The recovery is not only lead by the recovery of the overall market/BTC but mainly because of increased visibility and key activities/events such as meetups, conferences, and recently a roadmap update.
Also, Cardano got listed on a few more exchanges with Huobi (Pro) being the latest listing today. And perhaps the more anticipated event that is coming up around the end of April is the "Gogeun" Testnet Launch.
The Gogeun Testnet Launch should bring more hype and excitement around Cardano which would drive the price up, even more, the coming week or two leading up to the actual launch.
If you would like to enter ADA/BTC for a short-term swing trade I would wait for some pullback cause the price is a bit overextended and on the 4 hourly chart, an divergence looks to be forming. And with a (key) resistance at around
0.00003000 there should be more profit taking to expected.
That being said, if you like and believe in Cardano in the mid-long term then you don't have to time as much and you should ride the wave up and down and expect it to go further up in the coming days, weeks and month cause of its potential.
For the short-term swing traders, here are some levels to look at:
0.00002800 - 0.00002860
Note: don't forget to secure some of your profits along the way. Is always a good idea to take profits, even though a target has not been reached yet.
Leave a comment if you have any questions.
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And until next time, good luck with your trading!
If you missed the run up yesterday then look to buy in around 0.00003000 for an entry for a possible next leg up.
New Buy Area:
0.00002930 - 0.00003030
Good luck with your trading!
Two targets reached already and target 3 in sight.
Again, good luck!