BINANCE:ADAUSD   Cardano / US Dollar (calculated by TradingView)
Quick ADA update:

ADA is in a Descending Channel . You can see the various support and resistance levels that ADA has had as resistance and support after it broke out from its previous Ascending Wedge .

ADA has found support from its 2nd upwards support line.

ADA is still in the Bearish Zone for this 4hr timeframe. Note we have had a Cloud Twist (Kumo) into a red cloud.

ADA is below its Bollinger Bands Middle Band Basis 20 Period SMA for this 4hr timeframe.

ADA is still below its 50EMA for this 4hr timeframe.

The Average Directional Index ( ADX ) is showing the ADX (Yellow Line) at 36.55 dropping below its 9 Period EMA (Blue Line) which is at 37.92 indicating trend strength is dropping. The -DI (Red Line) is at 24.07 still above its +DI (Green Line) which is at 12.4. Notice that the -DI (Red Line) has dipped and the +DI (Green Line) is starting to slope slightly sideways. For the longterm, we need the +DI (Green Line) to cross back above the -DI (Red Line) to indicate positive momentum has overtaken negative momentum on this 4hr timeframe.


The Chaikin Money Flow ( CMF ) is showing that the CMF (Green Line) is inside the Distribution Zone and at -0.16 and under its Least Squares Moving Average ( LSMA ) which is at -0.08. Notice that the CMF (Green Line) is now pointing upwards. For the longterm, we need the CMF (Green Line) to cross back into the Accumulation Zone fro this 4hr timeframe.


ADA is still below its Volume Profile Visible Range VPVR Point of Control (POC) for this 4hr timeframe.

ADA is still below its Volume Profile Fixed Range VPFR Point of Control (POC) for this 4hr timeframe.

Volume is still relatively low and this 4hr volume bar is below its Volume 20 Period Moving Average. It’s a good thing that these dips are happening on low volume which indicates just a short-term dip from possible profit taking or week hands.

I still believe that any dips with ADA should be used to accumulate more ADA to which you can stake your ADA to earn even more ADA. But if your trading & waiting for full bullish confirmation for this 4hr timeframe, then ADA needs to cross back above both Volume POC levels, the Bollinger Band Middle Band Basis, the Leading Span B (Senkou Span B), the 50EMA and then the Leading Span A (Senkou Span A) levels and turn these levels into strong support. For further confirmation, crossing into the Bullish Zone ideally needs to be on high volume .

I hope this is helpful with your Trading and Hodl-ing.

Comment: 4hr Chart Update:

ADA is has broken through the Leading Span B (Senkou Span B) cloud resistance and is now in the Ichimoku Cloud Equilibrium Zone.

At the moment of typing this, ADA is back above its 50EMA and its Bollinger Bands Middle Band Basis 20 Period SMA for this 4hr timeframe.

Notice that the Bollinger Bands Upper and Lower Bands are starting to expand outwards on this 4hr timeframe.

ADA is also back above its Volume Profile Fixed Range VPFR Point of Control (POC) on this 4hr timeframe.

ADA is also back above its Volume Profile Visible Range VPVR Point of Control (POC) on this 4hr timeframe.

Next step is the Bullish Zone for this 4hr timeframe, so we need ADA to eventually close a 4hr candle above the VPVR POC, and then attempt a break through of the Leading Span A (Senkou Span A) cloud resistance and turn that level into strong support. If your still uncertain, then Bullish Confirmation will be when the Leading Span B (Senkou Span B) and Leading Span A (Senkou Span A) levels flip back over one another (Kumo Twist) creating a new bullish green cloud for this 4hr timeframe.


I hope this is helpful.
Comment: Chaikin Money Flow (CMF) updated:

Notice that the CMF has increase to -0.06. We eventually need the CMF to cross back over into the Accumulation Zone for tis 4hr timeframe. Also notice that the CMF (Green Line) has crossed back over its LSMA (Blue Line) indicating renewed accumulation strength.

Average Directional Index (ADX DI) updated:

Notice that the +DI (Green Line) is now at 25.41 and has crossed back above the -DI (Red Line) which is now at 19.71 indicating that positive momentum is now stronger than negative momentum on this 4hr timeframe. ADX (Yellow Line) is at 26.58 still below its 9 Period EMA (Blue Line)which is at 31.67. We need the ADX to eventually cross back over the 9 Period EMA for this 4hr timeframe.
Comment: Note that ADA has broken out of its Descending Channel and has turned the recent descending resistance line into support, also ADA has tested this support line twice and both times closed above this level on this 4hr timeframe. It looks like ADA will make it 3X 4hr candle that close above this support line.
Comment: Quick ADA update:

ADA is below its 50EMA for this 4hr timeframe.

ADA is below its Bollinger Bands Middle Band Basis 20 Period SMA for this 4hr timeframe.

ADA is back in the Bearish Zone of the Ichimoku Cloud for this 4hr timeframe.

ADA is below its Volume Profile Visible Range VPVR Point of Control (POC) for this charts visible range.

ADA is above its Volume Profile Fixed Range VPVR Point of Control (POC) for the range that i have selected.

At the moment of typing this, ADA is in a new descending channel and has upwards momentum. ADA needs to close a 4hr candle above the new Descending Channel and above the Bollinger Bands Middle Band Basis 20 Period SMA and turn those levels into strong support.

Comment: 4hr Chart update:

Comments

Thanks for sharing this detailed chart and written analysis. It was featured in Editors' Picks!
200 coins
+6 Reply
Thanks for your amazing efforts on this. Super helpful from both a trading perspective and educational one.
+9 Reply
I love your explanation and break down. Something I need work on
+3 Reply
Thank you, best one ever
+2 Reply
@blakhawk you're right
+1 Reply
value analysis is much more reliable than technical speculation... it is 95% risk
+2 Reply
The weekly says 91 days till next climb. Which is perfect for SEC regulaitons, ECB, and Powell to disappear.
+2 Reply
A nice technical analysis not my system but wouldn't mind learning it just to have it as knowledge
+1 Reply
Excellent as ever Mr Enter
+1 Reply
very detailed and thorough. great job!
+1 Reply