Browse Stacks: Patterns: Channels: slopechart_$ADA.jpg
Here is some ammunition for the crypto haters. This is Cardano, the greatest crypto ever and will eventually leave all the others in the dirt. Grandma always told me flattery will get you no where.
This chart is representative of many an altcoin at the moment. If you are zoomed in, it looks like a rocket ride. Zoom out, and you can see the wall of people that got monkey-hammered in the last 90% bear. An all time high gets broken, but the chart goes no where fast. How much supply is there? I have no idea, but it is enough to stop many of these dead in their tracks.
Some of the newer coins with decent market caps show the same story, only the bagholders are newer, and the highs higher.
To be blunt, I think some of these need to tear ass to the upside or winter is coming. Which that will be I know not, nor when, but the massive gains in the last year can be imagined as a pretty stiff impediment when coupled with old highs that act like saftey bumpers at the go cart track.
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