Logo
Cardano Ecosystem

BitcoinEthereumNews

11/21/2022

·

228 views


Prominent Trader Sees Cardano (ADA) Collapsing to $0.16

The post Prominent Trader Sees Cardano (ADA) Collapsing to $0.16 appeared on BitcoinEthereumNews.com. Alex Dovbnya The Cardano (ADA) cryptocurrency could experience another 50% drop In a recent tweet, popular pseudonymous trader il Capo Of Crypto predicts that the price...

Prominent Trader Sees Cardano (ADA) Collapsing to $0.16

Alex Dovbnya

The Cardano (ADA) cryptocurrency could experience another 50% drop

In a recent tweet, popular pseudonymous trader il Capo Of Crypto predicts that the price of the Cardano (ADA) cryptocurrency might potentially plunge to the $0.16-$0.20 range.

ADAImage by tradingview.com

At press time, ADA is trading $0.32 on major spot exchanges after declining 11.6% over the past week. 

The native cryptocurrency of the Cardano blockchain would have to decline by 50% in order to reach the aforementioned price target. 

The strong $0.316 support level is now in the crosshairs of Cardano bears.  

ADA has already declined a whopping 89.38% from its record high of $3.09 that was achieved last September. It has now formed another “Burj Khalifa,” a pattern jokingly named after the world’s tallest skyscraper in Dubai.

As dramatic as that drop might seem, it pales in comparison to the previous bearish cycle. In March 2020, ADA was trading at just two cents, which marked a 98.3% decline from the cryptocurrency’s cycle peak of  $1.18 that was logged on Jan. 4, 2018. 

ADA saw some semblance of bullish momentum ahead of the Vasil hard fork, but then it started declining together with other cryptocurrencies.   

Source: https://u.today/prominent-trader-sees-cardano-ada-collapsing-to-016

Post navigation

AD

Proposals Catalyst F14 - Cast your vote, search "Otavio" in the Voting App.

If you are you using your ADA to vote in Cardano’s Project Catalyst don’t forget to voice your vote. We would be excited if you can see, comment, share and vote for us. Tip: To find them its easiest to search for "Otavio"Vote for Us


Read Original Article on BitcoinEthereumNews

ORIGINAL SOURCE

https://bitcoinethereumnews.com/technolo...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


More from BitcoinEthereumNews

See more
Cardano (ADA), Solana (SOL), and TMS Network (TMSN) Offer Exciting Opportunities for Crypto Investors in Q3 2023 – Cryptopolitan - BitcoinEthereumNews.com
BitcoinEthereumNews
Cardano (ADA), Solana (SOL), and TMS Network (TMSN) Offer Exciting Opportunities for Crypto Investors in Q3 2023 – Cryptopolitan - BitcoinEthereumNews.com

03/15/2023

·

1.7K views

Related News

See more
Voting for Us - Catalyst Fund 14

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)