Cardano ready to follow Litecoin’s price trajectory in 2018, according to veteran trader Peter Brandt

Veteran analyst and trader Peter Brandt is warning Cardano owners that Litecoin, the fifth-largest cryptocurrency, could be on the verge of following its 2018 price trajectory.

The popular crypto strategy is informing its 549,300 Twitter followers that Cardano may be at the top of its price December and may show a downward trend similar to that with Litecoin (LTC) in the middle of the 2018 bear market.

 

I remember being mercilessly mocked when I set this peak at $ LTCUSD in mid-2018

Hey, Cardano trolls $ ADAUSD, aim… pic.twitter.com/3gytNHW4cR

– Peter Brandt (@PeterLBrandt)July 30, 2021

Under the Brandt scheme, Cardano can print a large technical inversion figure with neck or main support area as a head and shoulder shape for about $ 1.00. The head and shoulder model is often seen by traders as a sign of an impending bear market. The move below the pattern neck could confirm Brandt’s forecast for a fall of $ 1.05, similar to the fall that Lightcoin supported at $ 105 in 2018.

Fellow crypto analyst Capo agrees with Brandt’s assessment, but says Cardano needs support before the turnaround takes place.

“That support needs to be supported, I agree with you. And it will probably last.”

Brandt’s Cardano says the smart contract platform, which takes a contrasting stance against the downward trend on crypto strategist and trader Michael Poppe, could rise by 800% if it gains significant levels against bitcoin.

“If we’re going to hit a bottom in Satoshi’s 2800 zone [about$ 1.16], we could trade 170% and usually trade more than 190% in a pair of bitcoins.

I also hope to estimate the value of bitcoin against the US dollar well. So if we are in this region (us $ 0.00008 or 3.17 for ADA/BTC), it would probably cause the value of the US dollar [ADA] to change by 400-800%, especially given that the Sunday will heat up again.”

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