As usual, I like to make technical analysis simple rather than just a load of lines and colours. I like to annotate why I drew those lines and also to help you see the trend.
As we can see, the whole market is in a very volatile position due to bitcoin if bitcoin rises/pumps. Suddenly, we could see a potential drop in ADA or potential gain depending on the market cap of an ADA at the point BTC rises. It's hard at the moment to say whether ADA will pump or fall due to bitcoin dominance. I am optimistic ADA will pump. However, it needs a bit of dumping first, especially since the hype around the coin has gone. If we reach into the green zone, we could see a new RECENT ATH! However, if we fall below the support line or into the red zone, we could see a good dump ahead of us. But I know that's not what you guys want to hear. My personal opinion on ADA is that it has a lot of work to do it is still an unfinished product the reason why the price went so high was because there was a lot of hype around the token now that hype has started to go down, people have slowly started selling their ADA hence the drop I don't personally have ADA however there is a chance I will buy some in the near future because it is still a great project
ALT-SEASON IS SOON YOU HEARD IT HERE FIRST!!! 🚀🚀🚀
What do you guys think? 🚀
As we can see, the whole market is in a very volatile position due to bitcoin if bitcoin rises/pumps. Suddenly, we could see a potential drop in ADA or potential gain depending on the market cap of an ADA at the point BTC rises. It's hard at the moment to say whether ADA will pump or fall due to bitcoin dominance. I am optimistic ADA will pump. However, it needs a bit of dumping first, especially since the hype around the coin has gone. If we reach into the green zone, we could see a new RECENT ATH! However, if we fall below the support line or into the red zone, we could see a good dump ahead of us. But I know that's not what you guys want to hear. My personal opinion on ADA is that it has a lot of work to do it is still an unfinished product the reason why the price went so high was because there was a lot of hype around the token now that hype has started to go down, people have slowly started selling their ADA hence the drop I don't personally have ADA however there is a chance I will buy some in the near future because it is still a great project
ALT-SEASON IS SOON YOU HEARD IT HERE FIRST!!! 🚀🚀🚀
What do you guys think? 🚀