Crypto price predictions for Cardano, Doge, Helium, Solana: JC Parets

[ad_1]

Leading technical analyst JC Parets has made a bullish call on the crypto asset that is dividing Cardano. It pays off as the token has jumped 92% since the call three weeks ago. The insider told Parets about the next step for cardano plus solana, helium, dogecoin and bitcoin. See more stories on the Insider business page.

Three weeks ago, technical analyst JC Parets took a distinctly bullish stance on the controversial cardano crypto token.

The third largest token by market cap is seen as a source of division in the crypto community because it is more centralized and has foreground leadership, which goes against some of the fundamentals of decentralized cryptocurrencies.

But Parets’ thesis was not based on the leadership of the crypto asset. It was not based on the activity of the developer.

It was all based on price action.

He predicted that the cardano would recover if the price rose above $ 1.40. And it more than bounced back, leaping 92%. It is currently trading around $ 2.70.

“When it comes to my favorite technical indicator,” Parets said, “it’s an easy answer: price.”

Even after more than 12 years in the industry as a technical analyst, Parets keeps it simple by focusing on pricing and pure technicalities. Market technicians like him study charts for patterns and trends, and the opportunities they point to.

“It all started because nothing else seemed to be working,” said Parets, who has had little success with fundamental analysis, which relies more on financial and economic data.

Technical analysis, on the other hand, works because markets move, Parets said.

“The markets are exactly the same way, a market that trends upward, hitting higher highs and lows, has a much higher probability of continuing to move in that direction than of completely reversing out. a dime, ”Parets said.

With a focus on price, Parets and his team share views on a range of asset classes, including crypto, on his blog AllStarCharts.com.

“When it comes to cryptocurrencies, we’re just doing the same thing we’ve always done, we’re analyzing supply and demand and human behavior, and it’s been incredibly beneficial,” Parets said, “and gives certainly a benefit to technical analysts in the crypto space because we’re not doing anything different. “

Since cardano’s price is now more than double where Parets set the key price point for a breakout, Insider spoke with him on August 26 to understand how he sees the price movement on a range of tokens. : cardano, bitcoin, solana, dogecoin, helium, and bit farms. Parets said he has positions in these cryptos, with the exception of bitfarms and dogecoin.

[ad_2]