Cardano has a very bullish price action which is usually the case when there is hype and new stuff coming up, like yesterday’s hard fork. Now the event took place, so most likely the price will come back and stabilize before continuing again.
Michael doesn’t expect the price to go up but rather to consolidate and correct, coming back to reality and from there onwards start a new impulse wave.
Michael discusses the ADA/USDT pair and compares it with Elrond and Binance Coin. “If we fail to hold the support area between $1.13 and $1.17 we might drop to an area between $0,88 and $0,95 with a potential drop to around $0,81” which is where Michael is looking to ‘entry points’.
On the other side, if we do break the $1.30 zone Michael sees a further move upwards to the $1.70 area.
I do not assume that Cardano is going to continue rallying from here.
Crypto Michaël
This episode premiered on March 1st, 2021.