This last week's fever seems to have quickly faded. After a weak bounce off the 1.44 fib, ADA has come as low at 1.18 and settled around 1.25 on decreasing volume.
The 1.25 range looks increasingly weak with just enough upward momentum for sideways price action at the moment.
The 1 day chart is trending to have the green EMA indicator close below level 50, as is the white EMA. If this continues and the current daily candle closes below these levels, then it is highly probable that prices will fall to the region around the 20 interval MA basis (yellow dot in 1D chart), which is currently just above 1.17.
Beyond in the 2D to 4D the picture is neutral with a bias to the upside at the moment. Once we look at the 5D and 1W (which closes tomorrow), downward momentum is still in control at least until March 27, and possibly longer.
Good luck!
The 1.25 range looks increasingly weak with just enough upward momentum for sideways price action at the moment.
The 1 day chart is trending to have the green EMA indicator close below level 50, as is the white EMA. If this continues and the current daily candle closes below these levels, then it is highly probable that prices will fall to the region around the 20 interval MA basis (yellow dot in 1D chart), which is currently just above 1.17.
Beyond in the 2D to 4D the picture is neutral with a bias to the upside at the moment. Once we look at the 5D and 1W (which closes tomorrow), downward momentum is still in control at least until March 27, and possibly longer.
Good luck!
Comment:
Quick update: We have hit the 1.17 area as forecast. Looking at the new 12H chart, downward momentum is continuing. For now, it looks unlikely that we would go as low as 1.05, but the 1.11 fib is a good possibility. With many candles closing in 12 hours, we will have to wait until then to get an idea of what this next week is looking like.