Cardano cryptocurrency - is it time to buy ADA ?
Updated
The last time we made a global ADAUSDT forecast 5 months ago and as it turned out on the absolute price highs and roughly speaking all this time the price of ADA was fallen from $3 to $1
We tweaked the dynamic channels a bit from the previous idea and this is what we get:
On the one hand, the ADAUSD price has bought back up for the eighth time from the powerful $1-1.10 liquidity zone and organized a 50% bounce because buyers understand that this zone is critical for a global trend reversal.
On the other hand - the dynamic trend line was able to break through downwards with the 5th time and in the last days/weeks there were two retests from below for strength of this trend line and the sellers have not let the price go higher yet.
There are some rough estimates of possible price movements on the chart.
At the moment, crypto market move in flat till this time, and they will squeeze out all the juices from small participants with anarchic moves up and down, knocking out stops.
Only if the price of ADAUSDT rises above $1.75, it will be possible to buy carefully long.
In the meantime, the only thing we can say with certainty is that below $1 for Cardano token a real rapid super plunge may begin, because the chart below is empty, with no support, down to $0.35-0.40. Of course, no one wants this development for sure, but we don't control the market. Forewarned is forearmed
_____________________
Since 2016, we have been analyzing and trading the cryptocurrency market.
We transform our knowledge, trading moods and experience into ideas. Each "like under the idea and comment" boosts the level of our happiness by 0.05%. If we help you to be calmer and richer - help us to be happier :)
We tweaked the dynamic channels a bit from the previous idea and this is what we get:
On the one hand, the ADAUSD price has bought back up for the eighth time from the powerful $1-1.10 liquidity zone and organized a 50% bounce because buyers understand that this zone is critical for a global trend reversal.
On the other hand - the dynamic trend line was able to break through downwards with the 5th time and in the last days/weeks there were two retests from below for strength of this trend line and the sellers have not let the price go higher yet.
There are some rough estimates of possible price movements on the chart.
At the moment, crypto market move in flat till this time, and they will squeeze out all the juices from small participants with anarchic moves up and down, knocking out stops.
Only if the price of ADAUSDT rises above $1.75, it will be possible to buy carefully long.
In the meantime, the only thing we can say with certainty is that below $1 for Cardano token a real rapid super plunge may begin, because the chart below is empty, with no support, down to $0.35-0.40. Of course, no one wants this development for sure, but we don't control the market. Forewarned is forearmed
_____________________
Since 2016, we have been analyzing and trading the cryptocurrency market.
We transform our knowledge, trading moods and experience into ideas. Each "like under the idea and comment" boosts the level of our happiness by 0.05%. If we help you to be calmer and richer - help us to be happier :)
Note
This previous idea was supposed to be on top of this idea
Trade closed: target reached
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okx.com/join/20PSTRADE
🔥V-I-P cutt.ly/PwkLhT56
👍Daily bitcoin reviews here💲 cutt.ly/3wnaaG4s
🔵Telegram t.me/pstrade_eng
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