Bearish divergence is growing between MACD lines ( Purple Arrow Mark). RSI higher low support trend is broken ( Orange Arrow Mark). Last confirmation will be that price breaks support trend line ( Blue Line). Mary update kept people hyped but ADA needs a correction right now. It may fall until previous support 0.80 area.
Bullish Case Scenario
Altough TA says reverse, let's keep it in mind we are on different cycle, some of them call it "super" cycle. Crypto currencies get attention so much especially from institutional investors(bunch of boomers dont know about cycles of crypto market but have lots of money in a nutshell) who can change trends. I suggest not to stay on short positions for a long time until the bull season ends. Don't be greedy and deal with %30 to close short positions. If price manage to hold over support trend line (Blue Line) ADA may go up to new ATH.
Bullish Case Scenario
Altough TA says reverse, let's keep it in mind we are on different cycle, some of them call it "super" cycle. Crypto currencies get attention so much especially from institutional investors(bunch of boomers dont know about cycles of crypto market but have lots of money in a nutshell) who can change trends. I suggest not to stay on short positions for a long time until the bull season ends. Don't be greedy and deal with %30 to close short positions. If price manage to hold over support trend line (Blue Line) ADA may go up to new ATH.
Comment:
ADA managed to hold over trend support line so bearish case invalid.
