ADA/USD - Break above 1.40 likely, 1.57 by Monday

BINANCE:ADAUSDT   Cardano / TetherUS
Hello friends!

Yesterday was an exciting day with several tests of support at 1.30 and indicators that looked quite negative in the first half. Some followers were skeptical of a rally, and I was also nervous that my analysis was incorrect. The forecast was, "1.30 test possible, but 1.35 test likely and 1. 40 possible." In the end, 1.30 held and a strong rally started midday breaking above 1.35, establishing support at 1.35, and then rising to 1.39, fulfilling the forecast.

More importantly, the rally demonstrated that higher prices are likely in the near future, supporting the trend that I have been discussing recently.

Today, ADA will try to break above 1. 40 and find new highs. Over the next few days prices should test 1.50, with a good chance of breaking above by July 5 and heading towards 1.60.

Further out there are some signs that the next leg up may come mid to late July. I will discuss this in another post when I look at more macro trends, but a hint it to extrapolate where the green EMA will be in relation to white EMA when they cross level 50 in the 6D, 1W, or 9D. If the LSMA starts rising and B-bands expand, it could be quite exciting.

Summary: Support at 1.35, test of 1. 40 likely, possible break above towards 1.47

3H - Indicators in the first 3 hours of the day are starting out bullish . Timeframes below the 3H (45m, 90m) suggest sustained upward momentum to new highs with Bollinger Bands expanding, which will allow higher prices. Some profit taking could lead to a bit of oscillation under 1. 40 , but 1. 40 is likely to be tested early in the day.

6H - First 6 hours of the day also looks bullish . White EMA is high with green just a bit below white indicating strong upward pressure. LSMA has crossed above level 50 and B-bands are expanding, which will allow higher prices. RSI is about to cross above level 50. Prices may still be challenged to rise above the upper aqua (1. 40 ) in the first candle fo the day, but without a pullback there is a good chance of a test and break above 1. 40

12H - First half of the day looks bullish with green EMA touching the LSMA . This indicates that upward momentum is in control. RSI is starting to rise after having come close to level 50. LSMA is rising, expanding B-bands for wider price action. Most encouraging is that green is higher than the white EMA . If upward momentum continues, this will lead to higher highs, which combined with expanding B-bands could rapidly increase prices.

1D - The daily looks excellent for price appreciation. RSI and LSMA are continuing their rise with RSI firmly above level 50. LSMA could cross above level 50 by July 5, which would allow B-bands to expand. Even now, green EMA is higher than white, allowing for higher highs. Green higher than both RSI and LSMA confirms upward momentum in control. This pattern indicates a good probability of sustained upward momentum. Today prices could rise towards the upper white B-band (1.47) if, and when, resistance at 1. 40 is broken. Prices may not reach 1.47 in the day, but could reach the region around 1.45 and establish support at 1. 40

Next 3 Days

2D - (24 hours left) - As long as prices do not fall back below 1.35, the green EMA is likely to close above level 50. With white EMA above level 80 and RSI rising, prices in the next candle starting tomorrow are likely to move towards the yellow basis (1.49). LSMA , however is still low, and rising towards level 50 will likely keep B-bands narrow. However, there is a good chance that in the next candle there will be enough momentum to test 1.50.

3D - (new) - As expected, green EMA closed above level 50. RSI and LSMA are rising. Green is lower than white. When combined with LSMA and RSI lower than 50 means price upside is limited, but the Bollinger bands are quite wide. The upper white, for instance, is just under 1.80. In the current candle it is probable that ADA will rise to the region around the yellow basis (1.57). Note that it may not reach quite that high as there will be resistance, particularly at 1.50.

Good luck and good fortune!