ADA/USD - Sideways under 2.00, but trending down towards 1.60
Hello friends!
Yesterday, ADA started just above the critical level of 1.43. Despite a dip to 1.32, ADA/USD was mostly higher on the day, reaching 1.95 on a wick before settling in the 1.80 to 1.85 region.
Holding above above 1.43 and rallying 20%+ on the day demonstrates that weakness is limited both in depth and duration, but ADA is not ready for another rally yet.
Today, there is a mix of signals that may allow a small rally, then trend downwards. Further consolidation to 1.60 or below is possible in the coming 2-3 days.
Intraday/Daily
Summary: Rise to 1.95 or even test of 2.00 possible, but prices likely to continue sideways and start to fall to 1.70 or below.
3H - Upward momentum with green above white EMA, and RSI and LSMA rising. The rise is shallow, but likely to push prices towards the upper white Bollinger band of 1.91 or a bit higher.
6H - Although RSI is rising, both RSI and LSMA are below level 50. White EMA is descending and green EMA is flat. This suggests that prices may reach the yellow basis area around 1.94, but on low upward momentum, prices may stay in the 1.80 to 1.85 region or even sink towards 1.70 (lower white B-band).
12H - Green has crossed above LSMA and RSI, and is above level 50. Green is under level 50, so no new highs can be expected, but prices could reach the yellow basis around 1.93. If upward pressure slows, prices may retreat towards the 1.80 area.
1D - RSI descending to near level 50, while green is ascending near level 50. A crossover to upward momentum could come in the next day (not today), but white EMA is still very low and slow to rise. This suggests that prices will move towards the yellow basis at 1.73, and potentially towards the area around 1.60-1.65 later in the day.
Next 2-4 days
Summary: Risk of consolidation to 1.56, and prices generally around 1.65-1.80
2D (new) - RSI is below level 80, white EMA is very low, and green EMA is below level 50. If this pattern persists, it is likely that prices will move to the region around the yellow basis (1.53-1.58) in the next 48-72 hours
4D (new) - White EMA is around level 50, indicating falling momentum, while other indicators are flat and green is lower than RSI, suggesting sideways price action with a bias towards the downside. Prices likely to stay between upper white and upper aqua B-bands (1.67 to 1.81)
5D (new) - Similar to the 4D. Except white EMA, indicators are higher than the 4D, but in the 5D the green EMA has crossed below both RSI and LSMA indicating stronger downward momentum. Prices likely to move towards the white upper B-band (1.64)
Good luck and good fortune!
Yesterday, ADA started just above the critical level of 1.43. Despite a dip to 1.32, ADA/USD was mostly higher on the day, reaching 1.95 on a wick before settling in the 1.80 to 1.85 region.
Holding above above 1.43 and rallying 20%+ on the day demonstrates that weakness is limited both in depth and duration, but ADA is not ready for another rally yet.
Today, there is a mix of signals that may allow a small rally, then trend downwards. Further consolidation to 1.60 or below is possible in the coming 2-3 days.
Intraday/Daily
Summary: Rise to 1.95 or even test of 2.00 possible, but prices likely to continue sideways and start to fall to 1.70 or below.
3H - Upward momentum with green above white EMA, and RSI and LSMA rising. The rise is shallow, but likely to push prices towards the upper white Bollinger band of 1.91 or a bit higher.
6H - Although RSI is rising, both RSI and LSMA are below level 50. White EMA is descending and green EMA is flat. This suggests that prices may reach the yellow basis area around 1.94, but on low upward momentum, prices may stay in the 1.80 to 1.85 region or even sink towards 1.70 (lower white B-band).
12H - Green has crossed above LSMA and RSI, and is above level 50. Green is under level 50, so no new highs can be expected, but prices could reach the yellow basis around 1.93. If upward pressure slows, prices may retreat towards the 1.80 area.
1D - RSI descending to near level 50, while green is ascending near level 50. A crossover to upward momentum could come in the next day (not today), but white EMA is still very low and slow to rise. This suggests that prices will move towards the yellow basis at 1.73, and potentially towards the area around 1.60-1.65 later in the day.
Next 2-4 days
Summary: Risk of consolidation to 1.56, and prices generally around 1.65-1.80
2D (new) - RSI is below level 80, white EMA is very low, and green EMA is below level 50. If this pattern persists, it is likely that prices will move to the region around the yellow basis (1.53-1.58) in the next 48-72 hours
4D (new) - White EMA is around level 50, indicating falling momentum, while other indicators are flat and green is lower than RSI, suggesting sideways price action with a bias towards the downside. Prices likely to stay between upper white and upper aqua B-bands (1.67 to 1.81)
5D (new) - Similar to the 4D. Except white EMA, indicators are higher than the 4D, but in the 5D the green EMA has crossed below both RSI and LSMA indicating stronger downward momentum. Prices likely to move towards the white upper B-band (1.64)
Good luck and good fortune!
Comment:
Quick update: As forecast, ADA retraced below 1.60 (though a bit faster than expected). There is still sustained downward momentum, which may allow a test of 1.43 again. As before, this is a key level to watch. If it breaks that region, prices could continue to slide further to 1.34, 1.28, or lower.