ADA/USDT Smart contracts are live and the ecosystem is growing
Intro:
- Cardano is one of Ethereum's main competitor.
- Finally smart contracts are running on the Cardano chain and the ecosystem can start to bloom.
Daily chart:
- Price keeps hovering above 2$ and so far stays below the descending purple line.
- Volume pumps and dumps and probably drops until we see a breakout.
- RSI analysis shows a descending behavior which could go on for some more days. These channel eventually get broken but this time we wait for it.
- Support lines are at 2$, 1.2$ and 0.7$.
- Resistance lines are at 2.3$ and 3$.
Expectation:
- We expect a breakout above the purple line and a solid recovery into October. One reason is, that the descending purple line is very steep, maybe to steep to be sustainable.
- IOHK and Cardano continue to partner with big companies which could result into a price surge.
Basic rules:
- Never buy the top/ ATH
- Take profit as long as you can (also partial profit is profit)
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place
Enjoy the ride and don't be too greedy.
If you like the content, please like, comment and give this channel a follow.
We would love it if you could share your thoughts in the comments.
Discussions are very welcome here.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
- White lines are Fibonacci retracement levels
Helplines:
- Purple lines are trendlines we take a look at.
- Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA.
- Yellow lines are for visual help only.
Specials:
- Boxes represent either entry zone or support zone . Check the description.
- Cameras represent MA crossings. Yellow camera stands for a golden cross while the cyan camera stands for a death cross.
- Cardano is one of Ethereum's main competitor.
- Finally smart contracts are running on the Cardano chain and the ecosystem can start to bloom.
Daily chart:
- Price keeps hovering above 2$ and so far stays below the descending purple line.
- Volume pumps and dumps and probably drops until we see a breakout.
- RSI analysis shows a descending behavior which could go on for some more days. These channel eventually get broken but this time we wait for it.
- Support lines are at 2$, 1.2$ and 0.7$.
- Resistance lines are at 2.3$ and 3$.
Expectation:
- We expect a breakout above the purple line and a solid recovery into October. One reason is, that the descending purple line is very steep, maybe to steep to be sustainable.
- IOHK and Cardano continue to partner with big companies which could result into a price surge.
Basic rules:
- Never buy the top/ ATH
- Take profit as long as you can (also partial profit is profit)
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place
Enjoy the ride and don't be too greedy.
If you like the content, please like, comment and give this channel a follow.
We would love it if you could share your thoughts in the comments.
Discussions are very welcome here.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
- White lines are Fibonacci retracement levels
Helplines:
- Purple lines are trendlines we take a look at.
- Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA.
- Yellow lines are for visual help only.
Specials:
- Boxes represent either entry zone or support zone . Check the description.
- Cameras represent MA crossings. Yellow camera stands for a golden cross while the cyan camera stands for a death cross.
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