If we look at the MACD on the Weekly Chart, we can see that ADA is finishing the bear market. Selling is slowing down and the MACD histogram is showing a reversal, which in this case is from bear to bull.
Have we hit the lows yet to buy in? No.. I suspect that Bitcoin will have more selling before reaching real support and sparking a new wave of buying. I suspect Bitcoin can reach $6,000 or 25% from the current price of $8000 easily taking ADA with it down. If ADA falls percentage wise the same as Bitcoin, that should put ADA at around $0.026
Have we hit the lows yet to buy in? No.. I suspect that Bitcoin will have more selling before reaching real support and sparking a new wave of buying. I suspect Bitcoin can reach $6,000 or 25% from the current price of $8000 easily taking ADA with it down. If ADA falls percentage wise the same as Bitcoin, that should put ADA at around $0.026
Note
Based on the weekly candles, it looks like ADA could see some selling soonOrder cancelled
Nov 13 - the candles did prove bearish and selling continued. It seems like the crypto market is in a huge bear market, maybe something we haven’t seen before.
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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.