ADA (Cardano) is on a good path right now. With Shelley testnet due to be released in June. The chart, to me anyway, seems to be showing a very bullish momentum. If you look at the various Support and Resistance areas and the rising channel plus all the fundamentals coming out this next few weeks/months. Stoploss at $0.0560 or for longterm safety $0.0325. Next target should be at least $0.15.
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The Cup and Handle is looking like it's complete...just need to break above that resistance of $0.0950 and we should see some lovely bullish action.
Rumours of the Shelley Testnet being released Mid June will be the main focus and will help keep the momentum going once we break. Rumours suggesting 17th June.
If we don't break, I expect a big drop down to $0.0620 level.
If that doesn't hold...
...and if we get bad news or more delays, we could see the price go back down to its lows around $0.03 or worse.
Rumours of the Shelley Testnet being released Mid June will be the main focus and will help keep the momentum going once we break. Rumours suggesting 17th June.
If we don't break, I expect a big drop down to $0.0620 level.
If that doesn't hold...
...and if we get bad news or more delays, we could see the price go back down to its lows around $0.03 or worse.
We can see that ADA is hitting RESISTANCE around the $0.10 mark again.
However, if we hit through this, ADA should go on a nice BULLISH run.
Next target where I expect strong RESISTANCE is $0.15
After that, the next RESISTANCE should be around $0.30-0.35
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