Cardano VS Bitcoin Presenting a Perfect Buying Opportunity
Cardano has already corrected by over 80% since reaching an all-time high at 9180 satoshis. But now it is facing the support at 1670 satoshis as the uptrend trendline has been rejected cleanly.
On a lower time-frame price broke above the descending channel and then found the support at the upper trendline of the channel. Statistically after the 80% correction cryptocurrencies tend to grow x10 time of average. Taking this in consideration, the next upside target could be as high as 26k satoshis, that is 327.2% Fibonacci retracement level applied to the last corrective wave down.
On a downside, there is not much downside potential for ADA/BTC, of course it could go slightly lower, but the trend reversal is imminent and it is only a matter of time.
On a lower time-frame price broke above the descending channel and then found the support at the upper trendline of the channel. Statistically after the 80% correction cryptocurrencies tend to grow x10 time of average. Taking this in consideration, the next upside target could be as high as 26k satoshis, that is 327.2% Fibonacci retracement level applied to the last corrective wave down.
On a downside, there is not much downside potential for ADA/BTC, of course it could go slightly lower, but the trend reversal is imminent and it is only a matter of time.
Nota
So far Cardano moving according to the planNota
Cardano next wave up could be very strong...
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.