Hi guys/gals,
Tools I use:
In this analysis I go through the ADA chart from the weekly chart to what we see here.
ADA took of on a massive tare to the upside around q1 of '2021 and never came back to back test. This is why we are seeing a sharp drop in price as the value could not be sustained that high for to long.
What I am seeing in my charts is that those who bought ADA prior to '2021 are now questioning their holdings and as you can see I've used faces to show what I believe to be the greed, concerned and upset/angry emotions.
We have recently fallen below the happy holders (the red zone) and they are how questioning their position, for me to see the lows to form in ADA we need to see these holders sell their bags indicating to me we have capitulated.
If price falls lower I'm expecting those questioning their bags to become upset and possibly angry selling at a loss and into the long term holders hands.
How much lower could ADA go it's hard to say but I believe it is not far possibly in a 3-6 month time range.
I could see ADA fall to between $0.20 - $0.10 in reality it could just go to $0.00 but I would not expect that to happen but its not out of the question.
As always Be smart, Invest small & preserve your hard earned capital.
Stay safe,
Crypto Leonard
P.S. This is NOT financial advice please DYOR.
Tools I use:
- time based fib extension
- fib retracement
- EMA/MA's
- question marks
- exclamation marks
- faces
In this analysis I go through the ADA chart from the weekly chart to what we see here.
ADA took of on a massive tare to the upside around q1 of '2021 and never came back to back test. This is why we are seeing a sharp drop in price as the value could not be sustained that high for to long.
What I am seeing in my charts is that those who bought ADA prior to '2021 are now questioning their holdings and as you can see I've used faces to show what I believe to be the greed, concerned and upset/angry emotions.
We have recently fallen below the happy holders (the red zone) and they are how questioning their position, for me to see the lows to form in ADA we need to see these holders sell their bags indicating to me we have capitulated.
If price falls lower I'm expecting those questioning their bags to become upset and possibly angry selling at a loss and into the long term holders hands.
How much lower could ADA go it's hard to say but I believe it is not far possibly in a 3-6 month time range.
I could see ADA fall to between $0.20 - $0.10 in reality it could just go to $0.00 but I would not expect that to happen but its not out of the question.
As always Be smart, Invest small & preserve your hard earned capital.
Stay safe,
Crypto Leonard
P.S. This is NOT financial advice please DYOR.
