Cardano (ADA) Should Have One More Major Price Drop, Peter Brandt Says

Wed, 09/14/2022 - 20:19

Longtime commodity trader Peter Brandt believes that the ADA price will head lower if this bearish pattern plays out

Cardano (ADA) Should Have One More Major Price Drop, Peter Brandt Says

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Longtime commodity trader Peter Brandt has opined that the ADA price will likely plunge lower.

Brandt has pointed to the fact that the token is in the process of forming a descending triangle on its daily chart.

If the bearish pattern ends up playing out, the ADA price will likely have “one more significant decline.”

Ethereum Merge Is Just Hours Away, but ETH Price Remains in Red

The native cryptocurrency of the Cardano blockchain is currently trading at $0.47 on the Binance exchange.

The upcoming Vasil upgrade, which is scheduled on Sept. 22, is expected to be a significant bullish catalyst for the ADA token, but it may struggle to buck the broader bearish trend.

#Cardano Price Prediction #Peter Brandt

About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.