Let's jump in. We are taking a look at the 1D ADABTC Chart. So as you can see, has fared better than BTC the last 3 days. That is pretty unusual in a market with uncertainty and disbelief. So what is going on?
So April the 5th Cardano will have a Road Map Update. That is some Fundamental stuff we need to be aware of. They might come with good news or bad news. I don't know. If they announce that they have to postpone some of their implementations or integrations on their platform it can have a negative effect on the price. And vice versa.
But let's take a look at the chart. We are still in the , and at this very moment we are caught inside a symmetrical triangle
- which is neither nor . and is showing signs, BUT we have the downtrend resistance line right above our head, which is a killer.
This is in fact a pretty interesting moment for Cardano. The next couple of days will reveal a direction. Will we break through and up from the triangle and the resistance line? It seems like a struggle. Or will we continue our path further down in the channel?
This moment is pretty indecisive, everything taking into consideration.
I want you to give you a reminder - Bitcoin is still the dictator, and as I have stated many times before usually BTC will fare better than the the other altcoins when we are in a bear market with uncertainty. And TA alone will not change this. So if Cardano will reveal something really interesting April the 5th we might see Cardano shoot up.
If not - will most likely continue its journey down until Bitcoin will start to go into an uptrend and kick some trust into the market again! If manage to break out, you might want to get long - but wait for confirmation and good .
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