Hello traders.
I believe over the next hours ADA is a potentially interesting buy.
On the 4 hour chart a few things are happening:
1) Triangle pattern nearing it's end suggesting price will break out either direction.
2) The candle is showing a potential bounce on the 200 EMA. Historically ADA has performed well on these bounces on both higher and lower timeframes. MACD indicator just lit up as well (though I don't put too much weight into that)
3) The Coinbase listing hangover could be coming to a close.... and back on track we go.
If we see a strong push against this EMA, I predict a target of $1.50 by March 30th ish. at which point we will reach a key resistance. Take all or partial profit and/ or trail your stop loss here. If it breaks this resistance, that would be huge. We'll see.
If the bounce fails, we'll look to daily charts for key levels but a failure could be bad for ADA near/mid term.
We're going to wait for confirmation over the next 1-2 4 hour candles with strong RSI/Volume on a push up. If you buy I would recommend a stop loss in the neighborhood of 1.025 conservatively, or .97 ... not conservatively as it will likely bounce at .99 and may rebound there, even with a failure at this current level.
Hope this helps... feel free to comment!