Cardano (ADABTC) had a great run growing as much as 118% since hitting a low in late March... What will happen next?
What happens next is really for the market to decide. We are going to be reading the chart signals but we remain open, always, to all possible scenarios.
Technically ADABTC is in full bullish territory... Prices are high up and trading above EMA10, but just as I mentioned above, everything can always change.
When we look at the indicators MACD and RSI, we can notice the indicators closing lower each day. ADABTC is closing higher. We call this divergence, bearish divergence in this case.
The trading volume is really low. And we also have a lower high when we look at the candle-wicks.
If prices break below EMA10 on a lower high wick compared to the 4-June peak, we will see ADABTC hit EMA100 (0.00000694) on the next drop, since EMA50 has already been hit.
This is a complex analysis, I know, but it is done based on experience and normally it always succeeds.
Conditions for change If prices break and close above 0.00000950. The above signals become invalid and a new analysis is needed.
Thanks a lot for reading and for your continued support. Hit LIKE to see more from me...
Namaste.
הערה
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Analysis invalidated.
הערה
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The drop will happen soon... Very likely. I will just let it play of course because I shared too soon.
In this particular context, you need to consider the Cardano Summit on July 2nd & 3rd.
There will be lots of positive and new news released. Also, all recent road map dates have
been met. We're seeing steady accumulation.
Unless a coming map date isn't met, we should continue to see exponential growth.
And when the hype is big, it is better to be careful.
Coin_Cobber
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@KingRalph, Yep, that makes a huge difference in the Cryptosphere. Working product to be released soon too!
KingRalph
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@Coin_Cobber, Exactly. I think Defi is returning us back to the days when news (actual news) impacts price.
And I would strongly suggest that traders these days get up to speed on the aggressive and passive income various nodes and stake pools can produce. Its wild how they don't get suggested as investment avenues . . .
I'm currently looking into manual micro crypto investment funds. Times are a changing my friend, even in crypto too.
@alanmasters, Apologies for the delay.
Attend the free Summit tomorrow. Seriously.
Um, I don't know that one guy is talking about but there's over 6k people attending and the speakers and attendees are significant people in this space, including PWC. You can always trade on fundamentals of course but in the past, coins were much more speculative because they represented either very simple projects or promised projects. In contrast, today's Defi (decentralized finance) sector is based on functioning technology platforms and apps. Much different. And in this new bull market, if you wait for fundamentals before actually checking out projects you will always be far behind. Particularly since a lot of these projects are on very obscure exchanges to start. Check out Loopring (LRC). But Kybernetwork has made it to Coinbase. Now because I actually keep up with their project I know they're introducing a pivotal technology on the 7th. This is a great time to buy some and sell the news on that. I actually suggest Hodling that too.
polskiboyy
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@alanmasters the hype regarding the summit has not been significant. Not a lot of people registered either. Everything know has already been priced in on the lookahead date announcement in regards to Shelly but I suspect Charles may have a few supposes up his sleeve which would have a surprise effect. I don’t think and surprises would be too significant but it could be the factor that makes the difference here for direction considering the timing.
polskiboyy
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@KingRalph the protocol node code was released today. The back up dates are off the table. Right now there is a high degree of confidence to meet the hard fork date.
polskiboyy
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@KingRalph yes. When the hardfork occurs on July 29, there will be a significant supply set aside for pool delegation for passive rewards.
FindTheSun
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@KingRalph, usually when the news about come up, by that time the pump is done ;D
There will be lots of positive and new news released. Also, all recent road map dates have
been met. We're seeing steady accumulation.
Unless a coming map date isn't met, we should continue to see exponential growth.