Hello traders! ADAUSD just broke it's consolidation. Get ready! Do not forget to like and follow.
1. ADAUSD hasn't had its big craze(e.g. XRP, DOGE)
Alt coins have been taking crazy pills. For example the DOGE 800% increase. The breakout in the triangle of Cardano Indicates that the craze of ADAUSD has started. It is now ADA's turn.
2. Breakout of triangle with 500% volume!
As we all know, a breakout must be accompanied by a volume spike. The breakout of ADAUSD had this factor, indicating the large presence of the bulls.
3. EffDi confirms breakout with Fib retracement 1.618
Plotting a Fib in the EffDi, we can notice that the EffDi line can't dive below the Fib 1.618. Very bullish, many bulls indeed.
4. "Buy on the dip": Price pullback to 0.38 line healthy
The previous .38$ resistance now acts as support as price dipped until there. Low volume on pullback means that the ADA holders are not yet taking many profits. Bullish!
5. MA Channel to serve as spring
The MA channel just acted as support, giving us confidence... that ADA boom is coming!
7. ADA's ATH will attract buyers and buyers
An all time high usually makes headlines. This is a boost for our incoming up move! Get ready.
All of that said, it makes ADA a must-coin to put into your watchlist. Get ready to see this stock craze! Good luck, traders!
Do not to forget to like and follow for more crypto analysis!
Indicator used:
MA channel(MAC) by Jacob Bernstein, MA lengths modified by Trader_ph
Effective Divergence Indicator(the dots not released yet) by Trader_ph
Comment:
ADAUSD is now at .42, congrats holders
