Cardano (ADA) is trading at the lower half of the pitchfork on the ADA/BTC chart above. This means that the cryptocurrency has already completed its correction and formed a bottom. RSI conditions for ADA/BTC still show price action to be in downtrend even as it trades under oversold conditions. The VIX profile for the same ADA/BTC weekly chart also shows a strong sign of a bottom formation. The four consecutive green bars visible on the above chart confirm that Cardano (ADA) has formed a strong bottom and is now ready for a trend reversal.
Oct 23, 2018