ADA At Crucial Level. Further Correction If Cannot Regain 50%Fib
BTCUSD hangs on to $10K!
DXY continues to find relief closing above $93.00 today, all while creating separation from its 2011 trend line.
ADA - RSI hovers above oversold territory. As price dips below the 50% Fib. Level at $0.09449, now acting as local resistance. The March trend line is just below to sandwich Cardano's price between dry toast, with a break one way or the other! It feels to me that ADA is being drawn to the 61.8% Fib., unless it retakes the 50% level with convincing fashion!
Should BTCUSD continue to correct, then 61.8% becomes a question for ADA. The longer BTC takes to show its hand around these levels leaves many Alts hanging in the balance! Ultimately, or not, the next level for Cardano ADA is at 78.6% Fib. retracement level just above $0.05 cent mark!
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DXY continues to find relief closing above $93.00 today, all while creating separation from its 2011 trend line.
ADA - RSI hovers above oversold territory. As price dips below the 50% Fib. Level at $0.09449, now acting as local resistance. The March trend line is just below to sandwich Cardano's price between dry toast, with a break one way or the other! It feels to me that ADA is being drawn to the 61.8% Fib., unless it retakes the 50% level with convincing fashion!
Should BTCUSD continue to correct, then 61.8% becomes a question for ADA. The longer BTC takes to show its hand around these levels leaves many Alts hanging in the balance! Ultimately, or not, the next level for Cardano ADA is at 78.6% Fib. retracement level just above $0.05 cent mark!
Give this post a thumbs up and leave a comment about your thoughts! It's all greatly appreciated!
Target met.
Question becomes; Does Bitcoin break lower?
If so, the perhaps there's more downside to alts.
$0.05 becomes next level of contention for ADA near 0.786Fib. Level of March-July Rally.