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Cardano Ecosystem

CARDANO Bull Indicator Almost ACTIVATED! (Truth Behind ADA Price!)

03/06/2024

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116 views


Crypto Capital Venture

In this video, I discuss the current market conditions where Bitcoin is trading above $60,000 and Cardano (ADA) is around 65 cents, significantly lower than its previous high when Bitcoin was at similar levels. I address concerns regarding ADA's price performance compared to its past and explain why I'm not worried. Using Ethereum as a case study, I highlight the cyclical nature of cryptocurrency markets and ADA's potential for a rally. I delve into the historical data of ADA and Ethereum to illustrate their bear and bull market cycles, emphasizing the importance of development phases, like DeFi, in these cycles. I also touch on the concept of bull market doors and Bitcoin dominance, suggesting that altcoins, including ADA, typically lag behind Bitcoin's moves before making significant gains. Towards the end of the video, I explore technical indicators on the Cardano weekly chart, particularly a recent "break of structure" signal that could indicate the start of a bull market for ADA. Despite ADA's current lag behind Bitcoin, I express confidence in its potential for a future rally, based on historical patterns and technical analysis.


See original video on YouTube

ORIGINAL SOURCE

https://www.youtube.com/watch?v=VEayisBb...

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