ADA/USDT Update: 50% Shakeout. What's next?
Cardano did rally to new ATH around 2.4$.
Some speculations about Elon accepting ADA as payment did help as well.
At one point the FUD did influence the price and we saw a huge shakeout well >50%.
Luckily most people in the Cardano system are more of the hodl and stake type so we don't expect mass panic in ADAland.
Currently we got back new upwards moving trendlines.
Let's see if these can hold and if we get a nice bounce of them.
The Cardano ecosystem is about to explode once we get smart contracts which are around the corner.
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.
- Yellow lines are for visual help only.
Boxes:
- Either entry zone or support zone. Check the description.
Some speculations about Elon accepting ADA as payment did help as well.
At one point the FUD did influence the price and we saw a huge shakeout well >50%.
Luckily most people in the Cardano system are more of the hodl and stake type so we don't expect mass panic in ADAland.
Currently we got back new upwards moving trendlines.
Let's see if these can hold and if we get a nice bounce of them.
The Cardano ecosystem is about to explode once we get smart contracts which are around the corner.
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.
- Yellow lines are for visual help only.
Boxes:
- Either entry zone or support zone. Check the description.
