ADA/USD - Stuck in a tight range, bearish bias for now...
ADA left the descending channel and ended up in a very tight range between $2 and $2.2... see in blue.
Even if we break from this range, we're stuck in a much larger range set back in September from $1.9 to $2.4...
The indicators are a bit bearish in my view. Particularly the volume gives no indication of a rally anytime soon.
The OBV indicator (in pink) has been bearish with the pink line trending under the moving average in white.
Therefore, unless this changes, a re-test of support under $2 is more likely than a rally to $2.4. MACD also wants to cross on the negative, unless volume picks up.
Time will tell.
Like and follow if you liked this idea!1
Even if we break from this range, we're stuck in a much larger range set back in September from $1.9 to $2.4...
The indicators are a bit bearish in my view. Particularly the volume gives no indication of a rally anytime soon.
The OBV indicator (in pink) has been bearish with the pink line trending under the moving average in white.
Therefore, unless this changes, a re-test of support under $2 is more likely than a rally to $2.4. MACD also wants to cross on the negative, unless volume picks up.
Time will tell.
Like and follow if you liked this idea!1
📣 Find more Alpha by joining Your Crypto Community 🔰 LINKs BELOW 🔰
🔹 Over 5,000 members!
🔹 Real trades & wins explained
🔹 Trading ideas, crypto trends & alpha
Likes and follows appreciated! 🚀
🔹 Over 5,000 members!
🔹 Real trades & wins explained
🔹 Trading ideas, crypto trends & alpha
Likes and follows appreciated! 🚀
