Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Other Popular Cryptos / Coins => Cardano Forum => Topic started by: Trumpet on October 13, 2021, 02:38:16 PM
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Cardano (ADA) looks set to double bottom near its support level before climbing back to the highs it reached a few months ago, according to the latest technical analysis by prominent crypto trading analyst Michaël van de Poppe.
The double bottom pattern will appear when two valleys or “bottoms” have developed after a long decline, indicating that the selling pressure might end, and a reversal is likely to begin.
When looking at the ADA/BTC chart, the price of ADA is roughly 0.00003828 BTC (or 3,828 satoshis). However, Poppe predicts that the coin will rise beyond the 0.00003785 BTC mark before reverting to its former highs.
Evidently, the last time ADA hit a clear double bottom, it climbed to around the 6,000 sats zone; notably, Poppe states that he is more interested in the price reaching the 3,000 sats zone for an entry point.source (https://cryptonews.net/2214767/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared)
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This kind of analysis does feel very beautiful if we have bought Cardano coins long ago during All Time Down because the value from All Time Down until now still feels very minimal, everyone also sees that the current price is very expensive and above the price of 1 USD for 1 Cardano coin.
If we feel that this is the best of Cardano coins, then surely everything will feel very easy and in other words our position is already at a high price and if we feel this is All Time Down then in the future we can take advantage.
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Cardano coins don't need to be traded, but Cardano coins are enough by staking and just taking the profits every time we get rewards, this function is really very powerful from what can be generated from the various advantages of Cardano coins..
If we trade Cardano coins then the results will be like what the OP wrote in this thread, which requires a fairly precise analysis to take advantage of Cardano coins.
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This pattern of the Cardano Coin always gives unexpected things in the cryptocurrency market because if we consider the value of the Cardano coin which was so very cheap, it created a very expensive value now or is worth a lot more than when it was first created.
I am also sure that the first investor of Cardano coin really has a very fantastic value and has so many advantages because seen from the chart the value of the Cardano coin has also drastically increased.