A clean daily view of spectrum prices with some basic structure support. Please review previous ADA postings ---
MA's in use on this chart: 12 day / 60 day / 200 day
Please give this idea a thumbs up if you like and comment below for any questions! ^_^
Been Awhile, alts are looking great again. Super hyped with the work done by the foundation. Looking for buy opportunities.
Looks like 5 degrees of trend,
Break above 9.5c on volume helps to validate the bullish trend
let's hope btc doesn't shit itself
I have used some shapes and lines to help describe what price is doing. ADA is currently showing 3 spectrum price ranges.
Vertical Price Range
This is the current major price support and resistance lines ADA is playing in marked by the light blue dotted lines.
HIGH: .10 / .096 cents
LOW: .075 / .073 cents
Rising Wedge Range
This is the price range within the...
Cardano price is growing on the expectations of the Shelley release*. The update should bring decentralization to Cardano with 1000 staking pools and hand the control of the ledger over to the community. Besides that, Shelley will include such developments as consensus and incentive fees, quantum resistance, multisig transactions, enhanced...
channel break tested and confirmed
with solid break through the 100 DMA
perfectly structured change of direction
firm test of .07 support
toying with the idea of breaking out of the .09 limit
lots of open space available above .09
This is a pure speculation of course, but it was interesting to see price of Cardano in 3 years time using the price development of Monero.
Price could reach $10 in a year time and in 3 years.... $100? Only time will tell!
I learned to cancel the noise as I'm an investor and not a trader. ADA and other large coins look good to long the next couple of years. We will probably see some downside as well but overall it looks like a good time to invest.
I am an amateur and this is not financial advice though.
1. Fibonacci golden ratio 62%
3. Historically worked very strong support area
4. Descending channel bottom trendline
5. The tiny round number $0.05
Yes, pretty far from the current price but we MIGHT see some bounce also from $0.07. NB: this area is definitely not so strong as it is around 0.05!
"For the most part, a typical trader’s...
Hope that one finds you well..
It all depends on what BTC tries to do to us. If BTC can stabilize above 6000 everything is possible.
There is a chance that we get a false breakout of the inverse H&S due to the fact, that BTC has to drop at some point. But for now, the BTC market won't do that IMO.
Cardano / USD Short-term price analysis
Cardano has a bullish short-term trading bias, with the cryptocurrency staging a strong recovery from its 200-period moving average on the four-hour time frame.
The four-hour time frame is showing that the ADA / USD pair is attempting to ignite a small inverted head and shoulders pattern, while an even larger bullish...