80 / 100

ADABTC is being shilled nowadays as a coin that can repeat EOS style 2018 Pump when it posted 600% gains. Let’s have a look & see if ADABTC has the Whales Power to actually get there.

Let’s start with checking the Whale (Large Investors) Activities since inception.

ADABTC, Large investors, trading view

ADABTC has witnessed 4 Major Pumps since its inception. The first one was during the 2017 Bull run when it posted 3134% Gains. After the Pullback in 2018, ADA witnessed 148% Follow Up Pump. Since, than ADA managed to post 42% once and 56% recently. The Price Action in the current area is rather strong. However there is a strong Horizontal Resistance coming up, which must be overcome before any meaningful upside. Looking at the Whale Activity Chart. we can assume, the Whales are fairly active in ADA. Thats a Plus from the perspective of liquidity & market influence. Now, let’s check the chart to understand, how much ADA needs to pump in order to get to 23.6%, 38.2%, 50% as well as 61.8% & 78.6%.

ADABTC, Large investors, trading view

ADA needs to post 154% gains from the bottom to reach 23.6% Fib Level, assuming we draw the fib on a closing candle in a weekly chart. While 233% gains are required to attain 38.2% Levels. On the top end, ADA needs to post 988% Gains just to Reach All-Time High again. Can ADA do it? Well, for now, it’s stuck against a Local Resistance. Let’s go and check the next chart to understand that.

ADA/ BTC, Weekly chart

As we can see there is a Horizontal Resistance coming up and ADA might want to take some breather & trade softer, before breaking out or breaking down. Let’s Zoom that area and see how it looks.

ADA/BTC, Resistance Zone

Draw this Resistance Zone on your Chart. As long as we hold this Resistance, Expect a Pullback towards 200 Day MA which is acting as support currently. Plus there is an up-trend-line coming up. I would like to position myself to buy somewhere around that. However, i am also open to BUY the upside break. Off course those who are trading at Bitmex will be trading both Buy Support and Sell against Resistance. But i am focusing on BUY Side as far as Binance is concerned.

My VERDICT: Will wait to buy on a Pullback after the Upside Break above 1350 Sats or will consider buying the Dips towards 200 Day MA & Up-trend Line.

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Cryptocurrencies: 5,989
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Marketcap: $ 572,661,848,149
24h Vol: $ 135,542,612,774
BTC Dominance: 60.91%