Cardano's consistent rise continues as it bounces several times from support since last chart.
Targets were achieved on last position but if you are still holding or looking for re-entry (and missed recent dip) -
Here are my thoughts-
Breaking the $1USD barrier was always going to be a challenge- not because ADA doesn't deserve to be there or above, but because it's a mental barrier.
A lot of traders would see that as a position to close (me included- hence last target was 97c
I think that's still short sighted.
Taking profits is wonderful but a large contingent of the ADA community seem to be HODLr's rather than traders.
With the introduction of Staking Options that has most likely proved fruitful in 2 ways.
1) Locked up, can't panic sell. Positive in two ways both for the market stability and the Holder themselves.
2) Accumulation- Staking rewards!
We should all know the market is in "extreme greed" but the question is
- "Does the new money coming to the table change where our Greed levels should be?"
Personally I think the market remains bullish.
I'm being asked by friends and acquaintances more and more about Crypto and see the flood of people to online communities in search of riches.
Previous experience has me trading more cautiously at this time but there still seems to be opportunity.
Here is no different.
If we lose current support there may be some cheaper entry prices but the push to break $1 USD seems unrelenting at this point.
Targets indicated.
As always, this is not financial advice.
Just my own thoughts and TA.
Feedback welcomed.
Bingaz
Targets were achieved on last position but if you are still holding or looking for re-entry (and missed recent dip) -
Here are my thoughts-
Breaking the $1USD barrier was always going to be a challenge- not because ADA doesn't deserve to be there or above, but because it's a mental barrier.
A lot of traders would see that as a position to close (me included- hence last target was 97c
I think that's still short sighted.
Taking profits is wonderful but a large contingent of the ADA community seem to be HODLr's rather than traders.
With the introduction of Staking Options that has most likely proved fruitful in 2 ways.
1) Locked up, can't panic sell. Positive in two ways both for the market stability and the Holder themselves.
2) Accumulation- Staking rewards!
We should all know the market is in "extreme greed" but the question is
- "Does the new money coming to the table change where our Greed levels should be?"
Personally I think the market remains bullish.
I'm being asked by friends and acquaintances more and more about Crypto and see the flood of people to online communities in search of riches.
Previous experience has me trading more cautiously at this time but there still seems to be opportunity.
Here is no different.
If we lose current support there may be some cheaper entry prices but the push to break $1 USD seems unrelenting at this point.
Targets indicated.
As always, this is not financial advice.
Just my own thoughts and TA.
Feedback welcomed.
Bingaz
