ADA - Potential Buy SignalADA quick daily chart update:
ADA is safely above its 50EMA.
ADA is above its 61.8% Fibonacci Retracement Level. ADA needs to close this daily candle above this level.
ADA is above its Volume Point of Control (POC) for this visible range.
ADA is above its Bollinger Bands Middle Band Basis which is a 20 Period SMA.
Overall volume is still relatively low, but looks like we’ll end a 3rd day as green.
The Relative Strength Index (RSI) is indicating momentum is slightly upwards at about 57, with room to move up before ADA gets into the Overbought Zone of the RSI.
The Moving Average Convergence Divergence (MACD) is indicating that the MACD Line (Blue Line) has crossed back over its MACD Base Line at 0.0 which indicates that a 12 Period EMA on the Price Chart has crossed back over and above a 26 Period EMA on the Price chart. This is a very good thing 👍. The MACD Line looks like it may cross back over and above the Signal Line (Red Line) any day now, which, for most traders is a BUY signal. Notice that the Red histogram is getting smaller and has become less RED. Once the MACD Line crosses back over & above the Signal Line, we will then start to see green Histogram bars created.
If the MACD follows through, and the crossover is seen as a buy signal then we may see ADA attempt a potential move to a new All Time High over the next couple of days. Hopefully over the next few weeks, well see ADA attempt another attack at its Pitchfork Median Line 👍
I hope this is helpful with your Trading or Hodl-ing 👍🔥🚀🌍🌔🪐🛸👽
