ADA/USD - 1.45 Test today, 1.50 tomorrow? 1.60 by mid-week
Hello friends!
Yesterday's forecast was, "test of 1.40 likely, possible break above towards 1.47." ADA indeed did break above 1.40 and was able to rally to 1.44 before running out of steam. ADA established good support at 1.40, which was tested early in today's trading with bears bringing prices down to 1.38 but unable to break 1.40 support.
After the 1.40 test early today, the remainder of the day should see prices continue to rise with a good chance of a test of 1.45
The next few days continue to look bullish with a test of 1.50 likely and chance to break above towards 1.60. This may take until July 6-7 rather than 4-5 due to weekend and US holidays, but indications continue to strengthen on the bullish trend, which is likely to last for at least another 5-8 days.
Note that the steady rise may encounter some resistance and fall backs during the next week, but that a spike could also occur, such as when BTC breaks above key levels.
Intraday
Summary: Expect a test of 1.45 with chance to break above.
12H - First half of the day is bullish. White EMA is high with RSI and LSMA continuing to rise, with B-bands expanding. Green EMA flattened but has returned to a rise. Prices should starting rising above the upper aqua B-band (1.425) towards the upper orange (1.48). A test of 1.45 is possible in the first half of the day, but more likely in the second half. Upward pressure is high enough that there is a strong chance of prices breaking above 1.45.
1D - The daily chart continues to look quite bullish. Green EMA has now risen above white EMA, usually leading to higher highs. RSI and LSMA continue their sustained rise. LSMA is close to level 50. It is likely that LSMA will cross above level 50 in tomorrow's candle, which should expand B-band allowing for a rally to 1.50 tomorrow. Today prices should rise to the area around the upper white B-band (1.46), supporting the likelihood of a test of 1.45 with possible break ahead. Daily pattern should last another 5 days. No pressure dots are showing, indicating that ADA is not in a period of overpressure. This usually means that there is plenty of time for levels to keep rising before a possible retracement.
Next 4 Days
Summary: ADA is likely to continue rising through next week, with a good chance of testing 1.60, and 1.80 possible the week after.
2D - (new) - White EMA is falling very slowly, suggesting that upward momentum will continue for several days. Despite only slightly rising, green EMA is still above level 50. RSI is close to crossing above level 50 and LSMA has started to rise. Prices are likely to go to the yellow basis (1.47). The flatness of the green EMA could mean that the rise will be slower than expected, but does not change the price target.
4D - (new) - The new 4D is quite bullish. RSI and LSMA have now turned up for the first time since early May, just before a new ATH. White and green EMAs are above level 50 suggesting that prices will move towards the yellow basis (1.50). Prices could rise higher, however. It may take 1-2 more candles before RSI and LSMA could reach level 50. If green and white EMA continue rising in that time, then the upper white B-band becomes a likely price target at 1.79. Meanwhile, a break above 1.50 could start prices rising towards 1.60 by mid-week.
Good luck and good fortune!
Yesterday's forecast was, "test of 1.40 likely, possible break above towards 1.47." ADA indeed did break above 1.40 and was able to rally to 1.44 before running out of steam. ADA established good support at 1.40, which was tested early in today's trading with bears bringing prices down to 1.38 but unable to break 1.40 support.
After the 1.40 test early today, the remainder of the day should see prices continue to rise with a good chance of a test of 1.45
The next few days continue to look bullish with a test of 1.50 likely and chance to break above towards 1.60. This may take until July 6-7 rather than 4-5 due to weekend and US holidays, but indications continue to strengthen on the bullish trend, which is likely to last for at least another 5-8 days.
Note that the steady rise may encounter some resistance and fall backs during the next week, but that a spike could also occur, such as when BTC breaks above key levels.
Intraday
Summary: Expect a test of 1.45 with chance to break above.
12H - First half of the day is bullish. White EMA is high with RSI and LSMA continuing to rise, with B-bands expanding. Green EMA flattened but has returned to a rise. Prices should starting rising above the upper aqua B-band (1.425) towards the upper orange (1.48). A test of 1.45 is possible in the first half of the day, but more likely in the second half. Upward pressure is high enough that there is a strong chance of prices breaking above 1.45.
1D - The daily chart continues to look quite bullish. Green EMA has now risen above white EMA, usually leading to higher highs. RSI and LSMA continue their sustained rise. LSMA is close to level 50. It is likely that LSMA will cross above level 50 in tomorrow's candle, which should expand B-band allowing for a rally to 1.50 tomorrow. Today prices should rise to the area around the upper white B-band (1.46), supporting the likelihood of a test of 1.45 with possible break ahead. Daily pattern should last another 5 days. No pressure dots are showing, indicating that ADA is not in a period of overpressure. This usually means that there is plenty of time for levels to keep rising before a possible retracement.
Next 4 Days
Summary: ADA is likely to continue rising through next week, with a good chance of testing 1.60, and 1.80 possible the week after.
2D - (new) - White EMA is falling very slowly, suggesting that upward momentum will continue for several days. Despite only slightly rising, green EMA is still above level 50. RSI is close to crossing above level 50 and LSMA has started to rise. Prices are likely to go to the yellow basis (1.47). The flatness of the green EMA could mean that the rise will be slower than expected, but does not change the price target.
4D - (new) - The new 4D is quite bullish. RSI and LSMA have now turned up for the first time since early May, just before a new ATH. White and green EMAs are above level 50 suggesting that prices will move towards the yellow basis (1.50). Prices could rise higher, however. It may take 1-2 more candles before RSI and LSMA could reach level 50. If green and white EMA continue rising in that time, then the upper white B-band becomes a likely price target at 1.79. Meanwhile, a break above 1.50 could start prices rising towards 1.60 by mid-week.
Good luck and good fortune!
