Ma200
Hello!
After the positive breakout of the descending channel, ADA is on a consolidation phases. I was expecting a little more action to the upside to faster the process but the bulls are taking their time. Indeed they are waiting the cross of the trend over the ma 200 on the daily before starting a new bull phase. As we can see we need to be patient. A small move to the are of 520 could happen and makes the process a little less tedious but the pattern is similar of what happened during the period of February / March 2019 (+ 70% from the cross to the top) and January / February 2020 (+40% from the cross to the top).
After the positive breakout of the descending channel, ADA is on a consolidation phases. I was expecting a little more action to the upside to faster the process but the bulls are taking their time. Indeed they are waiting the cross of the trend over the ma 200 on the daily before starting a new bull phase. As we can see we need to be patient. A small move to the are of 520 could happen and makes the process a little less tedious but the pattern is similar of what happened during the period of February / March 2019 (+ 70% from the cross to the top) and January / February 2020 (+40% from the cross to the top).
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.