Looking forward to the Cardano community fork next week. Been Mapping out some notable trends that developed after Shelley. While I doubt ADA will follow an EXACT pattern after Goguen, it does make sense that we will see similar lows and highs to swing to before the next community fork. Next notable resistance up is at the $0.20 mark and $0.15 at the bottom end, plus a lovely support beginning Jan 1 and catching us upon return from COVID sell-off. Notably, we are meeting this support trend and have yet to fall under it, suggesting plenty of bullish strength with air above if a break is in the books. Looking at history, however, we can see a major downtrend weeks after the community fork took place before bottoming out and recovering to the major surge we see now. When applied to Goguen's timing, this would indicate a drop to the $0.11 line before a consolidation between $0.13 and $0.15 thereafter, before meeting the trendline and hopefully rising to meet our next consecutive goal resistance at $0.24 in April. All-in-all, this description sounds somewhat like what the agreed trend for BTC is - which has shown a 50% correlation to ADA this week.
In my prospective map, red boxes are major buy points, yellow is short term swing opportunities, and green is the overall quarterly goal. Not financial advice, just observations and my own goals :)
In my prospective map, red boxes are major buy points, yellow is short term swing opportunities, and green is the overall quarterly goal. Not financial advice, just observations and my own goals :)