denamit2007

Analysis of ADA. Will it go lower?

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BITTREX:ADABTC   Cardano / Bitcoin
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Hello, friends!

Today I decided to give a short analysis on the market of ADA 0.00%.
Since early January, a sharp correction in prices has led to a change in the main trend. Many traders tried to catch a turn at the fall, that would be good to enter the market, but as a result they were just trapped.

When comparing the growth waves with the waves of fall, we see that the latter are much stronger: the current market is controlled by the sellers. But the price still found support near the level of 4900. In the zone below this level, the price did not linger and instantly jumped out. With each new test of this zone, market volatility decreased, so now we expect the market to move into a lateral movement near this level. This is the most likely scenario for the development of further events.

The support zone is quite strong, but if the correction of the bitcoin price, and with it all the cryptology, leads to the penetration of this zone, then it will be very difficult to keep the price of the ADA coin 0.00%.

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