Cardano - True USD Price (ADA)

Unsure if anyone else is present... LSE board not great for Crypto

Cardano projects building out nicely. Shame I don't have any more cash to inject, would really like to increase holdings in GENSX, GENS, MIN, NMKR, WMT, etc

@Cooper: Gutted I never bought MILK after raising last year. It's gone around 4,500% :( Only have small holdings, but anticipating several of these to at least 10x in the next bull run

Interesting, interesting... ADA looks like it's trying to break out of depending pattern formed since last October on the daily chart. A daily close above the 20MA (daily) would be taken as a high possibility of a strong bounce. A weekly close at $0.5+ would also suggest good bounce incoming. I'd expect initial resistance around 50 cents, with that being where the 50 day MA is heading down towards. Assuming that breaks, 65-70cents this month looks v likely. That being the depending 100 day MA, previous peak high, and depending 20 weekly MA

If it were simply down to technicals, this looks positive

Unfortunately, high chance this will be short lived. Until recession fears are calmed and wider markets stabilise, we could still be in for a rough ride. Let's see. Excellent time to observe with a bag, yet have a little extra cash available just in case

Again, technical call out for BTC at 21/22k achieved, with a dip actually slightly below the level that quickly got bought into. Good probability for the lows to now be cemented and used as base. Difficult to say for sure.

Cardano performed better than it could have. Rather than a further dip like other coins, ADA appears to have formed a double bottom and is beginning to signal a trend reversal. Certainly not out of the woods. Expect turbulence

I was considering a significant top up to around 100k ADA if we went to sub 30 cents. Doesn't look like that will happen now ... unless things unexpectedly continue to deteriorate. For now, I personally anticipate quite wild fluctuations with rapid climbs followed by some steep drops. Adding at sub 50 cents may be as good as can get. Personally not going to go all in as things can always turn. I've sufficient in here to be happy wherever this lands in a few years time. That way, still reserving a few pennies should the unexpected happen and op for lower price materialises.

All the best to hodlers, long and new. Cardano is just getting started and looking forward to the next bull run, whenever that will be

I quote my post from 11th April:

"For the near term, I'm personally anticipating a further drop to around $0.5 (weekly 200MA). Bitcoin is obviously dropping down towards either support around 30k, its 200MA weekly or 50MA monthly. ADA will drop with it me thinks"

Despite the headlines, this was obvious

Interesting to see what happens from here. BTC does have potential to drop to 26k (the 61.8 fib) or 21/22k which would be the 76fib, 50 MA monthly support, near previous ATH support AND the critical juncture where big players like MicroStrategy will be seriously adding to avoid crippling scenario... Classically trading comes in 3 candlestick formations, so further lows this month quite possible, with a bottom next month. Let's see

What this means for Cardano? Hoskinsons comment on bear market the other day didn't help the immediate term. Maybe stabilisation and rise in June with the next update?

If we get down to 30 cents again, I will be buying more for sure. Let's see

Thanks a lot JTS! Appreciate your thoughts here :-)