ADA still bullish
ADA is still trading in the same ascending channel since the beginning of the year with no daily closes out of this zone.
We have yet to even enter the equilibrium zone of the Ichimoku cloud and are still floating nicely in the bullish zone. The conversion line and base line right on top of each other with many of the recent daily candles closing below them. But this was the same situation before the last impulse to the ATH, where we fell below the conversion and base lines and hit the bottom of the channel. If the same pattern repeats we could be on the way to test the top of the channel again.
We have a few wicks down near the EMA200, and no closes below the EMA100. And since the last little sell off we have 3 daily closes above the EMA50.
The new monthly pivot point for June is sitting at 1.70 with the first resistance at 2.50, which corresponds to the top of this trading channel. My hope is to test 2.50 by the end of the month (but that could just be the hopium talking).
I guess all eyes are on BTC now. I am buying ADA to add to my hodl/staking bag whenever we dip below 1.50.
We have yet to even enter the equilibrium zone of the Ichimoku cloud and are still floating nicely in the bullish zone. The conversion line and base line right on top of each other with many of the recent daily candles closing below them. But this was the same situation before the last impulse to the ATH, where we fell below the conversion and base lines and hit the bottom of the channel. If the same pattern repeats we could be on the way to test the top of the channel again.
We have a few wicks down near the EMA200, and no closes below the EMA100. And since the last little sell off we have 3 daily closes above the EMA50.
The new monthly pivot point for June is sitting at 1.70 with the first resistance at 2.50, which corresponds to the top of this trading channel. My hope is to test 2.50 by the end of the month (but that could just be the hopium talking).
I guess all eyes are on BTC now. I am buying ADA to add to my hodl/staking bag whenever we dip below 1.50.
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