ADA goes parabolic
Updated
Hello everyone!
As can be seen in the chart, ADA/USD has established a textbook parabolic structure (see https://www.newtraderu.com/wp-content/uploads/2020/05/Parabolic-curve.png). If we further follow the pattern we should see a steep markup pretty soon, followed by a short consolidation period and another last rise, which could potentially bring us to the previous ATH.
This Idea can be fundamentally justified by the increase of people staking their ADA -currently over 60% of available ADA is staked- and thus making it unavailable for buying on the market. At the same time the Hype around Cardano´s Goguen Release starts which brings in more buyers.
I wish happy gains to everyone :)
Tim
As can be seen in the chart, ADA/USD has established a textbook parabolic structure (see https://www.newtraderu.com/wp-content/uploads/2020/05/Parabolic-curve.png). If we further follow the pattern we should see a steep markup pretty soon, followed by a short consolidation period and another last rise, which could potentially bring us to the previous ATH.
This Idea can be fundamentally justified by the increase of people staking their ADA -currently over 60% of available ADA is staked- and thus making it unavailable for buying on the market. At the same time the Hype around Cardano´s Goguen Release starts which brings in more buyers.
I wish happy gains to everyone :)
Tim
Note
The Idea plays out very well so far. We are currently at Base 4. I´m expecting some consolidation here and then a last push to the All-Time-High before correcting.
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