Cardano (ADA) - 4h. How realistic is the test of $2.2?

27 мая 2021 г.

Hello friends, everyone! Well, "these days" on the Cardano market are over, emotions have subsided and we decided to share with you our short-term scenario of the ADA price movement. Our previous idea worked perfectly and the price approached the range of $2.5-2.7 as much as possible:

During a powerful wave of decline in the entire crypto market, the ADA price dropped by 60%. For example, the equally powerful ETH project fell by 70%

This fact confirms the strength of this project and the great desire of investors to buy ADAUSDT press during global waves of decline. Having touched the mark of $1.01, the ADA price jumped 45% on the same day. The next attempt of sellers to pass the price below was unsuccessful. As a result, buyers were able to recover the ADA price by 71%.

If we look at the daily timeframe, we see that the ADAUSD price fell into a powerful wide consolidation zone of $1-1.5. In this range, buyers were gaining a position for the next growth wave within 2.5 months.

In addition, sellers have tested an important trend line that keeps the ADA price from falling into the abyss in force majeure circumstances. Thus, the global critical point for the current upward trend is at $1.1.

However, you shouldn't think about such terrible goals now. So far, buyers have managed to push the price above $1.5, which has been a big problem for them in the past. The price moves in a stable growth channel with medium volumes. The sellers fail to reverse this initiative of the buyers, and therefore, the continuation of the price rise to $2.26 may take place without a noticeable correction.

In the short term, the worst-case scenario at the moment is the ADA price exiting the white channel and retesting the mark of $1.5. If this test takes place on medium or low volumes, it will be a great chance for investors who did not have time to buy this coin.
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We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
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