As we all know, markets tend to be oscillators or trenders. In this case, ADAEth is an oscillator which goes between price bands.
IMO ada at $1.30 signified a local market top relative to ETH. Eth has a lot of fundamentals going for it soon - extra shard chains, POS, layer 2 updates etc. which will improve it's scalability and lower transaction fees.
ADA is still vapourware for the most part, although with potential with partnerships in Africa etc. Nevertheless, $300 billion market cap is fairly overvalued IMO at this stage. I would be going for a short here all the way back to support.
IMO ada at $1.30 signified a local market top relative to ETH. Eth has a lot of fundamentals going for it soon - extra shard chains, POS, layer 2 updates etc. which will improve it's scalability and lower transaction fees.
ADA is still vapourware for the most part, although with potential with partnerships in Africa etc. Nevertheless, $300 billion market cap is fairly overvalued IMO at this stage. I would be going for a short here all the way back to support.
I'm not really trading this one as ADA is the new stable coin ;) but it's still good to observe an important pair.