ADA has had a super run. However, the 4H RSI and Daily RSI are in the over bought zone. Expecting a healthy ABC correction as indicated on the chart.
Accumulation zone could be anything between, however, this would really depend on how BTC, it's big bro is performing.
0.5Fib - .00002426 BTC
.618 fib - .00002266 BTC
Any bullish move from BTC above 8500 will...
At the current price levels, ADA can easily go upto $0.30.
When the market fell, ADA fell harder, expect it to bounce harder too.
However, if BTC falls significantly below $7500, this target becomes invalid.
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Historical resistance zone around $60.
Stoch RSI and bearish divergence on the RSI indicate that traders would be booking some profits at these levels.
A correction would be healthy at this stage for the bulls.
It has been rejected in this zone a few times. Can it break through this time around?
Currently in a no trade zone. I'd be watching closely how it plays out. Looking for a confirmation before entering a new position. The momentum looks strong but given the overall market, it could go either ways. Also, watch out how BTC plays out before making a decision.
Stoch RSI in the overbought zone, RSI pointing down on the 4 hourly chart and ETH has bounced off key resistance.
Buy back at lower levels.
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Do you agree / disagree?
Indecisive on whether the surge in BTC price is an upturn or a bull trap / artificial spike?
Keeping an eye on the volumes.
It will take considerable momentum for the bulls to turn the tide in their favour.
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