Cardano (ADA) Treads Near Peter Brandts Classic Drop Prediction, Heres Whats Next
Ang merkado ng cryptocurrency bumagsak under selling pressure as investors awaited the U.S. consumer price index data on Thursday. Following the sell-off, ADA dipped to lows of $0.35 while trading at $0.363 currently. At the time of publication, ADA was down 10.53% in the last 24 hours, per CoinMarketCap data. Mga presyo ng ADA have declined steadily in recent months. After topping $0.595 on Aug. 14, the ADA price failed to make further progress as it once again returned to trading beneath a bearish trendline. For veteran trader Peter Brandt, the path for ADAs price remains gloomy as he predicts a further decline below the $0.25 level based on a classic descending triangle pattern. The “descending triangle” chart pattern indicated by the veteran trader refers to a bearish signal that usually forms during a downtrend as a continuation pattern. ADA‘s price is currently at a critical juncture as a further 28% drop from current levels might bring to fruition Brandt’s bearish prediction of sub-$0.25. Meanwhile, the daily RSI has crossed beneath the 30 oversold levels, which implies that ADA might see a relief rally in the near term, or at least a dead cat bounce. Fundamentals stronger than ever Ang Twitter account ni Cardano na