Ada still needs correction ?
Aktualisiert
So here are my thoughts: There has been a real euphoria about Cardano Mary update and a lot of retails bought by anticipation.
ADA now needs a correction and this might not be over yet.
I feel like everyone is calling long because this is what we want to see but there are some real signs of ADA weakness at this moment.
Ada, like every altcoin, usually follows bitcoin. Last hours, while bitcoin price was up 9% (boosted by eth I guess), ADA was only up 2.8%, but as soon as Bitcoin price dropped, ADA followed more than ever.
From my point of view, this looks like ADA is not ready to rise again and may break down soon.
I'm not bullish in the short term.
What do you guys think?
This is not financial advice.
ADA now needs a correction and this might not be over yet.
I feel like everyone is calling long because this is what we want to see but there are some real signs of ADA weakness at this moment.
Ada, like every altcoin, usually follows bitcoin. Last hours, while bitcoin price was up 9% (boosted by eth I guess), ADA was only up 2.8%, but as soon as Bitcoin price dropped, ADA followed more than ever.
From my point of view, this looks like ADA is not ready to rise again and may break down soon.
I'm not bullish in the short term.
What do you guys think?
This is not financial advice.
Kommentar
Cardano is testing the very first support, it will likely follow Bitcoin, I believe it might break to 0.838 if Bitcoin breaks down which could happen as it's currently forming a rising wedge with declining volume.Trade carefully!
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