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A popular cryptocurrency analyst has warned Cardano holders that ADA is on the brink of collapse as the bearish momentum continues to build.
In a new strategy session, Jason Pizzino To tell His 276,000 YouTube subscribers believe the price of ADA could drop to the low $0.30s or even higher.
I don’t think ADA will hold up. I don’t think it will go above $0.60 anytime soon. It’s below that and we can see it acting as a resistance on the daily chart, and any sort of rally happening in Bitcoin (BTC) may not be all that much of an upside overall.
And when Bitcoin falls with these corrections, it will hit ADA hard as it is in a much weaker overall position on the macro charts here. ) reduces the region by $0.30.
At the time of writing, ADA is trading at $0.37.
Pizzino said one of the ADA’s chances of preventing a collapse is if it rises sharply this month.
The only thing that can save ADA from this is if it rises above all previous support levels relatively quickly during October, then rises above $0.40 and begins to hold firmly above $0.40. Until then, the ADA will probably be in trouble and probably get their heads down.”
Pizzino also has his eye on Ethereum (ETH), which he says is starting to move after posting several bullish lows.
It should kick in a little bit relatively soon. It’s good to see the closing price above $1,280, which is a good sign. I am thinking. [this] week. Otherwise, its slightly lower price ($1,190) could be a problem. However, it is at least away from the specific lows of $1,000 and $880.
At the time of writing, ETH is trading at $1,336.77.
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Featured image: Shutterstock/mialapi/Mingirov Yuriy
