NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market

Why Peter Brandt Thinks Cardano’s Price Is The Definition Of “Ugly”

Reynaldo Marquez
Reynaldo Marquez
3 years ago
2 mins read
Cardano

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Cardano (ADA) has been unable to follow through with its weekend bullish momentum. The cryptocurrency lost last week’s gains and seems poised for further losses as the crypto market trends sideways.

Related Reading | TA: Bitcoin Price Trims Gains, Key Breakdown Support Nearby

At the time of writing, Cardano (ADA) trades at $0.44 with a 5% loss in the last 24 hours.

Cardano ADA ADAUSDT
ADA’s price trends to the downside on the 4-hour chart. Source: ADAUSDT Tradingview

The cryptocurrency is at critical levels as $0.40 was operated as support during these past months’ bearish downside price action. Losing these levels could push ADA’s price back to its 2020 levels.

At that time, the cryptocurrency experienced a massive rally after a long period of sideways movement and consolidation. From 2019 until 2020, Cardano traded below $0.5 and $0.15 which would represent a devasting loss for investors that bought ADA in the past two years.

Legendary trader Peter Brandt suggests ADA could start descending into its 2020 levels. As seen below, Brandt claims that ADA’s price is following a head and shoulders pattern which spells future depreciation for this cryptocurrency.

Cardano ADA ADAUSDT
Source: Peter Brandt via Twitter

The legendary trader called ADA’s price chart “the very definition of ugly” and set $0.40 as a potential price target to the downside.

This head and shoulders pattern could be invalidated if Cardano’s bulls managed to push the price above $0.70 in the short term. Otherwise, there is little support for Cardano below $0.40.

Data from Material Indicators (MI) shows that most of the liquidity for the ADAUSDT trading pair is sitting above $0.44. There are around $1.5 million in bid orders below ADA’s price current levels and around $1 million in asks orders in the opposite direction.

If the price follows the head and shoulders pattern into $0.40, as Brandt suggested, and continues to trend downside there are no bid orders that could operate as support. Therefore, ADA’s price could experience downside volatility.

Can Cardano Avoid A Doom Scenario?

At the same time, ADA’s price records a thin order book to the upside. If the price can sustain its current levels and make a run towards $0.50, there could be a change at invalidating Brandt’s head and shoulders pattern.

Material Indicators record an increase in selling pressure from retail investors. Investors with bid orders of around $1,000 (green in the chart below) have begun buying into Cardano’s price action.

Analysts from Material Indicators believe investors with these bid orders (in green below) are whales camouflaging as smaller investors. The relevance of Cardano’s current levels and the sudden increase in these orders suggests this possibility is likely for short timeframes.

Cardano ADA ADAUSDT
Investors with bid orders of $1,000 (green) buying into ADA’s price action. Source: Material Indicators

Related Reading | TA: Ethereum Revisits Key Support, Can The Bulls Protect More Losses

Maybe these ADA whales have begun accumulating and could be able to defend these levels. In higher timeframes, all investors class have begun selling including investors with asks orders of around $100,000 which supports Brandt’s scenario.

Tweet123Share196ShareSend
Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Ethereum

Ethereum Leads $3.75 Billion Crypto Inflows, XRP And Solana Join The Party

According to CoinShares’ latest Digital Asset Fund Flows Weekly Report, inflows into crypto-products were $3.75 billion last week, the fourth-largest...

Scott Matherson 5 days ago
cardano ada adausd

Cardano Defies Market Pullback: Could On-Chain Momentum Signal a 70% Run Ahead?

While most cryptocurrencies saw steep declines amid a $1.05 billion liquidation wave, Cardano (ADA) stood out as the only top-50...

James Halver 1 week ago
Cardano, ADA, Charles Hoskinson

Cardano (ADA) Remains Green Despite Market Pullback – Is It Ready For A 70% Run?

After hitting a new multi-month high, Cardano (ADA) has retraced alongside the rest of the market. Some analysts suggest that...

Rubmar Garcia 1 week ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Cardano

Cardano Climbs To 8th, Pushing Dogecoin And TRON Down The Ranks

Christian Encila 4 days ago
cardano ada adausd (2)

Cardano Defies Market Dip With 20% Weekly Surge: Analysts Eye $10 Target Ahead

James Halver 4 days ago

Cardano (ADA) Pulls Back, Will Bears Push It Lower Again?

Aayush Jindal 4 days ago

Premium Sponsors

Press Releases

  • Seize the XRP Surge: ETHRANSACTION Mining Platform Allows...

    4 days ago
  • Négy altcoin, amely több mint 200%-os növekedési potenciállal rendelkezik|Új történelmi csúcs a Bitcoin árfolyamában

    Négy altcoin, amely több mint 200%-os növekedési...

    5 days ago
  • Cztery altcoiny z potencjałem wzrostu powyżej 200%|Nowe rekordy cenowe Bitcoina

    Cztery altcoiny z potencjałem wzrostu powyżej 200%|Nowe...

    5 days ago
  • HTX Launches 12th-Anniversary Carnival and Embarks on a New...

    5 days ago
  • 仮想通貨 おすすめ:Token6900が急成長、次のビッグミームコイン候補か?

    TOKEN6900 プレセールが220万ドル突破 –...

    5 days ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.