Cardano is on the verge of completing a bullish triangle pattern, which it has formed steadily since the start of 2021.
With the rejection of the lower trend support line early this morning, little stands in the way of ADA to reach the upper resistance of the triangle. Beware that the price can reverse sharply after reaching the upper resistance.
On the chart, I’ve marked two potential areas of resistance, R1 and R2. These areas are based on recent swing highs and round numbers. Do your own due diligence.
would that be related to the "pump and dump" hype strategy?
FieryTrading
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@victorvp2017, What do you mean?
Lypzis
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@FieryTrading, I've been reading spam on reddit groups about pumping this coin...
blakhawk
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@victorvp2017, the landscape has changed somewhat in recent weeks with reddit groups trying to initiate pumps and dumps. I have been with ADA since 2017 and never really seen a pump and dump as we've seen recently with DOGE and XRP.
DC92T
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@victorvp2017, ADA is most likely moving because Grayscale opened up a Trust for ADA a week or 2 ago. It is not an artificial pump IMO...
FindTheSun
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@victorvp2017, yes, be careful . still ADA is good project and this more organic growth then what happened to Ripple yesterday