Hello all! A follower has requested to take a look at ADA!
This is a nasty looking chart to say the least. After losing nearing ALL of its valuation, ADA is hanging on by a thread just over $0.05 and UNDERNEATH a critical support turned resistance. The gold Circle on the chart marks this price over the tip of the triangle that acted as the level to keep the price down as well as the kick off a major rally to the upside. Price will need to get above $0.07 to test the $0.10 level. If a major bull cycle starts from this point here then we could see prices of $0.16-$0.35 as the upper limits. MACD is showing positive momentum shifting with a green Heiken Ashi candle on the 1W chart. RSI has just bounced off the same level before the January rally. If the ALT season has begun - which i explain why in a previous post- we should be seeing ADA reach the upper line. Getting over this resistance will be a challenge however. At this point there is no reason to believe the all time highs can be achieved. If price consolidation gets over the resistance and turns to support we might be talking about revisiting $1.00
Let me know what you think ! This is an open discussion!
Leave a like and comment!
This is a nasty looking chart to say the least. After losing nearing ALL of its valuation, ADA is hanging on by a thread just over $0.05 and UNDERNEATH a critical support turned resistance. The gold Circle on the chart marks this price over the tip of the triangle that acted as the level to keep the price down as well as the kick off a major rally to the upside. Price will need to get above $0.07 to test the $0.10 level. If a major bull cycle starts from this point here then we could see prices of $0.16-$0.35 as the upper limits. MACD is showing positive momentum shifting with a green Heiken Ashi candle on the 1W chart. RSI has just bounced off the same level before the January rally. If the ALT season has begun - which i explain why in a previous post- we should be seeing ADA reach the upper line. Getting over this resistance will be a challenge however. At this point there is no reason to believe the all time highs can be achieved. If price consolidation gets over the resistance and turns to support we might be talking about revisiting $1.00
Let me know what you think ! This is an open discussion!
Leave a like and comment!
Comment:
Of course short term there will most likely be period of consolidation. Price has moved up quickly and will need to be caught up by the moving averages.
Of course short term there will most likely be period of consolidation. Price has moved up quickly and will need to be caught up by the moving averages.
Comment:
Just an example of this period! The triangle can manifest itself in a number of ways!
Comment:
immediate term we might see a bounce back to the down sloping resistance line.
price could break this channel on this attempt or make one more low.
immediate term we might see a bounce back to the down sloping resistance line.
price could break this channel on this attempt or make one more low.
Comment:
Short term development. Attempting higher prices!
Short term development. Attempting higher prices!
1D chart. Potentially we have more upside move to come with $0.06 the area of interest