In this chart, you can see Cardano has been consolidating for a few months now reaching oversold levels on the RSI, as well as reaching the .618 Fib retracement level. For a few days, it has closed under the 200 daily MA just like it happened back in July before exploding up to new time highs. I will currently remain neutral on ADA until a reversal signal is confirmed, however, if it doesn't manage to put higher lows and close above the 200 daily MA there is a risk of continuation towards the downside and a potential death cross. At this time is too early to call however I am anticipating a market rally in December in which ADA will have the chance to turn bullish as all the indicators are currently reaching bearish peaks making it perfect for a reversal.
completely agree but death and golden cross are kind of lagging indicators, I predicted this crash last month as I saw a potential of a death cross(since it is usually a lagging indicator)
trytofeelpositive
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like for me we are still bullish,just waiting my targets
gabrielpardo942
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@trytofeelpositive, I agree with you, overall I am still bullish as we are technically still in an uptrend and in a bull run. I am just being cautious on the daily chart as we haven't seen higher lows in a while. I do like your analysis on ADA though.
trytofeelpositive
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@gabrielpardo942, thanks, need some times and this shit will rise like others)
Shultzz
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@trytofeelpositive that "shit" gain 1300% in year. i think you miss that boat
trytofeelpositive
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@Shultzz, i dont think so, i waiting for atleast get x2 from current price,let's see
Shultzz
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btw alt season its not yet so i dont know what are you expecting