Hello friends!
Yesterday prices continued to consolidate down the 1.35, very close to the forecast of 1.34. Prices then rebounded and attempted, unsuccessfully, to regain 1.50.
ADA is attempting to regain 1.50 as support early in the day, and may reach 1.52, but upward pressure is weakening. As the day progresses, prices could again fall back towards 1.43
The next two days may not see prices go lower than 1.35. Next week will either see prices fall towards 1.09 or the start of a reversal, though the former is more likely.
Intraday
Summary: Continued rally to 1.52 possible, then consolidation to 1.43 and potentially back to 1.35
6H - Green EMA is only at level 60 despite white EMA being very high at 108. This suggests that upward momentum is not enough to support higher prices.
Indeed, this may be one of the situations where the conditions were met (EMA higher than 50 at close and RSI above 20) for prices to rise to the yellow basis (1.52), but prices could not reach the basis (topping at 1.48). This is a good reminder that the yellow basis is a region, rather than a specific price. In this case prices may try stay around 1.45 (lower white B-band)
12H - Green EMA has crossed above RSI and LSMA while white EMA is just above level 50. This is a precarious setup as someone may interpret this as meaning that upward momentum is in control and that green EMA could cross level 50 later in the day, allowing prices to rise to the region of the yellow basis (1.60).
However, looking at the 12H from June 9, there is a similar pattern where green could not reach level 50. In fact, because green was lower than white, lower lows were in store. Furthermore, RSI is below level 20, and would need to rise above level along with green closing above level 50 for prices to return to the yellow basis.
Most likely, prices will remain under the white lower B-band (1.49) and could once again turn to consolidation later in the day. If that occurs, expect prices to fall below the lower aqua B-band (1.43) and potentially fall back to 1.35 region.
1D - While green and white EMA have risen since yesterday, RSI and LSMA continue to descend. Price should remain between the lower white and aqua B-bands (1.42 to 1.49), but may start moving into the range between the lower aqua and orange B-bands (1.30 to 1.42)
Next 2 Days
3D and 5D charts close in 48 hours. Yesterday's bottom of 1.35 may be as low as prices go in the next 2 days, with a tendancy to range between 1.41 and 1.48. If consolidation continues, then prices would be likely to move below 1.40 again. Prices must remain above 1.43 to slow a deeper fall to the 1.30 and below in the next few days.
Next 5-8 Days
6D - Despite yesterday's rebound, conditions are still met for prices in the 6D (5 days left) to continue to fall back to 1.35, however RSI and LSMA still remain high and there are many days left in the current candle.
9D - With 8 days left, green EMA continues to descend below level 50 along with white EMA. RSI and LSMA may prevent prices from reaching all the way to the yellow basis (1.09), but the probability is still very high that in thet next week prices will fall to the region around the basis. A significant rally (e.g., above 1.70) would be needed to reverse the trend.
Good luck and good fortune!
Yesterday prices continued to consolidate down the 1.35, very close to the forecast of 1.34. Prices then rebounded and attempted, unsuccessfully, to regain 1.50.
ADA is attempting to regain 1.50 as support early in the day, and may reach 1.52, but upward pressure is weakening. As the day progresses, prices could again fall back towards 1.43
The next two days may not see prices go lower than 1.35. Next week will either see prices fall towards 1.09 or the start of a reversal, though the former is more likely.
Intraday
Summary: Continued rally to 1.52 possible, then consolidation to 1.43 and potentially back to 1.35
6H - Green EMA is only at level 60 despite white EMA being very high at 108. This suggests that upward momentum is not enough to support higher prices.
Indeed, this may be one of the situations where the conditions were met (EMA higher than 50 at close and RSI above 20) for prices to rise to the yellow basis (1.52), but prices could not reach the basis (topping at 1.48). This is a good reminder that the yellow basis is a region, rather than a specific price. In this case prices may try stay around 1.45 (lower white B-band)
12H - Green EMA has crossed above RSI and LSMA while white EMA is just above level 50. This is a precarious setup as someone may interpret this as meaning that upward momentum is in control and that green EMA could cross level 50 later in the day, allowing prices to rise to the region of the yellow basis (1.60).
However, looking at the 12H from June 9, there is a similar pattern where green could not reach level 50. In fact, because green was lower than white, lower lows were in store. Furthermore, RSI is below level 20, and would need to rise above level along with green closing above level 50 for prices to return to the yellow basis.
Most likely, prices will remain under the white lower B-band (1.49) and could once again turn to consolidation later in the day. If that occurs, expect prices to fall below the lower aqua B-band (1.43) and potentially fall back to 1.35 region.
1D - While green and white EMA have risen since yesterday, RSI and LSMA continue to descend. Price should remain between the lower white and aqua B-bands (1.42 to 1.49), but may start moving into the range between the lower aqua and orange B-bands (1.30 to 1.42)
Next 2 Days
3D and 5D charts close in 48 hours. Yesterday's bottom of 1.35 may be as low as prices go in the next 2 days, with a tendancy to range between 1.41 and 1.48. If consolidation continues, then prices would be likely to move below 1.40 again. Prices must remain above 1.43 to slow a deeper fall to the 1.30 and below in the next few days.
Next 5-8 Days
6D - Despite yesterday's rebound, conditions are still met for prices in the 6D (5 days left) to continue to fall back to 1.35, however RSI and LSMA still remain high and there are many days left in the current candle.
9D - With 8 days left, green EMA continues to descend below level 50 along with white EMA. RSI and LSMA may prevent prices from reaching all the way to the yellow basis (1.09), but the probability is still very high that in thet next week prices will fall to the region around the basis. A significant rally (e.g., above 1.70) would be needed to reverse the trend.
Good luck and good fortune!