ADA/USD
At the moment of typing this, ADA is still below its longterm Pitchfork Median Line and has been below it since the 3rd March 2022.
ADA is also in a Descending Pitchfork Pattern (Black A,B,C). At the moment, ADA is still above its Descending pitchfork Median Line. At the moment, ADA has found some support from its Descending Upper Yellow Pitchfork Support Line.
At the moment ADA is back above its Least Squares Moving Average (LSMA) for this 1 day timeframe.
At the moment, ADA is also back above its Bollinger Bands Middle Band Basis 20 Period SMA. Not that we have yet to get expansion of the Upper and Lower Bands
Using the Ichimoku settings of 20,60,120,30, we can see that ADA is still in the Bearish Zone of the Ichimoku Cloud and ADA has not made an attempt to break back into the Equilibrium Zone since the 18th Jan 2022 when ADA failed to close a daily candle within the Cloud.
At the moment, ADA is above its Volume Profile Fixed Range Point of Control (VPFR POC) for the Fixed Range of 20x daily candles that i have selected.
At the moment, ADA is still below its Volume Profile Visible Range Point of Control (VPVR POC) for this charts Visible Range.
At the moment, Volume on this Binance Chart for ADA is still relatively low compared to what ADA was getting around May 2021.
Looking at the Average Directional index (ADX DI), Positive Momentum has dropped with the +DI (green Line) dropping to 22.56 and note that Negative Momentum has also dropped with the -DI (Red Line) dropping to 18.89. The Trend Strength is still weak with the ADX (Orange Line) at 18.57 and still below the 20 Threshold and also below its 9 Period EMS (Black Line) at 20.82.
Looking at the Moving Average Convergence Divergence (MACD), the MACD Line (Blue Line) is indicating momentum is upwards at the moment and it is above its Signal Line (Orange Line). Note that the MACD Line (Blue Line) is still in the Negative Zone under the 0.0 Base Line on this 1 day timeframe. Note that the MACD Line (Blue Line) has not been in the Positive Zone above the 0.0 Base Line since 20th Jan 2022 on this 1 day timeframe.
Here is a wider look at this ADA 1 day chart with its Longterm Pitchfork Pattern:
Looking at this ADA 1 day chart, i personally wouldn’t get excited until ADA gets back above its Longterm Pitchfork Median Line and also starts making a Hight Highs and Higher Lows above $1.63. So depending on what BTC does and what your Trading plan, Hodl-ing Plan or DCA plan is, it looks like there will still be good opportunities to acquire more ADA or your crypto of choice at a discount price. On another note, if ADA drops below its Descending pitchfork Median Line then we can expect to hit $0.622 but that is if support of the Descending Pitchfork Median Line fails as support. I would keep an eye on whether or not both the LSMA and Bollinger Bands Middle Band Basis 20 Period SMA continues to be Support or become Resistance on this 1 day timeframe.
I hope this post is helpful for your Trading or Hodl-ing.
ADA is also in a Descending Pitchfork Pattern (Black A,B,C). At the moment, ADA is still above its Descending pitchfork Median Line. At the moment, ADA has found some support from its Descending Upper Yellow Pitchfork Support Line.
At the moment ADA is back above its Least Squares Moving Average (LSMA) for this 1 day timeframe.
At the moment, ADA is also back above its Bollinger Bands Middle Band Basis 20 Period SMA. Not that we have yet to get expansion of the Upper and Lower Bands
Using the Ichimoku settings of 20,60,120,30, we can see that ADA is still in the Bearish Zone of the Ichimoku Cloud and ADA has not made an attempt to break back into the Equilibrium Zone since the 18th Jan 2022 when ADA failed to close a daily candle within the Cloud.
At the moment, ADA is above its Volume Profile Fixed Range Point of Control (VPFR POC) for the Fixed Range of 20x daily candles that i have selected.
At the moment, ADA is still below its Volume Profile Visible Range Point of Control (VPVR POC) for this charts Visible Range.
At the moment, Volume on this Binance Chart for ADA is still relatively low compared to what ADA was getting around May 2021.
Looking at the Average Directional index (ADX DI), Positive Momentum has dropped with the +DI (green Line) dropping to 22.56 and note that Negative Momentum has also dropped with the -DI (Red Line) dropping to 18.89. The Trend Strength is still weak with the ADX (Orange Line) at 18.57 and still below the 20 Threshold and also below its 9 Period EMS (Black Line) at 20.82.
Looking at the Moving Average Convergence Divergence (MACD), the MACD Line (Blue Line) is indicating momentum is upwards at the moment and it is above its Signal Line (Orange Line). Note that the MACD Line (Blue Line) is still in the Negative Zone under the 0.0 Base Line on this 1 day timeframe. Note that the MACD Line (Blue Line) has not been in the Positive Zone above the 0.0 Base Line since 20th Jan 2022 on this 1 day timeframe.
Here is a wider look at this ADA 1 day chart with its Longterm Pitchfork Pattern:
Looking at this ADA 1 day chart, i personally wouldn’t get excited until ADA gets back above its Longterm Pitchfork Median Line and also starts making a Hight Highs and Higher Lows above $1.63. So depending on what BTC does and what your Trading plan, Hodl-ing Plan or DCA plan is, it looks like there will still be good opportunities to acquire more ADA or your crypto of choice at a discount price. On another note, if ADA drops below its Descending pitchfork Median Line then we can expect to hit $0.622 but that is if support of the Descending Pitchfork Median Line fails as support. I would keep an eye on whether or not both the LSMA and Bollinger Bands Middle Band Basis 20 Period SMA continues to be Support or become Resistance on this 1 day timeframe.
I hope this post is helpful for your Trading or Hodl-ing.
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