Cardano Price DOUBLE DOTTIONS models before the Charles Hoskinson meeting for VIPs: Can Ada reach $ 1?
Cardano Price continues to settle after its collapse to its lowest level in three weeks on Tuesday. ADA PRICE is trading today at $ 0.7, where Sell-FF seized a break, while Crypto investors focus on the next meeting between Charles Hoskinson and VIP has not yet been called. So, can Cardano refresh to one dollar after a double bottom formation?
Cardano’s price collapses reduce the Charles Hoskinson meeting for the VIP
ADA’s potential catalyst is the next meeting between Charles Hoskinson and VIP His name has not yet been called. It will happen March 1. Hoskison, who founded Cardano, hinted that this would be a decisive meeting that could have strong results, and perhaps partnership.
Some encrypted critics foretold X that the meeting will be with the Elon Musk billionaire. In addition to the leadership of Tesla, Musk is also the head of the Ministry of Governmental efficiency (DOGE).
Dog is providing US government funds by enhancing efficiency. The cost cuts will be very necessary after the most recent Trump’s budget, which includes more than $ 4.5 trillion in tax cuts. The budget is also considering cost cuts about $ 2 trillion.
Musk is considering transferring some government jobs to Blockchain. Cardano fans have provided the network condition, cited the costs of low transaction, 10 % operating time, and fast speeds. Such a deal will be strong verification Cardano, whose ecological system is weaker Other similar chains.
Cardano Price contains three risks with regard to the Hoskinson VIP meeting. First, there is a possibility that the meeting will be delayed again, as happened this month. Second, there is a risk that the top characters will not be not missing Elon Musk or Donald Trump. Finally, the result of the meeting may not be all important.
Technical analysis of ADA prices as dual -bottom models
The Daily Chart reveals that the ADA price has decreased by approximately 50 % of its highest levels in November last year. It also decreased to less than the level of Fibonacci tradition by 61.8 %, a common red mark indicating the downside.
Another danger is that the spread among the weighted moving averages for 50 days and 200 days (WMA) has been narrowed. This is a sign that the pattern of death intersection may be about to configure, and risk more negative.
However, sometimes, the assets often revive before the death pattern is formed. More importantly, there are signs that they formed a double -bottle pattern at $ 0.654, which is $ 0.822, which coincides with the level of Fibonacci tradition by 50 % and WMA for 200 days. At this level, the bounce will indicate more bullish trend, and may reach $ 1, with a rate of 47 % of the current level.
Climb ADA price expectations It will become unimportant if it is less than psychological support at $ 0.5, which is the slightest swing this year.
Related questions (common questions)
ADA PRICE formed a dual -bottom pattern at $ 0.65, pointing to a possible recovery to the psychological point at one dollar before the Hoskinson VIP meeting.
The hopes of ADA prices will increase to one dollar if it nullifies the double bottom pattern and the shapes of the cross -style.
High speculation that Charles Hoskinson will have a deviation with Elon Musk, the leader of the Ministry of Government efficiency.
Crespos
CRISPUS is an experienced financial analyst in CoingApe with over 12 years of experience. It focuses on Bitcoin and other altcoins, which covers the intersection of news and analysis. His visions were shown on famous platforms such as banklestimes, Coinjournal, Hypeindex, Seekingalpha, Forbes, Investingcube, Investing.com and MoneytransFers.com.
Responsibility: Is market research before investing in encrypted currencies? The author or post does not bear any responsibility for your personal financial loss.
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