CryptoPAMM

Cardano VS Ethereum, How Far UP?

Long
BITTREX:ADAETH   Cardano / Ethereum
Cardano has bottomed out at ETH 0.00026 forming a bullish divergence on the RSI oscillator. Price then started to move up, breaking above the downtrend trendline and the 50 Moving Average, suggesting the continuation of a long-term uptrend.

Considering the statistics of cryptocurrencies rising in x10 encasement, the nearest upside target of ADA/ETH is seen at ETH 0.0028, that is just over 10 times the price of the recent  bottom, which was ETH 0.00026. Also, the target level corresponds to the 261.8% Fibonacci retracement level.

The x10 growth is expected during the currently starting wave up and should be the very first upside target. Break above it could send the price much higher, but it yet to be seen if the resistance will be rejected or not.
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