Quick note that after running up to 1.23 yesterday, ADA/USD has fallen 7% along with the broader market. After falling through 1.20, the 1.15 region has already been reached.
The current pattern is similar to March 4, 2021. The difference is that the Bollinger Bands were wider then, so ADA is not likely to fall as far as it did then. A drop to 1.11 seems quite likely, but could wick to 1.08 (lower aqua B-band).
Unless there is a rally in the broader market, indicators in today's new 3D chart are suggesting that prices may start to consolidate around 1.11 over the next several days. In doing so it would break the 1.20 channel in favor of a lower channel around the 1.11 fib. In the 5D chart (2 days remain), the green EMA indicator is now at 54. If ADA continues down to 1.11 and that is the new region, it is quite possible that the 5D green EMA could close at/below 50 in two days, making a further drop to 1.03 or below likely in the following 5 day candle.
We will not know for 2-3 more days how certain a lower drop in prices will be nor how low it will go, but from 1.11 and below we are entering a buy zone. It may be wise to consider spreading out multiple orders between .80 and 1.11 in this buy zone to ensure you are able to pick up ADA on the dip. As always, manage your risk and confirm with your own analysis.
Good luck and good fortune!
The current pattern is similar to March 4, 2021. The difference is that the Bollinger Bands were wider then, so ADA is not likely to fall as far as it did then. A drop to 1.11 seems quite likely, but could wick to 1.08 (lower aqua B-band).
Unless there is a rally in the broader market, indicators in today's new 3D chart are suggesting that prices may start to consolidate around 1.11 over the next several days. In doing so it would break the 1.20 channel in favor of a lower channel around the 1.11 fib. In the 5D chart (2 days remain), the green EMA indicator is now at 54. If ADA continues down to 1.11 and that is the new region, it is quite possible that the 5D green EMA could close at/below 50 in two days, making a further drop to 1.03 or below likely in the following 5 day candle.
We will not know for 2-3 more days how certain a lower drop in prices will be nor how low it will go, but from 1.11 and below we are entering a buy zone. It may be wise to consider spreading out multiple orders between .80 and 1.11 in this buy zone to ensure you are able to pick up ADA on the dip. As always, manage your risk and confirm with your own analysis.
Good luck and good fortune!