Jason Pizzino Crypto Analyst Warns Investor That ADA May be in Trouble.

Jason is Youtuber and a Crypto Analyst. He has around 276K active subscribers on his channel.

A famous crypto analyst and a YouTuber is warning the users and investors of Cardano(ADA) about the downtrend movement of the ADA token.

During a new strategy session, Jason Pizzino informed his followers on Youtube that the ADA price may drop into the lower $0.30 range or even go down because it broke the support level one after another.

Jason noted that “I don’t think ADA is going to hold out. I don’t think it’s going to be back above $0.60 anytime soon. Back down at $0.36, this is much, much much weaker. Look at that low that came in in May ($0.40). You can see that it’s fallen beneath it, acted as resistance now on the daily chart, and any sort of moves up that happen with Bitcoin (BTC) might be overall less to the upside.

And when Bitcoin falls – has those corrections, it’s going to be a hard hit in ADA because it’s in a far weaker position overall in the macro chart here, and I still think ADA is looking like it’s going to be falling into these teens ($0.17) to lower $0.30 areas.”

Jason noted that if the prices of ADA rise, it will be safe from collapse; if not, it will collapse.

“The only thing that can save ADA from this is if it gets back above all of those previous support levels relatively quickly within October and then back above $0.40 and starts to consolidate above $0.40. Until that happens, ADA is probably in trouble and probably going to head lower.”

Pizzino is also tracking Ethereum (ETH), which he says is starting to come to life after posting several Bullish Higher Low setups.

“It just needs to get a bit of a kick on relatively soon. It’s good to see that the closes are remaining above $1,280. That’s a good sign to see, and now we want to see it just bounce away when the volume comes back [this] week. Otherwise, that little bit of a low ($1,190) could be in trouble. However, at least we’ve moved away from these particular lows here at a $1,000 and $880.”

According to the data from CoinMarketCap while writing this article Ethereum is trading at $1,300.

Cardano continues to lose momentum as price trades in the falling channel. ADA bulls lose their strength, and the coin has been facing selling pressure since mid of AUG.

The coin is trading below the 20EMA showing harsh selling in the last months, approaching the lower base. The price is now at its yearly lows with low volumes, signifying that the coin is fully under bear arms.

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