Super Stable Coin - ADA not looking so stable no more. As a matter of fact, given the current sentiment and momentum in the market at large, Cardano is sitting at a very optimal-looking level.
Clear Stable Coin super support $1 demand zone that has withstand the test of time and many dumps. Given the strength price has pumped with from this level previously, along with the anticipated run from the DanoCult, biases aside, Cardano looks prime to potentially be one of the market leaders if we get another leg up.
As with all investments, we should try not to lead with emotion and with the given facts. I will look for reasons not to long this trade - as a worse scenario case.
REASONS NOT TO ENTER...YET
lmk your thoughts. Previous ADA analysis linked.
Clear Stable Coin super support $1 demand zone that has withstand the test of time and many dumps. Given the strength price has pumped with from this level previously, along with the anticipated run from the DanoCult, biases aside, Cardano looks prime to potentially be one of the market leaders if we get another leg up.
As with all investments, we should try not to lead with emotion and with the given facts. I will look for reasons not to long this trade - as a worse scenario case.
REASONS NOT TO ENTER...YET
- -Price not out of downtrend trendline.
- -No real confirmation of trend change thru candles..yet
- -Many similar coins have tested their 200MA, Cardano came close but hasnt, a pull back to that MA might be necessary for the ALGOs that run the market.
- -Bitcoin has been on an impulse move, however a pull back is always anticipated on any impulse move.
lmk your thoughts. Previous ADA analysis linked.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.