Cardano course in danger: Analyst sees a negative pattern originated

The broad pessimism on the cryptomarkt also pushes the Cardano (ADA) course down. While investors hope for recovery, analyst Wiverriders warns against further falls. He sees a worrying technical pattern on the graph, a formation that led to significant losses in the past.

Cardano forms Beerarish ‘Double Top’

According to the well -known analyst Wiverriders, Cardano has recently formed a so -called ‘bearish double top’. This pattern arises when the course reaches a similar highlight twice, but is unable to break through it. This usually counts as a strong sales signal. The tops were created on 13 and 18 September around the $ 0.95 and $ 0.93 respectively.

According to the analyst, the momentum is currently clearly with the sellers. Further decreases therefore seem plausible, certainly in the light of earlier courtyard patterns. In May and August this year, after a similar Double Top, Ada dropped to $ 0.51 and $ 0.78 respectively.

First crash, but then rally for Ada

However, analyst Henry Terver also offers a spark of hope. Just like Wiverriders, he first provides a sturdy fall for Cardano, possibly below 0.75 dollars. That correction would amount to a loss of approximately 8.5 percent compared to the current price level around $ 0.82.

But the positive comes after Terver afterwards. He expects a powerful recovery in the second half of October or November, followed by a persistent increase towards a new all-time high. The previous peak was at 3.09 dollars, which would mean that Ada has an explosive rally ahead.

Cardano stays behind, but can it surprise?

In addition to technical developments, the fundamental aspect also plays a major role. In that area, Cardano is currently lagging behind larger players such as Solana (SOL) and Ethereum (ETH), who have benefited from a wider adoption for years. For example, on Cardano there is currently only around $ 330 million in capital fixed in decentralized finance (Defi) protocols. For comparison: at Solana this is 12.1 billion dollars, and even more than 90 billion dollars at Ethereum.

However, in the future that image can just turn, because Cardano consciously follows another development route. Founder Charles Hoskinson has been insisting on the importance of the long term for years.

The network opts for a scientific approach, in which each technological step is extensively investigated and formally validated. As a result, innovations often take longer, but according to proponents this results in more stability and sustainability. Hoskinson has even stated that Cardano can overtake both Ethereum and Bitcoin (BTC) in the long term.