Longtime commodity trader Peter Brandt believes ADA price will move lower if this bearish pattern follows
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Longtime commodities trader Peter Brandt has said that the price of ADA is likely to decline.
Brandt pointed to the fact that the coin is in the process of forming a descending triangle on its daily chart.
If the bearish pattern ends, “another significant drop” in ADA price is likely.
The native cryptocurrency of the Cardano blockchain is currently trading at $0.47 on the Binance exchange.
The upcoming September 22 Vasil upgrade is expected to be a significant bullish catalyst for ADA token, but it may struggle to break out of a broader bearish trend.