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

2022.04.15 16:21

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

Cardano (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.

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