ADA Price Analysis
There are potential tweezer bottoms forming on the candles which could signal a small reversal of trend. This price action is further reinforced by the falling wedge pattern being formed.
However, ADA has some strong resistance to overcome at the top of the wedge both in the form of psychological resistance as well as the .5 fibonacci level.
There's a small bullish twist on the Kumo followed up by another twist back into a bearish formation.
Stochastic RSI has bottomed out and the signal line is attempting another bull cross.
RVI shows us we are gaining momentum. Although the past resistance on the RVI aligns well with the resistance at the top of the wedge.
Small bullish curl on the DI -
We are still in a strong downtrend.
It will be interesting to see how this price action plays out.
However, ADA has some strong resistance to overcome at the top of the wedge both in the form of psychological resistance as well as the .5 fibonacci level.
There's a small bullish twist on the Kumo followed up by another twist back into a bearish formation.
Stochastic RSI has bottomed out and the signal line is attempting another bull cross.
RVI shows us we are gaining momentum. Although the past resistance on the RVI aligns well with the resistance at the top of the wedge.
Small bullish curl on the DI -
We are still in a strong downtrend.
It will be interesting to see how this price action plays out.
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