Crypto Expert Predicts 61% Cardano Crash, Urges Massive ADA Short

Up to the end of July, ADA price had been on a wild ride, surging to almost $0.80 on March 14, only to drop to a low of $0.32 by July 5. This was followed by a 42% rebound to $0.45 on July 17, to then be erased as the price settled to a new low of $0.27 on Aug. 5.

The brief rally to $0.40 on Aug 24 lifted hopes that were very short-lived as the price began its reversal, breaking through the psychologically important $0.35 level, which was thought to have marked the beginning of the local uptrend.

Now trading at levels above $0.35, the inability by the altcoin thus far to sustain upward momentum says this cryptocurrency could continue in its bearish phase of potential further declines.