ADA/USD - Brief dip to 1.75, then rebound and $2 soon
Hello friends!
After a 5500mi/8800km return trip, I am back home for a couple of weeks before traveling again. I will try to post ideas more regularly during this time.
Yesterday ADA hit a new ATH of 1.97, coming very close to $2 before ADA ran out of momentum, and prices retreated.
Today we may see prices temporarily fall below 1.80 to 1.75 region at the start (good opportunity to pick up a bit more ADA before prices trade above $2). Tthe rest of the day should see prices in the 1.82 to 1.91 region, with a possible test of 2.00.
Intraday
Summary: Down start to the day, dip around 1.75 likely, then back up to 1.90 or higher.
3H - RSI falling, white EMA under level 50, and green EMA below level 50. If current candle closes at/below 50, prices will likely drop to the region around the yellow basis of 1.78 and possibly as low as 1.70 if the downward momentum were continue, but such a move would mostly likely be short-lived
6H - Green EMA is touching the RSI as it descends. Prices likely to descend to 1.80 or below, but likely to bounce and return to the region around the 1.89 B-band.
12H - Green EMA is well above the white EMA, and above both RSI and LSMA, which often indicates higher highs and continued upward momentum. However, white EMA is not especially strong and the other indicators are fairly flat, rather than rising rapidly. Price likely to stay in the upper white to upper aqua B-bands of 1.82 to 1.91
1D - White EMA has started to cross above level 50, a very good sign for further upward movement. Green EMA is above the RSI and LSMA indicating upward momentum is in control. LSMA is rising, which will likely expand the B-bands, allowing for wider range of price action. Today may see another run at 2.00, but possibly not enough momentum to break through. However, this does set up tomorrow for good chance at testing 2.00 and possibly breaking through
Rest of this week (3 days)
Summary: Possible test of 2.00, but prices likely to be in the 1.81 to 1.92 range.
3D, 5D (2 days left) - Both charts show strong upward momentum, though prices are already high within their projected price range. Prices will likely go to, or above, the upper orange B-bands of 1.90, with a likely test of 2.00. A break above 2.00 may not be possible yet, but if it does break through, then 2.08 or higher would be possible.
4D (3 days left) - Strong upward momentum, but how high prices will go will be limited by the relatively lower lefts of RSI and LSMA, and that the green EMA is lower than the white EMA. By these indicators, at 1.85, prices are already high for the range. Thus, prices may not rise much higher than 1.92, though a test of 2.00 is possible.
Next week (May 17-23)
Summary: Prices could dip to 1.70, but generally no lower than 1.85 and strong chance of testing or breaking 2.00 with 2.11 possible.
6D (5 days left) - RSI is starting to rise while LSMA is flat, but green and white EMA are rising higher and looking for new highs. Prices likely to trade in the upper aqua to upper orange B-Bands, 1.86 to 2.11.
10D (7 days left) - Green has crossed above RSI. White EMA is still below 50, but close to crossing above level 50, which would allow prices to move closer to the orange upper B-band (2.26) or above)
12D (10 days left) - Green has not crossed over the RSI or LSMA yet, and white EMA is still well below level 50. This generally suggests sideways price action between 1.65 and 1.85, though upward momentum could carry prices higher than 2.00, and as high as 2.22.
Good luck and good fortune!
After a 5500mi/8800km return trip, I am back home for a couple of weeks before traveling again. I will try to post ideas more regularly during this time.
Yesterday ADA hit a new ATH of 1.97, coming very close to $2 before ADA ran out of momentum, and prices retreated.
Today we may see prices temporarily fall below 1.80 to 1.75 region at the start (good opportunity to pick up a bit more ADA before prices trade above $2). Tthe rest of the day should see prices in the 1.82 to 1.91 region, with a possible test of 2.00.
Intraday
Summary: Down start to the day, dip around 1.75 likely, then back up to 1.90 or higher.
3H - RSI falling, white EMA under level 50, and green EMA below level 50. If current candle closes at/below 50, prices will likely drop to the region around the yellow basis of 1.78 and possibly as low as 1.70 if the downward momentum were continue, but such a move would mostly likely be short-lived
6H - Green EMA is touching the RSI as it descends. Prices likely to descend to 1.80 or below, but likely to bounce and return to the region around the 1.89 B-band.
12H - Green EMA is well above the white EMA, and above both RSI and LSMA, which often indicates higher highs and continued upward momentum. However, white EMA is not especially strong and the other indicators are fairly flat, rather than rising rapidly. Price likely to stay in the upper white to upper aqua B-bands of 1.82 to 1.91
1D - White EMA has started to cross above level 50, a very good sign for further upward movement. Green EMA is above the RSI and LSMA indicating upward momentum is in control. LSMA is rising, which will likely expand the B-bands, allowing for wider range of price action. Today may see another run at 2.00, but possibly not enough momentum to break through. However, this does set up tomorrow for good chance at testing 2.00 and possibly breaking through
Rest of this week (3 days)
Summary: Possible test of 2.00, but prices likely to be in the 1.81 to 1.92 range.
3D, 5D (2 days left) - Both charts show strong upward momentum, though prices are already high within their projected price range. Prices will likely go to, or above, the upper orange B-bands of 1.90, with a likely test of 2.00. A break above 2.00 may not be possible yet, but if it does break through, then 2.08 or higher would be possible.
4D (3 days left) - Strong upward momentum, but how high prices will go will be limited by the relatively lower lefts of RSI and LSMA, and that the green EMA is lower than the white EMA. By these indicators, at 1.85, prices are already high for the range. Thus, prices may not rise much higher than 1.92, though a test of 2.00 is possible.
Next week (May 17-23)
Summary: Prices could dip to 1.70, but generally no lower than 1.85 and strong chance of testing or breaking 2.00 with 2.11 possible.
6D (5 days left) - RSI is starting to rise while LSMA is flat, but green and white EMA are rising higher and looking for new highs. Prices likely to trade in the upper aqua to upper orange B-Bands, 1.86 to 2.11.
10D (7 days left) - Green has crossed above RSI. White EMA is still below 50, but close to crossing above level 50, which would allow prices to move closer to the orange upper B-band (2.26) or above)
12D (10 days left) - Green has not crossed over the RSI or LSMA yet, and white EMA is still well below level 50. This generally suggests sideways price action between 1.65 and 1.85, though upward momentum could carry prices higher than 2.00, and as high as 2.22.
Good luck and good fortune!
Comment:
Quick update: ADA/USD is moving fast. As forecast, 2.00 was tested, but ADA was able to break through and head past 2.08 to nearly 2.20. Upward momentum looks to continue through the first half of the day with a test of 2.20 resistance before a possible retreat to test support at 2.00. If 2.20 resistance falls, 2.28-2.30 appears to be the next level of resistance, which may be strong.