Yesterday's crypto market downturn pushed ADA prices down. Support at 1.40 was tested several times, but held as expected. ADA was only to rebound to just under 1.44. Despite this the bull trend remains intact and higher prices should be coming soon.
Today started with a nice rally that raised prices back above 1.45, where it is currently trying to establish support. Indicators on the day are sideways at worst, but a good chance to establish support at 1.45 and lead prices higher later today/tomorrow.
Intraday Summary: Establishing 1.45 support, rise towards 1.50 likely
3H - In the second candle of the day, green EMA is below white, but both are at high levels. RSI has crossed above level 50, and LSMA is starting to bounce off level 50 and rise. Expect prices to range around 1.45 until RSI and LSMA come higher.
6H - First 6 hour candle of the day shows green EMA above white EMA, which often indicates higher highs. LSMA is starting to rise, but still low, while RSI has not yet bottomed out. Prices may range around 1.45 until mid-day when indicators have turned up.
12H - First half of the day shows green EMA having bounced off level 50 and rising. LSMA and RSI are falling, but still high and likely to turn back up. White EMA is well below level 50 but likely to reverse in the second half of the day. Thus, prices may continue to range around the upper aqua B-band (1.46) most of the day with a chance to rise towards 1.50.
1D - The daily chart continues to look bullish. RSI and LSMA continue to rise. Most importantly, B-bands look like they are starting to expand, which will allow prices to rise higher. Green EMA is flat, but likely to turn up later in the day or with tomorrow's new candle. With the green EMA higher than the white EMA, higher highs are expected. A test of 1.50 is possible today and likely tomorrow.
Breakout in 2-3 Days
The new 2D chart is looking quite bullish. RSI has crossed above level 50, green EMA is approaching level 80, and white EMA is holding at high levels. In the next candle, the green EMA is likely to move higher than the white EMA, which indicates higher highs. The LSMA is on track to cross above level 50 by July 12. A test of 1.58 remains likely in the next 2-3 days
The new 3D chart is also quite bullish. With the green and white EMA above level 70 and rising, and RSI and LSMA close to level 50, prices should rise to the region around the yellow basis line (1.56) in this candle (next three days). Like the 2D, the LSMA is on track to cross level 50 by July 12. Before then, a proper test of 1.58 is likely. If broken, prices could rise to the upper white B-band (1.77)
None of these predicitions turned out to be true. Makes me think if it's even worth to do technical analyses for ada if it's so dependend of btc. What say you?
tcblue
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@Wooder it’s easy to get discouraged. Analysts are just giving you a range of possibilities. The bullish outlook was simply on the wrong side of the yellow line. Follow up with your own multiple time frame studies to help yourself decide whether to trade. Usually, analysts follow up with a ‘this is not trading advice’ clause. I believe BTC might be losing some of its dominance OVER alts. However, general sentiment about crypto can still be gauged with it.
Wooder
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@tcblue, Yea i think you're right. Maybe it was just the description that was too focussed on positive gains and didnt show any intention of going down.
Do have to say i love the predictions by c3l3x.
ivanguzman102
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@Wooder, His accuracy still better than most traders, remember any market are probabilities it is not for certain.