ADA has a strong support at $1 area, which I think will hold if BTC decides to go further down.
Projects and Milestones/Roadmaps for ADA this year might bring more demand that can launch the price higher, I personally expect a new ATH for ADA this year.
Max (45B), Total (34B), and currently Circulating Supply (33.5B) of ADA can also be brought into consideration.
They are relatively small compared to other coins, which make it easier for ADA to rise in price, and harder to go down, if the demand supports.
In my opinion, Cardano is the safest investment among other coins, considering the volatility of cryptocurrency market.
In case it doesn't hold, I won't be surprised if ADA plummets to $3, as there is no strong support between $0.3 and $1.
If ADA reaches this point, I consider it a safe long entry, even with leverage (I strongly believe it will do a correction back above S1).
This is not a financial advice, it is simply my opinion.
Please do your own research before taking any action.
Projects and Milestones/Roadmaps for ADA this year might bring more demand that can launch the price higher, I personally expect a new ATH for ADA this year.
Max (45B), Total (34B), and currently Circulating Supply (33.5B) of ADA can also be brought into consideration.
They are relatively small compared to other coins, which make it easier for ADA to rise in price, and harder to go down, if the demand supports.
In my opinion, Cardano is the safest investment among other coins, considering the volatility of cryptocurrency market.
In case it doesn't hold, I won't be surprised if ADA plummets to $3, as there is no strong support between $0.3 and $1.
If ADA reaches this point, I consider it a safe long entry, even with leverage (I strongly believe it will do a correction back above S1).
This is not a financial advice, it is simply my opinion.
Please do your own research before taking any action.
NOT A FINANCIAL ADVICE
DO YOUR OWN RESEARCH
YOUR MONEY IS YOUR OWN RESPONSIBILITY
DO YOUR OWN RESEARCH
YOUR MONEY IS YOUR OWN RESPONSIBILITY