https://www.tradingview.com/chart/X8yaAewV/
Cardano had been on the move since Sep 12th where it bottomed at .06089, topped out at .07181 on the 13th, than sideways traded till it bounced off .06193 on Sep 18 when a significant reversal happened that lasted till Sep 23 and topped out at .09390. Unfortunately the 4 hr Higher Lows have been lost, and along with them the 12 period EMA. We still haven't lost the 26 period EMA so that's a good sign. RSI bottomed on the Sep 12th at 20 and where it topped at around 78 on the 21st where it has cooled off. Currently trending up from 49.
Support: .06089, .07920, .08200
Resistance: .09383, .10617 (to even get over the last major dump on Sep 5th), .19701 to think about changing the weekly trend.
Volume: Declining
EMA: on the 4 hour we are holding the 26 period and attempting to get over the 12 period.
Honestly if I am reading this correctly ADA must at least get to around .15-.19 to change the daily/weekly trend to the upside. We are a LONG way from this in a bear market. Until BTC breaks out of it's weekly downtrend I would trade cautiously. Since we have run so hard to the upside so quickly and the long term trend is still bearish I will keep ADA on my list of crypto to watch till the odds in favor of the bulls are better.
Disclaimer:
Again, I am NOT an expert. This is partly my way of learning as I go by posting my analysis. Thanks.
Support: .06089, .07920, .08200
Resistance: .09383, .10617 (to even get over the last major dump on Sep 5th), .19701 to think about changing the weekly trend.
Volume: Declining
EMA: on the 4 hour we are holding the 26 period and attempting to get over the 12 period.
Honestly if I am reading this correctly ADA must at least get to around .15-.19 to change the daily/weekly trend to the upside. We are a LONG way from this in a bear market. Until BTC breaks out of it's weekly downtrend I would trade cautiously. Since we have run so hard to the upside so quickly and the long term trend is still bearish I will keep ADA on my list of crypto to watch till the odds in favor of the bulls are better.
Disclaimer:
Again, I am NOT an expert. This is partly my way of learning as I go by posting my analysis. Thanks.
Hopefully you can see the resistance at .19701 on the daily chart. I'm still learning how to use Trading View so my apologies.