Musk, Cardano’a ADA has gone up to a new all-time high of $2.18.

In the past twenty-four hours, the fifth largest cryptocurrency (the level ADA just regained earlier this week) has soared more than 17 percent.

As reported by U.Today earlier this week, in a Twitter thread, the Cardano Foundation made a case for Tesla to embrace ADA after Elon Musk addressed the carbon footprint issue and Bitcoin miners contributing to it heavily.

The previous ATH was reached back in early January 2018 - $1.9.

Related
Cardano Foundation Says ADA Is Perfect Match for Tesla as Token Defies Crypto Crash with New All-Time High

Peter Brandt’s ADA chart - a potential rise to $2.26

In a Cardano graph, a savvy commodity trader Peter Brandt has explained how he “ballparks” targets in all markets he trades on, including the crypto market.

As an example, he showed the ADA/USD pair, showing that he might be expecting the fifth largest crypto to hit $2.26.

“When pattern width <15% of underlying price target should be a 2X measurement”

The legendary trader has also revealed some of his trading strategies, or rather, methods he is not keen on. In particular, he has revealed that he does not use Fibonacci extension levels.

7638_0
Image via Twitter
article image
About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.