The last time we made global ADAUSDT forecast 5 months ago, and as it turned out at the absolute price highs and roughly speaking all this time the price of ADA fell from $3 to $1
We tweaked the dynamic channels a bit from the previous idea and this is what we get:
On the one hand, the ADAUSD price was bought up for the eighth time from the powerful $1-1.10 liquid zone and organized a 50% bounce, because buyers understand that this zone is critical for a global trend break.
On the other hand, they managed to break through the dynamic trendline downwards with the 5th time and in the last days/weeks there were two retests of strength from the bottom and the sellers didn’t let the price go higher yet.
ADA cryptocurrency – buyers need to protect $1 range
Until this time, crypto market will be flat and small participants will be squeezed by anarchic moves up and down, beating out stops.
Only fixing the price of ADAUSDT above $1.75 may give confidence that it is possible to go long.
In the meantime, the only thing we can say with certainty is that below $1 for Cardano token a real rapid super plunge may begin, because the chart below is empty, with no support, down to $0.35-0.40. Of course, no one wants this development for sure, but we don’t control the market.