RED ALERT! Cardano (ADA) Is At Severe Nearer-term Risk!!

in #cryptocurrency • 7 years ago

I want to alert my fellow Steemians about a potential technical risk factor in the #Cardano (ADA) #cryptocurrency.

Since early December of last year, the Cardano #altcoin appears to be charting a longer-term bearish head-and-shoulders formation. Please see my candlestick chart below:

Cardano-warning.jpg

As you can see, I'm really not liking the weak price action that occurred during the last few weeks. Today, the altcoin has yet to recover, and is looking pretty sour.

My next downside target is around 27 to 28 cents. If Cardano fails there, I'm not really sure if we have technical support to bolster the altcoin.

In the worst case scenario, we may be facing 10 to 11 cents.

By no means is this meant to scare you, but please be on the lookout for Cardano, and perhaps consider avoiding going too heavily into it right now!
#cardano #altcoin #ada #crypto
7 years ago in #cryptocurrency by
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     7 years ago  

    Thanks for sharing for knoledgeing post...

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       7 years ago  

      Thanks so much for the heads-up...I have been watching Cardano for awhile now, sure glad I didn't pull the trigger on it. Now I'll just wait and see what happens.

      smileys hat.jpg

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         7 years ago  

        How does the satoshi graph look? Part of this pattern is based on BTC movement right?

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