So based purely on fundamentals Cardano is still my favourite shitcoin :) lol such a lovely phrase.
Normally I don't care about fundamentals because even the most ridiculous tweet can set off a stampede of buying in cryptoland, but on paper this project is way ahead of the curve. They're playing the long game. Looking years ahead, not just months. They have very active research which they pursue on a rigorous peer review basis and take part in high-level cryptography conferences.
So what about the chart? Right now the market is still correcting. Bitcoin will go up and down over the next weeks. This will affect all coins to a greater or lesser extent. ADA is holding its own, but the current triangle formation looks like its turning bearish. If we have a break down then I see a course through the Ichimoku cloud down to the 0.5 level of the pitchfork. We stopped back here in Dec 2017 and I think a bounce here is in order. If the market correction turns more severe, then ADA will continue down to the bottom trendline. A definite buy in both cases.
Normally I don't care about fundamentals because even the most ridiculous tweet can set off a stampede of buying in cryptoland, but on paper this project is way ahead of the curve. They're playing the long game. Looking years ahead, not just months. They have very active research which they pursue on a rigorous peer review basis and take part in high-level cryptography conferences.
So what about the chart? Right now the market is still correcting. Bitcoin will go up and down over the next weeks. This will affect all coins to a greater or lesser extent. ADA is holding its own, but the current triangle formation looks like its turning bearish. If we have a break down then I see a course through the Ichimoku cloud down to the 0.5 level of the pitchfork. We stopped back here in Dec 2017 and I think a bounce here is in order. If the market correction turns more severe, then ADA will continue down to the bottom trendline. A definite buy in both cases.
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Bounce nicely on pitchfork 0.5 level, think it will continue down (bearish cross forming)
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ADA keeps flirting with danger. It's below its support line on the pitchfork. If it falls should bounce pretty hard on the bottom pitchfork line - that would make a sweet scalp.
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Well 2 weeks is a long time in crypto, seems like months since I started really following ADA's decline. It continues to drop after breaching the pitchfork line. I have noticed an interesting similarity between the pattern of ADA and Bitcoin's hype curves in December. It seems they are extremely similar with with ADA delayed by about 3 to 4 weeks.
Looking at ADA anyway I suspect a large drop to come, probably breaking the last pitchfork support. This could see the price returning to the 600 to 900 sat range. This is confirmed by comparison with Bitcoin in my opinion.
Looking at ADA anyway I suspect a large drop to come, probably breaking the last pitchfork support. This could see the price returning to the 600 to 900 sat range. This is confirmed by comparison with Bitcoin in my opinion.
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No longer updating this. Please see
RSI < 40 and steep
ADA will dropping fast