ADA has been off its EMA 200 for almost a month and a half. Having already observed long periods of sideways consolidation, I believe ADA will come back to the 200 (yellow box) before a big upward movement. Once the market is bull again by March, I would not be surprised to see ADA pull a Ripple and 2x (or moon) in a very short time span.
However, expect another steep prolonged correction to follow most likely to the red box, lasting weeks.
However, expect another steep prolonged correction to follow most likely to the red box, lasting weeks.
Comment:
Nice little upward break this morning. I'm very bullish on ADA but we need to see test and breakthrough of 6000 before I'm convinced we're finally on the up.
