ADA - 1d chart update
ADA is still in a Descending Triangle on the Daily Chart. Note that a descending triangle is a bearish pattern.
ADA needs to break back above the descending trend-line for renewed upwards momentum.
ADA is fighing to stay above its Bollinger Bands Middle Band Basis 20 Period SMA.
ADA is back above its Least Squares Moving Average (LSMA) for this 1d timeframe. A candle above the LSMA is considered a buy signal for traders who use this indicator.
Today’s Binance Volume is lower than yesterday’s and note that the Volume Bar is back under its Volume 20 Period Moving Average.
ADA is still below its Volume Profile Visible Range Point of Control (VPVR POC) for this charts visible range.
ADA is back above its Volume Profile Fixed Range Point of Control (VPFR POC) for the fixed range of 5 daily candles i have selected.
If we look at the On Balance Volume (OBV) the OBV (Blue Line) has increased but note that it is still under its 9 Period EMA (Orange Line). If you are waiting for confirmation of renewed upwards momentum then you need the OBV (Blue Line) to cross back above the 9 Period EMA (Orange Line) and stay above.
The Average Directional Index (ADX DI) is indicating the trend strength has dropped with the ADX (Orange Line) at 29.83 still below its 9 Period EMA (Black Line) which is at 32.67. The -DI (Red Line) has dropped to 17.92 and the +DI (Green Line) has dropped to 13.18. This tells me that both Negative Momentum and Positive Momentum has dropped and that the trend strength is still uncertain until the ADX (Orange Line) crosses back above the 9 Period EMA (Black Line) on the id timeframe.
The Moving Average Convergence Divergence (MACD) is indicating ADA still has a while to go on this 1d timeframe before we see the MACD Line (Blue Line) cross back over the Signal Line (Orange Line). Note that we do have lessoning Histograms but note that the MACD Line (Blue Line) is still under the 0.0 Base Line in the Negative Zone.
The Descending Trend-Line of the Descending Triangle is a major resistance level. I wouldn’t get excited until ADA crosses and CLOSESs a daily candle ABOVE this level, and unless the OBV (Blue Line) crosses back above the 9 Period EMA (Orange Line) on this 1d timeframe, then ADA will continue to create Lower Highs.
I hope this is helpful with your trading and hodl-ing.
Notes:
Descending Triangle = Dashed Lines on Chart
LSMA = Black Squiggly Line on Chart
Bollinger Bands = Grey Bands on Chart
VPVR POC = Long Horizontal Red Line on Chart
VPFR POC = Short Horizontal red Line on Chart
Volume = Red and Green Bars bottom of Chart.
Volume MA = Orange Line going through Volume Bars bottom of Chart.
ADA needs to break back above the descending trend-line for renewed upwards momentum.
ADA is fighing to stay above its Bollinger Bands Middle Band Basis 20 Period SMA.
ADA is back above its Least Squares Moving Average (LSMA) for this 1d timeframe. A candle above the LSMA is considered a buy signal for traders who use this indicator.
Today’s Binance Volume is lower than yesterday’s and note that the Volume Bar is back under its Volume 20 Period Moving Average.
ADA is still below its Volume Profile Visible Range Point of Control (VPVR POC) for this charts visible range.
ADA is back above its Volume Profile Fixed Range Point of Control (VPFR POC) for the fixed range of 5 daily candles i have selected.
If we look at the On Balance Volume (OBV) the OBV (Blue Line) has increased but note that it is still under its 9 Period EMA (Orange Line). If you are waiting for confirmation of renewed upwards momentum then you need the OBV (Blue Line) to cross back above the 9 Period EMA (Orange Line) and stay above.
The Average Directional Index (ADX DI) is indicating the trend strength has dropped with the ADX (Orange Line) at 29.83 still below its 9 Period EMA (Black Line) which is at 32.67. The -DI (Red Line) has dropped to 17.92 and the +DI (Green Line) has dropped to 13.18. This tells me that both Negative Momentum and Positive Momentum has dropped and that the trend strength is still uncertain until the ADX (Orange Line) crosses back above the 9 Period EMA (Black Line) on the id timeframe.
The Moving Average Convergence Divergence (MACD) is indicating ADA still has a while to go on this 1d timeframe before we see the MACD Line (Blue Line) cross back over the Signal Line (Orange Line). Note that we do have lessoning Histograms but note that the MACD Line (Blue Line) is still under the 0.0 Base Line in the Negative Zone.
The Descending Trend-Line of the Descending Triangle is a major resistance level. I wouldn’t get excited until ADA crosses and CLOSESs a daily candle ABOVE this level, and unless the OBV (Blue Line) crosses back above the 9 Period EMA (Orange Line) on this 1d timeframe, then ADA will continue to create Lower Highs.
I hope this is helpful with your trading and hodl-ing.
Notes:
Descending Triangle = Dashed Lines on Chart
LSMA = Black Squiggly Line on Chart
Bollinger Bands = Grey Bands on Chart
VPVR POC = Long Horizontal Red Line on Chart
VPFR POC = Short Horizontal red Line on Chart
Volume = Red and Green Bars bottom of Chart.
Volume MA = Orange Line going through Volume Bars bottom of Chart.
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.