High-profile crypto trader Jason Pizzino is comparing Cardano’s price action to Bitcoin and other top crypto assets.
Pizzino says Ethereum competitor Cardano (ADA) is holding up well despite the late-May crypto correction that hammered the markets.
Pizzino asserts that ADA is performing well in the short-term against USD, meeting heavy resistance in the $1.80 to $1.90 range and is making higher lows.
The trader expects ADA to do well over the long term against USD, but cautions that the asset’s next leg up may take some time.
“I don’t believe we’re going to be shooting up to new all-time highs and running off to five bucks any time soon. If we do do that, I see that as a much weaker bull market. A stronger bull market is going to keep us in these ranges for a longer period of time so that we can accumulate, reaccumulate, strengthen the base and then take off.”
Pizzino notes that the