ADA/USD - Attempt to Hold 1.45 today 1.58 this week, 2.00 coming

BINANCE:ADAUSDT   Cardano / TetherUS
Hello friends!

Yesterday was an exciting day. As forecast, ADA tested 1.45 several times before breaking above to reach just under 1.50 at 1.4955. The day closed above 1.45 at 1.46.

Today support at 1.45 could now hold with a minor selloff down to 1.41. This is a healthy action what will keep the current bull trend from overheating, allowing the rally to continue longer and higher. A test of 1. 40 is possible today, but more likely is a rally back to 1.45, or above.

This week continues to look bullish with a strong chance of testing 1.58. Strong resistance could challenge prices around that zone, but a break above is increasingly likely by the end of the week.

Indicators are suggesting by mid-month that ADA may have a shot at 2.00 again if upward momentum continues this week.

Summary: Test of 1. 40 possible, but expect a rebound to 1.45 with chance to break above again

3H - In the second candle of the day, the green EMA is below level 50 while the RSI is under level 80. LSMA and RSI are falling with the B-bands narrowing. However, prices have already fallen to the yellow basis. Scalping timeframes (e.g., 45m and below) indicate that a bottom has formed and prices upward momentum is in control. Thus, prices may not fall lower than 1.41 in the 3H and could start trending up in later candles.

6H - First 6 hour candle of the day shows green EMA below RSI . White EMA is only slightly below level 50. In the second 6H candle of the day, the indicators are likely to show green EMA close to level 50 or below, but this is unlikely to result in prices falling to the yellow basis around 1.38. Although a proper test fo 1. 40 is possible, there is strong support at this level. Expect indicators to bounce and prices to rise again towards 1.45.

12H - First half of the day shows green EMA below LSMA and RSI , which would indicate downward momentum taking control. However, RSI continues to rise and all indicators are well above level 50. A test of 1. 40 is possible, but a reversal to the upside is more likely in the second half. Another test of 1.45 is quite possible in that case.

1D - The daily chart continues to look very positive. The early day dip has caused the white and green EMAs to fall, but both remain above level 80. RSI continues to rise at a slower pace. This is giving the LSMA more time to rise above level 50. When that happens the B-bands may be further expanded by the time the prices again rally up, leading to higher prices. Overall, green above white EMA and the rising RSI and LSMA indicate that this bull trend remains strong and likely to continue for several more days or longer. Today, expect 1. 40 to hold and prices to again test 1.45 and potential to again close above around 1.47

This Week

The 2D to 5D candles are bullsih across the board. White and green EMA are higher than level 50 in all timeframes. In all but the 5D, the RSI and LSMA are rising. Prices should again test 1.50 in the next 2-3 days, with a test of 1.58 by mid-week likely. Expect strong resistance around the 1.58 zone, which may require multiple attempts to break above and establish support.

Mid-Month Breakout to 1.80 or 2.00

With LSMA rising in all of the near-term timeframes, there is pattern that it could cross above level 50 around July 12-14. Bollinger bands could expand before then, or may take another candle or two after to expand, but if/when they do, then prices will be able to leg up quickly. A minimum, this would be 1.75-1.80 (upper aqua in 2D, upper white in 3D), with the potential to rally higher.

If upward momentum continues this week, mid-month could see a test of 2.00.

Good luck and good fortune!

P.S. Note that my daily updates will be paused after 7/7 for up to three weeks while I am travelling.