ADA - 1 Day Chart update
ADA is below its Bollinger Bands Middle Band Basis 20 Period SMA for this 1d timeframe. Note that we have had expansion of the Upper and Lower Bollinger Bands and this volatility is on the downside.
At the moment, ADA is back above its Lower Bollinger Band but note that ADA is still getting downwards pressure at the moment.
ADA is below its Least Squares Moving Average (LSMA) for this 1d timeframe. A close below the LSMA is a potential sell signal for this indicator.
Using the Ichimoku settings of 20,60,120,30 but note I’m only using the cloud portion, you can see that ADA is underneath the Ichimoku Cloud and in the Bearish Zone on this 1d timeframe. It looks as though we will see the Leading Span A (Senkou Span A) cross back UNDER the Leading Span B (Senkou Span B) creating a Cloud (Kumo) Twist into a new red bearish cloud on this 1d timeframe.
ADA is below its Volume Profile Fixed Range Point of Control (VPFR POC) for the fixed range of 8 Daily candles that I’ve selected.
ADA is below its Volume Profile Visible Range Point of Control (VPVR POC) for this charts visible range.
Overall Volume is still very low on this Binance chart and today’s Volume Bar looks like it will close under its Volume 20 Period Moving Average (Orange Line).
The Average Directional Index (ADX DI) is indicating a weak trend strength with the ADX (Orange Line) at 17.54 below the 20 Base Line and below its 9 Period EMA (Black Line) which is at 18.65. Note that the ADX (Orange Line) has risen slightly. The +DI (Green Line) has dropped to 11.07 and is below its -DI (Red Line) which is at 18.45. Note that the -DI (Red Line) has dropped slightly but the +DI (Green Line) is still dropping, this tells me that Negative Momentum is stronger than Positive Momentum on this 1d timeframe.
The OnBalanceVolume (OBV) is showing momentum is downwards and notice that the OBV (Blue Line) is now underneath its 9 Period EMA (Orange Line) which is a big sign of strength for negative momentum for this 1d timeframe.
I would not get excited unless ADA crosses and CLOSES back ABOVE the Descending Trend-line (Descending Dashed Line) which would take it back into the Bullish Zone of the Ichimoku Cloud system. But ADA needs to cross & CLOSE back ABOVE its BB Middle Band Basis 20 Period SMA, LSMA, Leading Span B (Senkou Span B) and Leading Span A (Senkou Span A) resistance levels and also turn them into strong support.
If ADA crosses and closes BELOW the Ascending Trend-line (Ascending Dashed Line) then a further bigger drop is possible.
I hope this is helpful with your trading and hodl-ing.
Notes:
Bollinger Bands = Grey Bands on chart
LSMA = Black squiggly line on chart
VPFR POC = Short horizontal red line on chart
VPVR POC = Long horizontal red line on chart
Trend-lines = Ascending & Descending dashed black lines.
At the moment, ADA is back above its Lower Bollinger Band but note that ADA is still getting downwards pressure at the moment.
ADA is below its Least Squares Moving Average (LSMA) for this 1d timeframe. A close below the LSMA is a potential sell signal for this indicator.
Using the Ichimoku settings of 20,60,120,30 but note I’m only using the cloud portion, you can see that ADA is underneath the Ichimoku Cloud and in the Bearish Zone on this 1d timeframe. It looks as though we will see the Leading Span A (Senkou Span A) cross back UNDER the Leading Span B (Senkou Span B) creating a Cloud (Kumo) Twist into a new red bearish cloud on this 1d timeframe.
ADA is below its Volume Profile Fixed Range Point of Control (VPFR POC) for the fixed range of 8 Daily candles that I’ve selected.
ADA is below its Volume Profile Visible Range Point of Control (VPVR POC) for this charts visible range.
Overall Volume is still very low on this Binance chart and today’s Volume Bar looks like it will close under its Volume 20 Period Moving Average (Orange Line).
The Average Directional Index (ADX DI) is indicating a weak trend strength with the ADX (Orange Line) at 17.54 below the 20 Base Line and below its 9 Period EMA (Black Line) which is at 18.65. Note that the ADX (Orange Line) has risen slightly. The +DI (Green Line) has dropped to 11.07 and is below its -DI (Red Line) which is at 18.45. Note that the -DI (Red Line) has dropped slightly but the +DI (Green Line) is still dropping, this tells me that Negative Momentum is stronger than Positive Momentum on this 1d timeframe.
The OnBalanceVolume (OBV) is showing momentum is downwards and notice that the OBV (Blue Line) is now underneath its 9 Period EMA (Orange Line) which is a big sign of strength for negative momentum for this 1d timeframe.
I would not get excited unless ADA crosses and CLOSES back ABOVE the Descending Trend-line (Descending Dashed Line) which would take it back into the Bullish Zone of the Ichimoku Cloud system. But ADA needs to cross & CLOSE back ABOVE its BB Middle Band Basis 20 Period SMA, LSMA, Leading Span B (Senkou Span B) and Leading Span A (Senkou Span A) resistance levels and also turn them into strong support.
If ADA crosses and closes BELOW the Ascending Trend-line (Ascending Dashed Line) then a further bigger drop is possible.
I hope this is helpful with your trading and hodl-ing.
Notes:
Bollinger Bands = Grey Bands on chart
LSMA = Black squiggly line on chart
VPFR POC = Short horizontal red line on chart
VPVR POC = Long horizontal red line on chart
Trend-lines = Ascending & Descending dashed black lines.
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