ADA/USD - Volatility again today, new 2-week chart
Hello friends!
Yesterday's forecast was for prices to fall below 1.30 and potentially down to 1.11. Prices did reach 1.11 and wicked down to 1.05. Prices rebounded but could not break above 1.35.
Despite the rebound, the daily indicators are still down, suggesting that the bottom is not in yet. Lows have been lower each day for the past 3 days, and today will likely continue that trend today, though there are signs that the bottom may establish in the next 24-48 hours.
I will not provide an update for the next several days as there are fewer than 24 hours left in many candles from the 2D to the 9D, however, there is a new 2-week, which I will discuss below.
Intraday/Daily
Summary: Under 1.30 with test of 1.00 possible and median around 1.20
3h - Day starts with upward momentum that could bring prices to 1.40 with green EMA above level 50, but momentum is weak with green well under white, near its peak. RSI and LSMA still very low, which will limit upward price action.
6H - LSMA and RSI are flat and low. Prices may not go much above the lower white B-band (1.36), and will have a bias towards lower prices.
12H - RSI, LSMA, and green EMA are close to converging at low levels. RSI and LSMA have not bottomed out, and are likely to descend the rest of the day. White EMA is rising suggesting that prices may not fall deeply (e.g., below 1.00). If prices cannot hold above 1.28 another drop to 1.11 or 1.00 would be likely.
1D - White EMA has come up slightly, but LSMA and RSI have continued to descend. Green EMA is flat, and is lower than white, suggesting that low prices will persist and are likely to stay under the lower aqua B-band, with prices likely to fall below 1.30 with a possible test of 1.00. Support between 0.97 and 1.03 appears strong, so prices may not drop below those levels, and if they do, only temporarily.
New 2 Week chart
Many candles are closing in 24 hours, but the new 2W candle gives us some new data on where prices may go between now and early June.
Green EMA is still below the red RSI, which indicates downward momentum. White EMA has has also fallen. Prices generally should bet between the upper white and upper aqua Bollinger bands (1.21-1.55)
If a reversal were to happen in the next week, upward momentum could start the second week of June, but it may take until the third or fourth week of June before the white EMA is near level 50 and green EMA is crossing the RSI. If this occurs, then prices could quickly rise to the upper orange B-band (2.11) or higher and continue to new ATH's thereafter.
Good luck and good fortune!
Yesterday's forecast was for prices to fall below 1.30 and potentially down to 1.11. Prices did reach 1.11 and wicked down to 1.05. Prices rebounded but could not break above 1.35.
Despite the rebound, the daily indicators are still down, suggesting that the bottom is not in yet. Lows have been lower each day for the past 3 days, and today will likely continue that trend today, though there are signs that the bottom may establish in the next 24-48 hours.
I will not provide an update for the next several days as there are fewer than 24 hours left in many candles from the 2D to the 9D, however, there is a new 2-week, which I will discuss below.
Intraday/Daily
Summary: Under 1.30 with test of 1.00 possible and median around 1.20
3h - Day starts with upward momentum that could bring prices to 1.40 with green EMA above level 50, but momentum is weak with green well under white, near its peak. RSI and LSMA still very low, which will limit upward price action.
6H - LSMA and RSI are flat and low. Prices may not go much above the lower white B-band (1.36), and will have a bias towards lower prices.
12H - RSI, LSMA, and green EMA are close to converging at low levels. RSI and LSMA have not bottomed out, and are likely to descend the rest of the day. White EMA is rising suggesting that prices may not fall deeply (e.g., below 1.00). If prices cannot hold above 1.28 another drop to 1.11 or 1.00 would be likely.
1D - White EMA has come up slightly, but LSMA and RSI have continued to descend. Green EMA is flat, and is lower than white, suggesting that low prices will persist and are likely to stay under the lower aqua B-band, with prices likely to fall below 1.30 with a possible test of 1.00. Support between 0.97 and 1.03 appears strong, so prices may not drop below those levels, and if they do, only temporarily.
New 2 Week chart
Many candles are closing in 24 hours, but the new 2W candle gives us some new data on where prices may go between now and early June.
Green EMA is still below the red RSI, which indicates downward momentum. White EMA has has also fallen. Prices generally should bet between the upper white and upper aqua Bollinger bands (1.21-1.55)
If a reversal were to happen in the next week, upward momentum could start the second week of June, but it may take until the third or fourth week of June before the white EMA is near level 50 and green EMA is crossing the RSI. If this occurs, then prices could quickly rise to the upper orange B-band (2.11) or higher and continue to new ATH's thereafter.
Good luck and good fortune!
Comment:
Mid-day Update: Assisted by the rising tide of BTC and the crypto market, ADA has rallied higher than expected to 1.55 so far. Shorter timeframes (12H and less) are indicating possible higher prices before the end of the day. It is possible that yesterday's 1.05 is the bottom we've been looking for. But, caution is advised. Prices are higher than normal given the daily indicators, and RSI and LSMA have not bottomed out. These two often lag the green and white EMAs, but keep in mind that prices could retrace, even if yesterday was the bottom.