Hi All,
Ada\Cardano has been doing well this year, better than BTC in terms of returns.
Its one of those projects that has lots of potential.
As shown on this chart, ADA is being supported by 2 key levels.
a) Macro trend line\fib level and
b) the 0.382 retracement fib. level.
This is why we had a good bounce and with a nice short opportunity.
Note: the 10/21 ema ribbon (blue) on the daily and underneath, the 50 ema (black line)
How high will ADA go on this impulse, that will be with the follow up postings.
I will need to update this post after looking at the the 15min chart and see what formation is likely to take.
Thoughts:
======================================================================================
Since BTC is bullish, not enough I believe to break the top trend line this round, looking at the 8100 to 8350 range to do it, which still gives us a lower high and keeps the trend in place.
I see ADA with the same lense\perspective, ADA will reciprocate the trend movements of BTC but with better magnitude up and down.
I have ADA on the DAILY still with downwards momentum as per the chart below, highlighted by the indicator on the right of it.
If ADA was to pullback to the BOOST fib combination, I would think this combination will be likely the lower high level to break the top.
We can however also have the 0.5 fib retracement.
The 50 ema looks like it will move to the 0.618 retracement line, the BOOST zone.
The trend line at the same time, has alignment potentially with the 21 daily ema. which can act as the major entrance point as well.
I can't make a forecast until I see reversal signs on the macd and other indicators to say which fib level it is (on the daily).
Please give me a like or tick for my posting.
Thanks,
S.Sari.
DAILY close up view.
DAILY chart and its indicator.
Note on the daily how the colored boxes represent the cross over of the indicators and the peak reversals of ADA on price action.
They are good enough signals for a reversal.
Overall overview of ADA and my specific lines, showing its a downward wedge that's moving up to for a breakout.
Ada\Cardano has been doing well this year, better than BTC in terms of returns.
Its one of those projects that has lots of potential.
As shown on this chart, ADA is being supported by 2 key levels.
a) Macro trend line\fib level and
b) the 0.382 retracement fib. level.
This is why we had a good bounce and with a nice short opportunity.
Note: the 10/21 ema ribbon (blue) on the daily and underneath, the 50 ema (black line)
How high will ADA go on this impulse, that will be with the follow up postings.
I will need to update this post after looking at the the 15min chart and see what formation is likely to take.
Thoughts:
======================================================================================
Since BTC is bullish, not enough I believe to break the top trend line this round, looking at the 8100 to 8350 range to do it, which still gives us a lower high and keeps the trend in place.
I see ADA with the same lense\perspective, ADA will reciprocate the trend movements of BTC but with better magnitude up and down.
I have ADA on the DAILY still with downwards momentum as per the chart below, highlighted by the indicator on the right of it.
If ADA was to pullback to the BOOST fib combination, I would think this combination will be likely the lower high level to break the top.
We can however also have the 0.5 fib retracement.
The 50 ema looks like it will move to the 0.618 retracement line, the BOOST zone.
The trend line at the same time, has alignment potentially with the 21 daily ema. which can act as the major entrance point as well.
I can't make a forecast until I see reversal signs on the macd and other indicators to say which fib level it is (on the daily).
Please give me a like or tick for my posting.
Thanks,
S.Sari.
DAILY close up view.
DAILY chart and its indicator.
Note on the daily how the colored boxes represent the cross over of the indicators and the peak reversals of ADA on price action.
They are good enough signals for a reversal.
Overall overview of ADA and my specific lines, showing its a downward wedge that's moving up to for a breakout.
Comment:
15 min. chart. Maybe ?
Trade closed: target reached:
target met. Have a followup post on this for the next trend and target at the macro level.
Discord: TradeToProspa
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
