Longtime commodity trader Peter Brandt believes that the ADA price will head lower if this bearish pattern plays out
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Longtime commodity trader Peter Brandt has opined that the ADA price will likely plunge lower.
Brandt has pointed to the fact that the token is in the process of forming a descending triangle on its daily chart.
If the bearish pattern ends up playing out, the ADA price will likely have “one more significant decline.”
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The native cryptocurrency of the Cardano blockchain is currently trading at $0.47 on the Binance exchange.
The upcoming Vasil upgrade, which is scheduled on Sept. 22, is expected to be a significant bullish catalyst for the ADA token, but it may struggle to buck the broader bearish trend.
