Quick ADA 4hr Chart Update
ADA 4hr Update:
ADA is still safely above its 50EMA for this 4hr timeframe.
ADA is above its Volume Profile Fixed Range (VPFR) Point of Control (POC) for this charts fixed range i have selected.
ADA is above its Volume Profile Visible Range (VPVR) Point of Control (POC) for this charts visible range.
Note that the last 10x 4hr Volume Bars have been above its Volume 20 Moving Average.
ADA is above its Bollinger Bands Middle Band Basis 20 Period SMA. Note that we have had extreme expansion on the Upper and Lower Bands so a re-trace back would not be unexpected.
The Average Directional Index (ADX DI) is showing strong positive momentum with the +DI (Green Line) at 42.44 and the -DI (Red Line) at 5.99. The ADX is showing a strong trend with the ADX (Yellow Line) at 40.65 and above its 9 Period EMA (White Line) which is at 32.17. The +DI (Green Line) is showing that positive Momentum has dropped but note that the -DI (Red Line) is showing that Negative Momentum has also dropped.
The Relative Strength Index (RSI) is indicating strong upwards momentum and note that the RSI (Purple Line) is in the Overbought Zone. Being in the Overbought Zone does not mean that ADA will drop as the RSI (Purple Line) can range sideways within the Overbought Zone for a prolonged period of time. Note that the RSI (Purple Line) is above its 9 Period EMA (Yellow Line) indicating upwards momentum is strong at the moment.
A 4hr candle close above the Pitchfork Median Line and re-test of that level as support is crucial for continued upwards momentum. Note that ADA is also walking up the Upper Bollinger Band, we may see more upwards momentum but because of the extreme BB expansion a slight re-trace back should not be unexpected. If ADA does re-trace backwards, it could drop to its Pitchfork (A,B,C) Lower Green Support Line or lower to it's Bollinger Bands Middle Band Basis 20 Period SMA as potential support levels, but at the moment it looks like ADA might continue walking up the upper band or even consolidate sideways for a few hours bringing the Lower Bollinger Band upwards. As always, we also need to keep an eye or 2 what BTC is doing & may potentially do.
Apologies for the lack of post, it’s been a busy time. I hope this is helpful with your Trading and Hold-ing.
ADA is still safely above its 50EMA for this 4hr timeframe.
ADA is above its Volume Profile Fixed Range (VPFR) Point of Control (POC) for this charts fixed range i have selected.
ADA is above its Volume Profile Visible Range (VPVR) Point of Control (POC) for this charts visible range.
Note that the last 10x 4hr Volume Bars have been above its Volume 20 Moving Average.
ADA is above its Bollinger Bands Middle Band Basis 20 Period SMA. Note that we have had extreme expansion on the Upper and Lower Bands so a re-trace back would not be unexpected.
The Average Directional Index (ADX DI) is showing strong positive momentum with the +DI (Green Line) at 42.44 and the -DI (Red Line) at 5.99. The ADX is showing a strong trend with the ADX (Yellow Line) at 40.65 and above its 9 Period EMA (White Line) which is at 32.17. The +DI (Green Line) is showing that positive Momentum has dropped but note that the -DI (Red Line) is showing that Negative Momentum has also dropped.
The Relative Strength Index (RSI) is indicating strong upwards momentum and note that the RSI (Purple Line) is in the Overbought Zone. Being in the Overbought Zone does not mean that ADA will drop as the RSI (Purple Line) can range sideways within the Overbought Zone for a prolonged period of time. Note that the RSI (Purple Line) is above its 9 Period EMA (Yellow Line) indicating upwards momentum is strong at the moment.
A 4hr candle close above the Pitchfork Median Line and re-test of that level as support is crucial for continued upwards momentum. Note that ADA is also walking up the Upper Bollinger Band, we may see more upwards momentum but because of the extreme BB expansion a slight re-trace back should not be unexpected. If ADA does re-trace backwards, it could drop to its Pitchfork (A,B,C) Lower Green Support Line or lower to it's Bollinger Bands Middle Band Basis 20 Period SMA as potential support levels, but at the moment it looks like ADA might continue walking up the upper band or even consolidate sideways for a few hours bringing the Lower Bollinger Band upwards. As always, we also need to keep an eye or 2 what BTC is doing & may potentially do.
Apologies for the lack of post, it’s been a busy time. I hope this is helpful with your Trading and Hold-ing.
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