Cardano / TetherUSUpdated ADA/USD 2nd Half April Price Forecast, Breakout chances
In this video I look at indicators in several timeframes in the next 1 week to 2 weeks. We have new 1W and 2W candles today, but both are too new to give strong indications, so I look at other timeframes and see a similar pattern for all of them. For the rest of this month we can expect ADA/USD to range in the current channel. Based on the pattern of indicators, a breakout of the current channel in the next 10-14 days is unlikely without broader crypto market changes, change in fundamentals, etc. A break down also does not look likely at this time.
Future Price Volatility
I didn't mention this in the video, but I did want to make a comment about ADA price volatility from May to August. The Alonzo hard fork with smart contracts is the key feature everyone is waiting for. While Polkadot (DOT) is already using its smart contract features, Cardano will get to testnet sometime next month, and not be on mainnet until August, lagging behind the competition. Time will tell if the extra time taken by Cardano will result in a superior solution. Meanwhile ADA should expect occasional rallies, as CH says that he will regularly share news of what is coming this summer rather than wait until smart contracts are on mainnet and release a flood of news. That means more volatility, but also a chance to keep up sentiment while we wait.
Good luck and good fortune!
Future Price Volatility
I didn't mention this in the video, but I did want to make a comment about ADA price volatility from May to August. The Alonzo hard fork with smart contracts is the key feature everyone is waiting for. While Polkadot (DOT) is already using its smart contract features, Cardano will get to testnet sometime next month, and not be on mainnet until August, lagging behind the competition. Time will tell if the extra time taken by Cardano will result in a superior solution. Meanwhile ADA should expect occasional rallies, as CH says that he will regularly share news of what is coming this summer rather than wait until smart contracts are on mainnet and release a flood of news. That means more volatility, but also a chance to keep up sentiment while we wait.
Good luck and good fortune!
Note
Wycoffmode (David Ward) posted an interesting idea today suggesting that AD/USD could reach $3.00 by the 1st of May. He is often quite good at predicting reversals and major moves. I am seeing more downward momentum that needs to exhaust, which may take several days or a week before the pattern David sees kicks in, after which we could see a breakout. I will do a discussion and analysis video at the end of this trading day when we have a couple of candles close.Meanwhile, it may be worth considering possible entry points in the coming days if the reversal plays out.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.