New Brand Means New PossibilitiesDec 3, 2019
At a recent AMA session, Cardano founder Charles Hoskinson talked about the idea of a massive rebranding in 2020. He believes, a strong bullish trend awaits his coin next year.
We hope that he will be right. But if we look at the ADA/BTC chart now, we will see that since the last analysis, the price has reached our goals and even surpassed them.
Now the price has rested and is testing the rising channel bottom line. A breakdown of this line will testify to the buyers’ weakness and send the price to test a strong 500-505 sat support level. A false breakdown with a price return is possible. Price may return to the middle of the channel with a subsequent increase to its upper resistance line of 580 sat.
In general, the coin is at the historic bottom now, so the chance of growth is greater than the chance of the ATL update.