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ADAUSD trade ideas

CTS - #ADAUSDThis analysis is designed to provide information that CTS believes to be accurate on the subject matter, but is shared with the understanding that the author is NOT offering individualized advice tailored to any specific portfolio or the particular needs of any individual. The author of the analysis specifically disclaims any responsibility for any personal or other loss or risk incurred as a consequence, directly or indirectly, of the use and application of any of the contents of this analysis.
BINANCE:ADAUSDLong
by CaliforniaTS
3
Ada Whales UpdateFor all its recent progress, Cardano continues to divide opinion in the crypto-space even after 3 years of its existence. While some consider it an ‘Ethereum killer,’ others refrain from even acknowledging it. Community opinions aside, its true potential can be calculated by what the numbers and on-chain metrics show. For the first time in a long time, the answer isn’t whales or spot traders. Since the beginning of July, major whales (holding ADA worth more than $5 million) have been pulling out of the market. In the last 30 days, over 300 whale addresses have been removed from HODLers’ equation. Additionally, Long-term HODLers too have been pushed out of the market. Now, 1-year HODLers had been dominating the market a year ago. Back in July 2020, this section of holders shared a 46% dominance in terms of ownership. Since then, however, this number has come down. It was a mere 9% over the last month. What’s more, with LTHs out, a new section of HODLers has taken their place – The Cruisers. Cruisers are the mid-term holders who currently hold a solid 75% dominance in the ownership market. Over 1.52 million addresses are those who have held ADA for anywhere between 1 month to a year. These addresses started climbing around January and picked up a serious pace. In the last 6 months alone, Cruisers’ participation has gone up by 1.2 million from 350k. Furthermore, the average time ADA is being held in wallets rose to 6.1 months too, a sign of Cruisers’ current domination. All in all, it is very clear that recent rallies have been strongly supported by Cruisers (mid-term HODLers). Going forward, if their dominance continues, ADA could see more stable price movement as well. Since ADA is already profitable presently and the community sentiment is positive, more investors could enter this particular section of holders. This would bring ADA closer to its April ATH levels.
COINBASE:ADAUSDLong
by Whales_of_Crypto
ADA clears off parallel channel, up or down?Cardano, a significant cryptocurrency in the market, was having its price fluctuating in the last week. With varying highs and lows, the price was moving in a broad range within $1 and $2. However, the movements became steady in the past few days. It was moving between $1.65 and $1.7. Earlier today, the price diverted upwards from this range approaching a $2 mark. As soon as it touched $1.74, it began dipping with stagnant bearish candles. Following this, the price surged to 1.72. Currently with bears in hand the price might dip down if they close at lower values to $1.70. In the coming hours, if some bulls fall in place the price might sail high. RSI begins to drop near 58, buying pressure adheres. Resistance level seen at $1.69 Support levels fall at $1.67
KRAKEN:ADAUSD
by COINPEDIA