ADA Price Analysis USDT & BTC

A potential route to increase a stack of crypto is trade against BTC rather than GBP or the US Dollar. If you happened to buy in the FOMO of 2021 it is still possible to increase your wealth with the right opportunities. Below I will show my trade prices against USDT and BTC for different Alt coins.

ADAUSDT

Cardano (ADA) is a layer 1 competitor to ETH. It is a top 10 Alt coin by market cap spearhead by Charles Hoskinson. ADA performed well in the last bull run but it is a slow mover. Having recently entered an accumulation phase arguable the current price is not a bad price to pick some up. However, there may be a possible move to the downside toward $0.35 and if this breaks then it could head toward the $0.20 price. ADA is a growing echo-system, has a significant environmental focus as a company as well seeking to onboard many unbanked in Africa and other developing countries. It has dropped 86% from the all time highs of 2021. Buying at current levels of $0.40 presents a 2X opportunity if ADA returns to the macro resistance/bull level of $1.20. If you bought ADA in the FOMO of 2021 then current prices are a good opportunity to DCA to decrease the average cost of your investment. ADA may be slow and long term hold but it is a company that has a sustainable competitive advantage due to its coding language amongst other features.

ETHBTC

Historically ADA against BTC dropped 90% in 2017, 79% in 2019 and 65% in 2020. ADA has currently dropped 75% from its 2021 all time highs with the previous highs of 2019 and 2020 forming support but that does not mean it can’t drop lower. It will be interesting to see if it bounces off the 2019 high again or breaks to the downside toward the 2020 peak of 0.00001500.

Selling ADABTC now would present a 30% increase if bought back in at 0.00001500 but there remains significant uncertainty and room to t he downside. Equally, buying ADABTC would present the potential of a 30% loss at current prices.

If ADABTC continues to trend down then it may present stronger buying opportunities.