ADA/USDT Update: Cardano Africa Special 5 million new usersThe Cardano special took place the 29th of April.
We got introduced to the newest projects where 5Million Ethopian students use the Cardano Blockchain with another option for 20 million users if it succeeds.
The price of ADA didn't care about this at all.
So we expect further sideways trading as suggested as well by the RSI.
We found support from the Fib over various values which indicates the demand is here.
We all still wait for the launch of smart contracts.
Once this gets announced we expect Cardano to blast off.
The current date for that is August.
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.
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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.
- Yellow lines are for visual help only.
Boxes:
- Either entry zone or support zone. Check the description.
