Can ADA successfully break ATH?
ADA is now trending towards ATH's of around $1.50
Key Points to take into account that contributed towards this movement
Two Key Scenarios to take into account
With the significant increase in volume, google trend searches, price increase, and listing on Coinbase Pro, there will be a lot of hype from consumers and investors.
Key Points to take into account that contributed towards this movement
- ADA getting listed on Coinbase Pro on March 18th 9AM PST has contributed significantly towards the recent increase in volume and price. With this being said, the new exchange listing will bring a lot of new buyers into the space and with that publicity. But there are still unconfirmed reports that ADA will be listed on the regular version of Coinbase. The platform that most casual investors use to purchase crypto.
- One bit of information that isn't being discussed more is the upcoming 'Africa Special' keynote. This is significant because Charles Hoskinson will be the keynote speaker and he will be discussing the benefits of adoption amongst many African nations.
Two Key Scenarios to take into account
With the significant increase in volume, google trend searches, price increase, and listing on Coinbase Pro, there will be a lot of hype from consumers and investors.
- A break above $1.50 and failing to his support trending downwards back towards $1.20 area
- A break above $1.50 with strong support and consolidation potentially creating an accumulation phase for the next leg upwards towards $1.60-$2.00
- Failing to break $1.50 and then strong selling back towards $1.20 to $1.00 area like we have seen before when ADA first hovered around the $1.48=$1.50 area.
My personal opinion is that ADA will reach $1.50 this week and consolidate its price around this level to form strong support due to the increase in demand and the strong decentralization of this cryptocurrency (currently 94%) shows strong demand for staking.
What do you all think? These are just my personal thoughts and I am curious what others in the community think also. Thank you all for reading!
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