Jason Pizzino Crypto Analyst warns investor that ADA could be in trouble.

  • Jason is a Youtuber and Crypto Analyst. He has around 276,000 active subscribers on his channel.

A famous crypto analyst and a YouTuber are warning Cardano (ADA) users and investors about the downward trending movement of the ADA token.

During a new strategy session, Jason Pizzino informed his Youtube subscribers that ADA price might fall to the lower $0.30 range or even lower as it broke the support level one after another.

Jason noted that “I don’t think ADA will hold up. I don’t think it will get back above $0.60 soon. Going back down to $0.36 is much, much lower. Look at this low that happened in May ($0.40). You can see that it has fallen below, has acted as resistance now on the daily chart, and any kind of upward movement that is happening with Bitcoin (BTC) could be less upside overall.

And when bitcoin falls – with these corrections it’s going to be hit hard by ADA because it’s in a much weaker overall position in the macro chart here, and I still think ADA looks like it’s falling in these teens ($0.17) to reduce areas by $0.30.

Jason noted that if ADA prices rise, it will be immune to the crash; otherwise, it will collapse.

“The only thing that can save ADA from this is if it gets back above all those previous support levels relatively quickly in October, then gets back above $0.40 and starts consolidating above 0. $.40. Until that happens, ADA is likely in trouble and will likely put its head down.

Pizzino is also tracking Ethereum (ETH), which he says is starting to come to life after posting several Bullish Higher Low setups.

“He just needs to pick up some speed relatively soon. Good to see the closes staying above $1,280. That’s a good sign to see, and now we want to see it just bounce back when the volume comes back. [this] the week. Otherwise, this little dip ($1,190) could be in trouble. However, at least we have moved away from these particular lows here at $1,000 and $880.

According to data from CoinMarketCap at the time of writing, Ethereum is trading at $1,300.

Cardano continues to lose momentum as prices trade in the falling channel. ADA the bulls are losing strength and the coin has been under selling pressure since mid-August.

The coin is trading below the 20EMA, showing tough selling over the past few months, approaching the lower base. The price is now at its yearly low with low volumes, which means the coin is fully under bear arms.

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