Analysis $ADA # 05/06/2024

ADA, it's been a long time since I posted about this, and I'm only doing it because some people asked for it.

I made some money years ago holding this one, but I ENDED up getting out of it in 2021 and I didn't get into the big drop in 2023 and I didn't get into it in 2024, nor will I get into it in any year (in the SPOT market).

I believe that CARDANO is something gigantic and safe, I don't think we will ever see these guys go bankrupt or run scams out there, but I don't like this delay in everything they are going to do, and basically we don't see a nice interaction between the leadership and the ADA holders and I say this from experience (because I was a big ADA holder years ago).

Regarding the price, it looks good, as it broke USD 0.45 and then came back to test (like the rest of the market).

Obviously there is no reason for it to fall from here and even less for it to look for the gray band further down the price. So, I believe the orange band on the chart is good support and we should bounce from here soon.

Time here is in the BULLS' favor, so we are likely to see ADA at USD 0.59 in the coming weeks and then USD 0.81. The worst is over here, and it's OPTIMISTIC!