✴️ Cardano | Good News! Read In Full!

22 Jun 2023

I am doing a new session of looking at your desired Altcoins... The first one that came in was Cardano (ADAUSD)... Let's get started.

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We are looking at ADAUSD, which is the same as ADAUSDT, ADAUSDC, etc. Valid for all USD pegged stablecoins.

11-June Cardano hit a lower low compared to December '22. This is not bad, this is good news.

This happened because the SEC called it a security in one of its lawsuit against Binance/Coinbase and some exchanges delisted the pair.

This has been priced in and is already over. Life/Cryptocurrency will continue.

The lower low is bad news if you are trading leverage and your position is liquidated. If you are spot it doesn't change anything, short-term noise.

If you are out and want to buy-in, this is a great opportunity because you now get the lowest possible prices in more than 6 months.

Once we hit bottom, the only place left to go is up.

So the RSI is oversold (weak) and already recovering.

We can see strong bullish action and strong, clear reversal signals.

We expect Cardano (ADAUSD) to grow easily from here on.

We will still have waves, up and down, up and down... Still the shakeouts, volatility, market swings but long-term growth.

By the way, the lower low only happened in a the candles wick, the close was higher.
So technically we have a higher low.

Namaste.