ADA/USDT :::
The price is in a descending channel and is on the way to break the middle line of the orange channel .
If the middle line is broken for the price, it will play the role of support, which will lead the price towards the ceiling of the channel .
<<< Good luck >>>
Market just broke a structure creating first higher high and going back down, we are expecting for it to retrace to the demand zone, and bounce to POC zone.
Entry: 0.51 (Demand zone)
Invalidation: 0.3898 (Below the last impulse down)
Target: 0.781 (POC zone)
ADA just finished 1 to 5 Elliot Wave Theory downwards, broke out of a downtrend and started an ABC correction, we are forecasting that we already finished B wave of a correction because it is 61.8% zone of a fib retracement so we expect price to reverse and start to rise until it hits liquidity zone in $2.37 zone.
Cardano blockchain is in the actions of...
". There is a possibility of temporary retracement to the suggested support line (1.610).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. ADAUSD is in an uptrend, and the continuation of the uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is...
". There is a possibility of temporary retracement to the suggested support line (1.610).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. ADAUSD is in an uptrend, and the continuation of the uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is...
H4
The price is trading below the Ichimoku cloud, indicating a possible end to the upward movement of correlation. RSI has reached oversold levels. Also, between the price and the RSI, convergence was formed. Fibonacci level of 61.8% was tested.
Conclusion:
We recommend buying at the current price, as many indicators indicate completion of correction on...
