ADA/USD Bottomed Out Along the $1.34 Support
Cập nhật
Cardano has been in the news a lot recently, garnering support from prominent investors across the board, with big institutions like Grayscale Digital Assets buying a decent amount of the supply; all patiently waiting for the smart contract upgrade / update.
Around ~70% of the network is currently being staked making passive income, which is a higher % than Ethereum.
Looking at the chart of ADA technically, we see that the absolute bottom was a bounce off the 3.618 Fib level at $1.09 without a daily candle close below.
The bulls would not let the price of ADA dip below $1 and reversed it back upwards to the current Spot trading price we see right now at $1.38.
ADA has regained the 4.236 level as support on this recent move upwards as well as regained access inside this ascending triangle it broke out of before when it hit a local high of around $2.30.
From here, i'm expecting ADA already to have priced in its bottom and continue moving back upwards with the rest of the market -- BTC, ETH as the key markers of price sentiment.
ADA in the coming weeks should turn the $1.48 level of resistance into support and continue climbing upwards towards new local highs when the smart contract upgrade releases.
The main two targets i'm looking for are $1.85 & $2.30. These are key levels that haven't been touched since making the local high back in the middle of May.
As always please do your own research, I am not a financial advisor.
Around ~70% of the network is currently being staked making passive income, which is a higher % than Ethereum.
Looking at the chart of ADA technically, we see that the absolute bottom was a bounce off the 3.618 Fib level at $1.09 without a daily candle close below.
The bulls would not let the price of ADA dip below $1 and reversed it back upwards to the current Spot trading price we see right now at $1.38.
ADA has regained the 4.236 level as support on this recent move upwards as well as regained access inside this ascending triangle it broke out of before when it hit a local high of around $2.30.
From here, i'm expecting ADA already to have priced in its bottom and continue moving back upwards with the rest of the market -- BTC, ETH as the key markers of price sentiment.
ADA in the coming weeks should turn the $1.48 level of resistance into support and continue climbing upwards towards new local highs when the smart contract upgrade releases.
The main two targets i'm looking for are $1.85 & $2.30. These are key levels that haven't been touched since making the local high back in the middle of May.
As always please do your own research, I am not a financial advisor.
Giao dịch đang hoạt động
Quick update on ADA, zooming into the 2-hour time frame, we hit the $1.85 level with ease and are now quickly approaching the $2.30 level. I'm expecting a little bit of a pullback going into weekly close to print the bottom wick, and then from there ADA should continue upwards to September 12th when smart contracts are released. There will be a push running up to the event just like what happened with Ethereum and ADA should touch $2.30 again.
Thank you
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.