Veteran forecaster and trader Peter Brandt will subject a caution to Cardano holders while stating that the fifth-largest cryptocurrency can be on the edge of the following Litecoin’s 2018 price route.
The popular crypto strategist also said to his more than 540,000 Twitter group that the Cardano can be at the summit of the price variety and is going to face a possible downtrend. It will be similar to that of Litecoin flashed during the elevation of the 2018 bear marketplace.
According to the chart issued by Brandt, Cardano is going to produce a large technological turnaround figure in the form of a head and shoulders outline with a collar or desirable support area at $1.00. The traders will see in front, and shoulder pattern as a sign of a threatening tolerate market, and a move below the pattern’s neckline at $1.05 will be similar to Litecoin’s 2018 path when it has broken the hold up for $105. Fellow crypto analyst Capo also decided with Brandt’s assessment but said that Cardano should receive the hold up before a turnaround can take place.