Price Analysis/Prediction March 10-31

English Trading
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In terms of news we have the following confirmed events coming soon:

  1. Blockchain Africa keynote speech - Mar 18-19
  2. Full stake pool decentralization - end of March
  3. ETA for smart contracts at Cardano 360 - end of March

the first one will have the greatest potential if they give more details for the Ethiopian deal . However now Ethiopia is going through a civil war and not sure if this will cause any delays on the contract.
the second one will be critical to speed up the coinbase listing (i still believe it will happen anytime before the IPO in Summer)
the third will give a good pump if the ETA of SC is quite close (April/May) or a drop if it’s too far

So from fundamental analysis, there is more uncertainty, less hype and less potential for this month than the last one. If all three events go the best way possible we should expect to reach again the ATH ($1.50) up to $1.75-$1.95). If Coinbase gets announced then add atleast a factor of 1.5x to those ranges. That’s a big IF though.

From a TA perspective we have been consolidating for 2 weeks now and I believe we are setting ground for a new upward move to the $1.30-$1.50 range, if BTC keeps up with its current trends. If BTC corrects, we may retest the $1.05-$1.1 levels

Overall, it’s a very uncertain month but to me, it makes no sense to decrease my ADA position after this steep and long consolidation which seems to have bottomed. I will have watch the price movement and will be watching the Mar18-19 event to determine the top sell targets for this month, which would normally be in the range of $1.50-$1.85. If you want to play it extra safe then $1.25-1.29 is a much more feasible sell target to take some profits but I won’t be personally doing that.

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Unlikely the most predictions I see, altough very few, which are, to say the least, outrageous in terms of what’s happening in the project, yours are the most sober @George, backed by a decent analysis on the subject!

I personally believe the 2$ will be reached by end of march. But still, I have nothing besides wishfull thinking, and that’s almost a overstatement, vs the PoV a professional may have.

Thanks for your take in the matter! More traders should do that IMO!

cheers

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Thanks a lot for your support! I have been sharing my trading thoughts with a group of close friends for over a year now, and one suggested that I should share them on the Cardano forum as well, so here I am!

If those are useful for more traders in the community I’ll try to give monthly updates.

PS I also think as you said that the $2 is possible, but it highly depends on how the main event will unfold. Let’s see how it goes!

Cheers :slight_smile:

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You don’t need to thank! To Caesar’s whats of Caesar’s!

I’m glad you had that tip and followed it!

It would be great if you could that, I’m the one who needs to thank for that! Albeit in my case is just a need of food for thought! =)

We are just getting started; if you iniciate now
a rep. buillding with monthly updates, that will be very good to the community in the long-run!

And who knows if you don’t start your own YT channel or w/e!

Yes, definetely! Point 2 achieving and the, eventual, CB listing will pump up the jam!

cheers!

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