Cardano ADA price at a crossroads
Updated
At the beginning of the year, ADA holders rejoiced that their coin was one of the first to break the long downward trend and that its price was expected to grow strongly.
However, there were 5 attempts to break above the strong mirror level of $0.42-0.43 and all failed, so it turns out that "someone" was selling out.
Did "they" know in advance that in early June, the SEC would say that Cardano's ADA is a security and that the ADAUSDT price would strong fall on the negative news?
I would like to believe that this is a coincidence, but the crypto market is currently unregulated and anything can happen.
We're keeping our "fingers crossed" that ADAUSD buyers will manage to break through and gain a foothold above $0.295. This will open the way for them to reach at least $0.36, and if they are lucky, the notorious $0.42-0.43.
However, we must also admit that if you look at the global chart, you can see that the ADAUSDT price still has room to fall. For example, to $0.17-0.18.
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However, there were 5 attempts to break above the strong mirror level of $0.42-0.43 and all failed, so it turns out that "someone" was selling out.
Did "they" know in advance that in early June, the SEC would say that Cardano's ADA is a security and that the ADAUSDT price would strong fall on the negative news?
I would like to believe that this is a coincidence, but the crypto market is currently unregulated and anything can happen.
We're keeping our "fingers crossed" that ADAUSD buyers will manage to break through and gain a foothold above $0.295. This will open the way for them to reach at least $0.36, and if they are lucky, the notorious $0.42-0.43.
However, we must also admit that if you look at the global chart, you can see that the ADAUSDT price still has room to fall. For example, to $0.17-0.18.
_____________________
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Trade closed: target reached
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