Since topping around $3 in September, ADA has severely been underperforming other alts. The direction of trading has been virtually only down for the past three months, with no end in sight yet.
I'm looking at two different possibilities. The first one, the best case scenario, would be that ADA will not go any lower from here. The $1.50 support will hold and the daily RSI hitting oversold areas will signal a great buying opportunity for investors. Expect a period of consolidation before going up again.
Worst case scenario would be for the price to continue going down, back into the horizontal channel. A period of trading within the channel might be needed before going up again. Don't expect anything good in the coming two months, might see some bullish pressure into February.
You really think witch such oversold RSI and market sentiment at the moment when BTC is breaking out and also loosing dominance, that ADA will dip to 1 dollar exactly when it is alt season? What makes you think that?
FieryTrading
⋅
@tuncayoner, That's not what I said. I wrote that the most bearish scenario would be for ADA to dip back into the channel, which ranges from $1.00 to $1.50.
Jefe_69
⋅
"(...), might see some bullish pressure into February. " Come on man, it's known BTC usually dumps during the end of the year. It will drag everything with it. There's a bigger chance ADA goes to $1 than $2.
Crypto2357
⋅
What a joke, so cardano will start getting bullish in February bruuh please. If Bitcoin start rallying in dec/Jan of course cardano will follow and most likely outperform Bitcoin.
GlaswegianCamel
⋅
I'll just treat this as a gift! just keep accumulating and HODL!