Cardano Suppt/Res AKA "Hurry up and wait" pattern

27 lug 2021

This chart is a basic analysis of where ADA is right now. In the middle of nowhere :) Sideways trend but heavy support around $1. Keep an eye on the range. Also keep an eye out for correlations within the crypto space. Having a few products with low correlation to each other could serve as a very small hedge.

27 lug 2021

Nota

Buy anything in the low $1 range or below. Expect resistance around $1.50. We're in the middle of range currently so we could go either way.
Keep an eye on correlations as well.
Over the last year Cardano has had a .67 correlation with ETH and a .42 with BTC (A 1.0 correlation means they move perfectly synchronously. A 0.0 correlation means they always move opposite). Though the entire crypto space is correlated to some degree, keeping an eye out for products with low correlation to each other may be valuable.