New Cardano Update Is Released: Where Can ADA Go?

There are new updates regarding a Cardano set of changes that hit the project. Check out the latest reports about ADA below.

At the moment of writing this article, ADA is trading in the red, and the coin is priced at $0,357.

A popular crypto analyst is warning Cardano holders. He was recently saying that ADA is on the verge of collapsing as bearish momentum continues to build up.

In a new strategy session, Jason Pizzino said that ADA’s price might drop into the lower $0.30 range or even much less. This could reportedly happen as the coin breaks one support area after another.

“I don’t think ADA is going to hold out. I don’t think it’s going to be back above $0.60 anytime soon. Back down at $0.36, this is much, much, much weaker. Look at that low that came in in May ($0.40). You can see that it’s fallen beneath it, acted as resistance now on the daily chart, and any sort of moves up that happens with Bitcoin (BTC) might be overall less to the upside.”

He continued and explained the fact that when Bitcoin falls or has its usual corrections, it’s going to be a hard hit in ADA.

He said that we could witness such moves “because it’s in a far weaker position overall in the macro chart here, and I still think ADA is looking like it’s going to be falling into these teens ($0.17) to lower $0.30 areas.”

Cardano (ADA) co-creator Charles Hoskinson has just addressed a far-reaching vision of the future for crypto assets.

In a new video update, Hoskinson said that crypto projects like ADA could one day become the world’s system of finance. It’s also important the fact that he notes that the US government needs to adopt favorable crypto regulations for this to ever become a reality.

Check out our previous reports in the article that we shared not too long ago.