Wednesday, August 19, 2020, at 02:41 UTC marks the next New Moon which are considered bullish. Cardano (ADA) has been in steady consolidation since the recent big BTC drop, tracing a solid Gann Fan support line as it periodically retests $0.14. On Wednesday, Gann support line will intersect the $0.14 price resistance line at the bearish New Moon. The New Moon event will also be preceded by positive news about the release of staking rewards the day prior.
The recent BTC pump and dump after days of consolidation was very disruptive to ADA price action. No bull run for ADA for the moment; not now and not for a while. Cryptos are too closely tied to BTC and the crashing USD which is seeking refuge in BTC. High speed algo trading is creating polarity that challenges harmonic market dynamics. It's literally man vs machine, and the problem is man is running the machines; for the moment.
leroyessel0
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The Cardano, ADA coin on 8/17/2020 at 2:05 AM Pacific Standard Time jumped up in price from $0.1352 as high as $0.14405 in less than a few seconds.
ppip
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@leroyessel0, this is because blocks are being completed and rewards are being given for the first time. As reward continue to be registered I believe there will be more big buys as more serious investors are comfortable with the profitability of the project
leroyessel0
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@ppip, There are 1,000 stake pools and I wonder how many of them will prosper over the next 12 months?