Cardano / EthereumShort
ADA Eth oscillator idea
Updated
As we all know, markets tend to be oscillators or trenders. In this case, ADAEth is an oscillator which goes between price bands.
IMO ada at $1.30 signified a local market top relative to ETH. Eth has a lot of fundamentals going for it soon - extra shard chains, POS, layer 2 updates etc. which will improve it's scalability and lower transaction fees.
ADA is still vapourware for the most part, although with potential with partnerships in Africa etc. Nevertheless, $300 billion market cap is fairly overvalued IMO at this stage. I would be going for a short here all the way back to support.
IMO ada at $1.30 signified a local market top relative to ETH. Eth has a lot of fundamentals going for it soon - extra shard chains, POS, layer 2 updates etc. which will improve it's scalability and lower transaction fees.
ADA is still vapourware for the most part, although with potential with partnerships in Africa etc. Nevertheless, $300 billion market cap is fairly overvalued IMO at this stage. I would be going for a short here all the way back to support.
Note
As predicted, ADAETH is at 0.00047755. Expect it to reach support 0.000256 over the coming months.I'm not really trading this one as ADA is the new stable coin ;) but it's still good to observe an important pair.
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