If this is not the bottom how low can ada go in the bear market?

21 paź 2022

Note: im still in a long position as of now, however it is good to think of all scenarios. If this is not yet the bottom, how low can ada's price go? By looking at previous structure we can see the area of 25-28cents being strong support as it was around this area the parabolic rally to $1-3+ began. If it were to break through this area i believe the absolute lowest price possible would be around 15 cents as that is the next area that you can find some previous significant structure. This i think is unlikely however possible. Compared to other coins an approximate 50% decrease to the absolute bottom is not that bad considering even the most major of coins such as btc and eth could correct another 30-60+% under the right conditions. TO BE CLEAR: i am not saying that this will happen or is likely to happen, i am just simply doing a thought experiment and explaining where i believe price could go if we broke down further. For anyone who id interested in longterm investing with ada, i think now is a good time to start accumulating however i would noy advise scaling in too heavily since btc and eth could breakdown further again and drag the rest of the market with them.