Cardano price risks 30% drop in Q2 despite a ‘major’ hard fork ahead

2022.04.16 16:56

Cardano price risks 30% drop in Q2 despite a ‘major’ hard fork ahead

Cardano’s (ADA) price risks undergoing a severe correction in the next few months despite touting its blockchain network’s bolstering growth and a “major” hard fork event in June.

ADA, which makes up about 1.75% of the total crypto market capitalization, has been trending lower since September 2021 inside a “descending channel” pattern that has successfully capped its multiple upside attempts, as illustrated in the chart below.

Source