Dear Crypto-lovers! Or is it Crypto-haters atm? :(
Let's jump in. We are taking a look at the 1D ADABTC Chart. So as you can see, ADA has fared better than BTC the last 3 days. That is pretty unusual in a market with uncertainty and disbelief. So what is going on?
So April the 5th Cardano will have a Road Map Update. That is some Fundamental stuff we need to be aware of. They might come with good news or bad news. I don't know. If they announce that they have to postpone some of their implementations or integrations on their platform it can have a negative effect on the price. And vice versa.
But let's take a look at the chart. We are still in the downtrend channel, and at this very moment we are caught inside a symmetrical triangle - which is neither bullish nor bearish. MACD and RSI is showing bullish signs, BUT we have the downtrend resistance line right above our head, which is a killer.
This is in fact a pretty interesting moment for Cardano. The next couple of days will reveal a direction. Will we break through and up from the triangle and the resistance line? It seems like a struggle. Or will we continue our path further down in the channel?
This moment is pretty indecisive, everything taking into consideration.
I want you to give you a reminder - Bitcoin is still the dictator, and as I have stated many times before usually BTC will fare better than the the other altcoins when we are in a bear market with uncertainty. And TA alone will not change this. So if Cardano will reveal something really interesting April the 5th we might see Cardano shoot up.
If not - ADA will most likely continue its journey down until Bitcoin will start to go into an uptrend and kick some trust into the market again! If ADA manage to break out, you might want to get long - but wait for confirmation and good volume.
D4 loves you <3
Please give a BIG LIKE and - And I will promise to send you a virtual hug back again :)
Bình luận
⋅
Cardano is fighting Bitcoin! It's a tough match, if we manage to go through this triangle and resistance line, we might get long, with a tight stop loss.
D4 loves you <3 Remember to give a LIKE, guys. I hope you will have a nice weekend!
Bình luận
⋅
Houston, ready to take off!
Bình luận
⋅
Let's see if we can get this one going. We are getting strong support on EMA100. If we break through here, we will close our position.
Remember to give a LIKE <3
Bình luận
⋅
Just a little reminder when I told you to buy ADA Cardano 12 days ago! 30 % profit!
Thank you for sharing. ADA is a potential threat to the alternative big players, which could explain the price action over the last few months. If you look at the order books the players in the market have been pumping and dumping ADA over short time frames. I have taken all my ADA off exchanges and keep them on the official Daedalus wallet.
Given the effect of Mt. Gox sell-off on all cryptos, I believe ADA is like a coiled spring that eventually will bounce higher than before. The IOHK team is one of the best, if not the best cryptos teams out there.
Raca77
⋅
I've been playing this card grom the bottom up... I really believe in this and Stellar to get in the play for long.
evgeny.shibanov
⋅
Can't really compare those 2 pairs. Rather compare ada/usdt vs btc/usdt. Because otherwise it's synthetic fx vs baseline.
Ada in usd terms has lost 90% vs top whereas btc so far only 2/3. So ada is a clear loser in you analysis.
Furthermore, for fundamental analysis it makes no sense to look at synthetic rates as they are only derivatives: if ada grows in usd term - a sign of fundamental difference, whereas btc in usd terms declined the synthetic rate will be positive. And vice versa.
You are right about btc sentiment power, but it's fundamental baseline first and synthetic afterwards
enjotel
⋅
I think Cardano is the most promising project in the whole space. Best technology will succeed.
Given the effect of Mt. Gox sell-off on all cryptos, I believe ADA is like a coiled spring that eventually will bounce higher than before. The IOHK team is one of the best, if not the best cryptos teams out there.