Charles Hoskinson (founder of Cardano) said we could take 140 million ADA (about 100 million dollars from the network's treasury) and use them to buy Bitcoin and stable coins like USDM and USDA, and people were divided
🟢 The team saw it as a strong step that will open the doors for DeFi and increase liquidity
🔴 Another team said, are you going to let the currency float or what? This could pressure the price even more!
And between this and that...
ADA dropped about 6% after this talk! This means the market is tense and investors are on edge.
💰 The price now is around $0.63, in the last 24 hours it moved from $0.629 to $0.644 and in a week it lost about 5.7%... it started above $0.67 and gradually went down until now
📉 What do the market indicators say?
The general trend in the market is leaning downwards and the price is below all important averages (50 – 100 – 200 days)
RSI is around 42... meaning the market mood is more selling than buying
MACD still has a downward crossover, so the signs of an upward trend aren't very clear
Support is around $0.62 and resistance is around $0.68, and if we break it, we can soar a bit upwards
🎯 So what do we do?
🔸 Be cautious... the market is volatile, and whales are selling a lot these days
🔸 Wait for a clear signal (RSI above 50 or MACD crossing upwards)
🔸 If the price breaks $0.68 with decent volume... then we might consider a quick entry, but also with a clear stop
🔮 Two scenarios ahead of us
If the plan is executed quietly and liquidity starts to flow into ADA, it could break $0.70 and continue upwards
If people panic and the treasury is mismanaged... the price could drop to $0.58 or lower