Hello,
As you can see we are in a down trend in the shape of a price channel. ADA is beginning to descend from the upper part of the channel towards the lower portion. The MACD crossover has begun and if history repeats itself then ADA is going to form a new low very soon. As you can see in the chart that any time ADA has made a cross over on the MACD within this downtrend then ADA will drop significantly.
Unless ADA breaks free of this channel and closes on the daily above the channels trend line, then it is guaranteed that ADA is going down.
This is my viewpoint and my opinion. I am not giving advice but only sharing what I see. Do not enter a trade on my TA but do your own homework.
Cryptocurrency is volatile and very risky. Never invest what you can't afford to lose and always educate yourself and continue to do so when making any kind of investment.
If you find this information helpful, then please hit the like button. Your support is appreciated. Thank you!
Cheers!
As you can see we are in a down trend in the shape of a price channel. ADA is beginning to descend from the upper part of the channel towards the lower portion. The MACD crossover has begun and if history repeats itself then ADA is going to form a new low very soon. As you can see in the chart that any time ADA has made a cross over on the MACD within this downtrend then ADA will drop significantly.
Unless ADA breaks free of this channel and closes on the daily above the channels trend line, then it is guaranteed that ADA is going down.
This is my viewpoint and my opinion. I am not giving advice but only sharing what I see. Do not enter a trade on my TA but do your own homework.
Cryptocurrency is volatile and very risky. Never invest what you can't afford to lose and always educate yourself and continue to do so when making any kind of investment.
If you find this information helpful, then please hit the like button. Your support is appreciated. Thank you!
Cheers!