ADA Long Scenario
ADAUSD Signal- Entry - $0.5
- Target - $2
- Invalidation - $0.1
- Risk to reward ratio - 3.6
Technical confirmations
- Price already reached 0.618 Fib zone and continue to decline.
- We expect price to reach 0.786 and maybe 0.886 zones.
- There's liquidity at $0.77 so it is a good target for price to continue falling.
- Aroon indicator shows a strong bearish momentum on a daily timeframe and losing it's momentum on a weekly timeframe which indicates that the price is going to reverse soon.
Fundamental confirmations
Why should price reach Entry level?
- ADA TVL fell from 323 to 199 million in one month.
Why should price reach Target level?
- Cardano increased block size to enhance Dapp performance.
- 1 of top 3 coins to buy and hold for ever according to "Investorplace".
- NFT and DeFi projects being built on the net.
- Vasil Hardfork launch in June, 2022.
- TVL rise from 822k million to 199 million since January 1, 2022.
- During the Basho development phase, the ledger continues to optimize and scale for the growing demand. Along with parameter adjustments and node upgrades, Plutus capability continues to develop at a steady pace.
Disclaimer: We are expecting price to rise after the Vasil Hardfork launch.
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