Cardano in the past few weeks has risen to a height where people are forced to bag in more ADA , especially now that the cryptocurrency market is showing signs of uptrennd rally.
Cardano recorded an all time high today when it rose by 12.11% to the price value of $2.96 .
There are speculations over the possible fate of ADA in the coming days especially with the 60% to 90% crash prediction of Peter Brandt. He made the prediction when ADA was at $2.56 price value which has been defied by ADA when it soared high up to $2.70 .
The classic technical pattern, known as Head and Shoulders made by the Veteran Analyst Peter Brandt occurs when the price forms three consecutive peaks and a single support level, with a condition that the middle peak is higher than other two, which are typically of the same height. This will make price to fall below the support level ( neck line ) and falls by as much as the maximum height between the middle peak's top and the support level.
Below is a chart explaining the Head and Shoulders Pattern
With the present rise in the price of ADA , most of Cardano investors are already on 10x profit and may be tricked to sell for profit at $3 or at a price slightly below it but not beyond $2.80. The question then is this ,what should investors do , sell or keep holdl ?
As for me I believe in long term hodl and as such won't be birder much by what the price of ADA may turn out to be in coming days . Secondly , considering the fact that a larger percentage of ADA is staked , the percentage of investors that will sell their token will be small and won't crash the market much.
Nevertheless , every investor have entry point and exist point and we also have what we plan to achieve from our tokens . Whether to buy or to sell depends on us and our goal .
I believe in ADA and have been accumulating it for a bit. I think under $3 is still a good time to get in the game :)
I believe the smart move would be hodl.
I totally agree with you on this. Long term holdl is the key.