ADA chart RSI favorable on smaller charts, not so favorable on bigger charts. Potential to see a dip and BIG run. One support trend. Buy zone marked Price targets marked Potential to see a wick down to 10 cents, but lots of potential to hold that sub 30 cent price. I'd be patient, and see what happens before jumping in, but having said that, short term could rocket the price, however, it really needs to clear 63, in my opinion. I think the potential is there to see a quick drop to price targets and a run to all time highs, which aligns with a lot of the crypto market.
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target zone on the upside reached, it is technically a sell target for a potential dip. Does this mean sell asap, no. But depending on your strategy, you may decide to take profits, wait or buy into this range hoping for more upside. Lots of potential moves.
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this chart still kinda reads bullish. I didn't look very closely so don't take my word for it. Might take a closer look later if time. good luck!
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Personally, I think our buy zone will hit. There is a rejection point incoming, a sharp downward trend, and a large support trend. It would be much better to see the price hit the lows before the run. Projection gives a rough guess as to what it could look like, but time frame is going to be the question.
I would have cash free to buy the dip should we see a strong drop to those low targets, which would be a 40% or greater loss in the short term, but should you buy the dip, you can easily make and save a lot of money on some quick movements.
If you're buying to hold, you're simply collecting the dips, following your strategy. As far as price, I think the buy targets marked are the ones to keep an eye for. .34 and .26
May come down to .53 cents, depends if Bitcoin wants to come down to 60K again. If ADA starts closing below .53 on a weekly, we're going back down to .30 cents as likely Bitcoin will return to 45K. But if it maintains .53 cents and can reestablish weekly closures above .63 cents like you said. 1.00 will be short term sell off, then 1.25-1.35 as major top. From there I don't see too much stopping it from $6-$8 as a cycle high.
nicktussing77
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@seanders_, Think we make it to .3 or hold this area?
seanders_
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@nicktussing77 I didn’t expect ada to fall this hard against btc. I think we’ll hold .53 this week and could be a great buy opportunity. But we’ll see next week. Btc can still go to 60k and still hold a lot of bullish momentum while ada will look a lot weaker long term
nicktussing77
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@seanders_, If you like patterns, match this one up percentage wise with ADA, and you'll get a better idea of the next move. I think this is where the drop is kind of coming from in a way. Obviously the drop doesn't come from the pattern and the pattern is forming because of the drop, but essentially if the pattern finishes out, you can see 1.2 and then back down to .69 BIG TIME AGREEMENT, OPPURTUNITY!!
seanders_
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@nicktussing77, Here is what I am seeing. the bottom dropped out on ADA/BTC. BTC could drop to 59-60K on a weekly closing bases and still good for upside after that (new ATH). But ADA could still go to .30 cents if BTC only goes to 59-60K, because that ADA/BTC is so weak right now. If ADA can close above .55 cents this week, I think will look go long term, and that capitulation was a great opportunity. Otherwise I really think .30 cents is the target. Really comes down to how BTC wants to close this week though.
nicktussing77
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@seanders_, great post, I really don't have much to add because I think you're spot on.