Hello friends!
ADA is still in a precarious situation. Yesterday prices did not rally to 2.00 and instead followed the more likely forecast of falling towards 1.55, reaching 1.60.
Today ADA looks likely to test the 1.55 support level, and may break down to 1.44 or lower. This is the key risk to watch for in the next 24 hours.
If a break down occurs, then further consolidation is likely to be in order over the next week. If ADA can hold above 1.55, then consolidation could be avoided. However, this would require not just holding but also a rally to overcome downward momentum
There is good news in that a reversal may be on the horizon between June 7-21. The dates will become more clear in coming days. Consolidation may delay these days, but there is a growing chance that upward momentum may take hold during this period and start the next leg up to at least $3.
Meanwhile, any consolidation below 1.55 offers buying opportunities for accumulation. Prices are unlikely to go below 1.00, but the range between 1.44 and 1.00 would be attractive.
Good luck and good fortune!
ADA is still in a precarious situation. Yesterday prices did not rally to 2.00 and instead followed the more likely forecast of falling towards 1.55, reaching 1.60.
Today ADA looks likely to test the 1.55 support level, and may break down to 1.44 or lower. This is the key risk to watch for in the next 24 hours.
If a break down occurs, then further consolidation is likely to be in order over the next week. If ADA can hold above 1.55, then consolidation could be avoided. However, this would require not just holding but also a rally to overcome downward momentum
There is good news in that a reversal may be on the horizon between June 7-21. The dates will become more clear in coming days. Consolidation may delay these days, but there is a growing chance that upward momentum may take hold during this period and start the next leg up to at least $3.
Meanwhile, any consolidation below 1.55 offers buying opportunities for accumulation. Prices are unlikely to go below 1.00, but the range between 1.44 and 1.00 would be attractive.
Good luck and good fortune!