entertheroach

ADA still doing great in its longterm uptrend

Long
KRAKEN:ADAUSD   Cardano
ADA looks like it will end 2020 very strongly. Just look at how far ADA has come since March 2020. ADA is still in a longterm uptrend. At the moment, the short-term uptrend is a bit weak as we can see from the ADX line which is at 14 but it does look like the ADX line has a slight slope upwards so we could see a move upwards towards the 20 level. The short-term uptrend is weak but its still an uptrend because we can see that the +DI is still above the -DI level. So we will possible see some consolidation until the ADX line goes above 20-25 for the short-term. ADA is still in its longterm upwards Pitchfork Pattern and has attempted to break though the median line twice over the last 3 days. Our old symmetrical triangle has now become support so unless BTC drops, ADA has quite a bit of support below it, but if ADA does drops more, then i don't think it will stay very long below the symmetrical triangle. Hopefully we will see stronger movements upwards approaching and after the Goguen launch in March 2021. I haven't added it on this chart because it would become too messy, but ADA is also still in its Bullish Zone of its Ichimoku Cloud on the daily, and well above its Fibonacci Pivot Point level. I hope this is helpful & have a happy new year.
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