Hello friends!
Yesterday's ranged price action, although expected, was not exciting nor bullish with prices down on the day and a test of 1.30.
Today could be much more interesting. Building upward momentum may be signalling a potential break above 1.35 during ranged price action
A break above 1.40 towards 1.50 is still in play this weekend, though it could take another couple of days to play out. Overall, the bullish outlook remains intact.
Intraday
Summary: 1.30 test possible, but 1.35 test likely and 1.40 possible
3H - First 3 hours of the day prices have risen to test 1.35. Green EMA is at level 50 while RSI and LSMA are rising. It may take several candles for 1.35 to be properly tested and break above if upward momentum continues. Meanwhile, expect prices around 1.35.
6H - First 6 hours of the day are bullish. White EMA is about to cross above level 50 while Green has already crossed above 50. LSMA is bottoming out and RSI is on the rise. Prices may range around 1.35 at the start of the day, but if the LSMA rises along with green EMA above white EMA, prices could rise towards 1.40 later in the day.
12H - First half of the day looks bearish with green EMA under level 50 and RSI falling. However, the basis in the second candle of the day is likely to be around 1.32 and B-bands are narrowing. This will limit downside. A test of 1.30 is possible (and unlikely to be broken), but should range between the basis and the upper white B-band (1.32 to 1.36)
1D - The daily looks bullish, but this is likely temporary. RSI and LSMA are still rising, though slowly. Green EMA has dropped below level 50 but prices are already below the yellow basis of 1.37. Rising prices today could easily reverse the downtrend of the green and white EMAs, or at least flatten them out. A fall to 1.25 (lower white B-band) is possible but the upward momentum in lower timeframes makes this unlikely. 1.30 should hold today.
Next 3 Days
If prices rise in the next 24 hours, the green EMA in the 2D could flatten or rise. With rising RSI and white EMA still high, higher prices would be expected
With 24 hours left the 3D looks very close to the green closing at level 50. Even if it comes up short, the general trend is still bullish. Prices will need to close around 1.35 or above to cement this in the next candle.
Upward momentum is in control in the 4D (2 days left). Prices should rise towards 1.40.
A rally to 1.50 or higher may not be in store until July 4-5, but continues to show a strong chance.
Good luck and good fortune!
Yesterday's ranged price action, although expected, was not exciting nor bullish with prices down on the day and a test of 1.30.
Today could be much more interesting. Building upward momentum may be signalling a potential break above 1.35 during ranged price action
A break above 1.40 towards 1.50 is still in play this weekend, though it could take another couple of days to play out. Overall, the bullish outlook remains intact.
Intraday
Summary: 1.30 test possible, but 1.35 test likely and 1.40 possible
3H - First 3 hours of the day prices have risen to test 1.35. Green EMA is at level 50 while RSI and LSMA are rising. It may take several candles for 1.35 to be properly tested and break above if upward momentum continues. Meanwhile, expect prices around 1.35.
6H - First 6 hours of the day are bullish. White EMA is about to cross above level 50 while Green has already crossed above 50. LSMA is bottoming out and RSI is on the rise. Prices may range around 1.35 at the start of the day, but if the LSMA rises along with green EMA above white EMA, prices could rise towards 1.40 later in the day.
12H - First half of the day looks bearish with green EMA under level 50 and RSI falling. However, the basis in the second candle of the day is likely to be around 1.32 and B-bands are narrowing. This will limit downside. A test of 1.30 is possible (and unlikely to be broken), but should range between the basis and the upper white B-band (1.32 to 1.36)
1D - The daily looks bullish, but this is likely temporary. RSI and LSMA are still rising, though slowly. Green EMA has dropped below level 50 but prices are already below the yellow basis of 1.37. Rising prices today could easily reverse the downtrend of the green and white EMAs, or at least flatten them out. A fall to 1.25 (lower white B-band) is possible but the upward momentum in lower timeframes makes this unlikely. 1.30 should hold today.
Next 3 Days
If prices rise in the next 24 hours, the green EMA in the 2D could flatten or rise. With rising RSI and white EMA still high, higher prices would be expected
With 24 hours left the 3D looks very close to the green closing at level 50. Even if it comes up short, the general trend is still bullish. Prices will need to close around 1.35 or above to cement this in the next candle.
Upward momentum is in control in the 4D (2 days left). Prices should rise towards 1.40.
A rally to 1.50 or higher may not be in store until July 4-5, but continues to show a strong chance.
Good luck and good fortune!
Comment:
Update: For those who have been asking about BTC, I did an analysis of the intraday through next 10 days. There are risks of testing 32k or even 30k, but the broader picture looking to be improving with bullish indications >4 days out. It is unclear how this will affect ADA, but if it plays out per the analysis, the bullishness in ADA is supported by BTC's trends, though it may take longer than predicted for ADA to rally as forecast.
