X Force Global Analysis:
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Parabolic moves are extremely common among cryptocurrencies, as there are no market brakes like the stock market. In this analysis, we analyze ADA's insane parabolic move through the parabolic curve model, and assess its probable next moves.
ADA/M20 Has been doing very well the last week and might very well continue, but some signs point to a short term retraction.
On the 4H Chart it seems to have formed a small double top and the Tenkan ( yellow line ) broke the Kijun ( Dark Bleu line ) down which points to a short term bearish movement ( right red circle ).
The lagging Span ( purple line ) also...
On a weekly timeframe.
Divergence has stopped the downtrend.
Cheap EOS for BTC has been accumulating for almost one year.
Exit from the side movement will give a decent growth.
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First of all, congratulations to all who followed my ADABTC call ! 10%+ gains a day keeps the doctor away!
After letting the dust settle, I will only be looking for SHORT re-entries on ADABTC, will be looking for continuation patterns aswell as weak buyer recovery for confirmation in order to make a final decision on the re-entry. IDEALLY we would be looking at a...
ADA is stronger than bitcoin.
Bitcoin's weakness can play into the ADA's hand, which will break through the resistance.
The trend angle can be seen on the blue support lines. There should still be the ending points.
Whether it is through a pullback or immediately, it is like the market will give.
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I was dumbfounded to see that I hadn't done many publications on cardano (not since last december) and given that it's one of my favorite alts with a solid roadmap, great team of devs & a genuine whitepaper alongside KYC transparency & Charles' vision for what is essentially XRP on steroids...
Personally, I read the whitepapers, roadmaps, research devs & budgets,...
ADA broke the descending channel to the upside but with not enough strong momentum If we see a minor pullback.
The potential good buy zone is at 460 sats area and targets up to 510 - 570 sats levels.
Applying a tight stop-loss below 445 sats level.
ADA has dropped over 25% from the top 690 sats area. The price has now reached the average zone and gold Fib 0.618.
Current price levels coincide with the previous resistance zone and have the potential to flip this into new support if ADA can break this descending trend-line resistance.
I need to see ADA hold this current price for the next 4-7 days to...
Bears are starting to show some weakness as the price manages to keep the same Low from the previous support area.
We can also see bullish early signs on the RSI giving us extra confirmation of bear exhaustion.
I'm expecting the ADA to challenge the downward trend-line resistance again and potentially break it for the 3rd attempt.
Target to the upside is...
ADA has the potential to change the market trend upside again as the price has temporarily found support at 0.618 Fib level.
The price is consolidating at key support for 10 days already. The fact that bears are unable to bring down ADA further,
this is an early sign of weakness for the bears in the mid-term. If ADA can still keep the price at this...