AltcoinsPrice Analysis

Cardano Price on the Brink of Crashing Down! ADA Price Predicted to Hit $0.50 if Falls Below $1

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Cardano price has seen a lot of negative swings below the $1.50 and $1.40 levels in the last several days. Even the $1.30 support zone and the 55 simple moving average were broken by ADA.

The latest drop has accelerated below the $1.20 support level. The bears appear to be in charge, as the price has dropped to as low as $1.077. The present market activity shows that additional losses are likely below $1.08.

Near the $1.05 level, there is immediate support. Near the $1.00 level, the key support is found. The bears will be in full control if the price breaks below $1.00. In the above scenario, the price could potentially fall to $0.80 in the near future.

Near the $1.12 level, there is immediate upside resistance. The first big resistance level is at around $1.15. A clean close above $1.15 might trigger a significant surge and put the $1.20 resistance level to play. 

ADA Price can crash to $0.50 if it Plunges below $1 

Adding to the already bearish sentiment is a prediction for ADA by a famous Bitcoin maximalist. He has warned ADA holders of a potential nosedive that is due for the token.

Max Keiser, a prominent Bitcoin maximalist, financial expert, investor, and RT host, took to Twitter to express his thoughts on ADA’s potential short-term path.

Keiser warns that ADA could tumble down to $0.50 if the $1 support level is not defended by the bulls. 

ADA is currently trading at $1.03 down by 12.1% in the last 24 hours. 

However, Keiser has always been skeptical of ADA and other altcoins, arguing that Bitcoin is the only true and worthwhile cryptocurrency available.

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and 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.

Haripriya Sureban

A writer and a Crypto fanatic exploring the DeFi Space. Staying abreast on all the crypto trends and trivia is my forte. For the rest I nerd out on movies and series.

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