ADA/USD Apr 21 bottom in? and $3 ADA in May update
Hello friends! As forecast, yesterday ADA/USD stayed under the 1.34 fib dropping to a low of 1.12 but rallying at the end of the day to the upper 1.20's.
Today, I'm making a quick video to take a look today's intraday forecast, if the bottom is in, and an update on ADA @ $3.00
Bottom line - ADA/USD appears to be at its bottom for this correction but prices will persist for a few more days. Trend shows that $2+ coming, but recent correction has pushed that possibility out to second week of May between May 7-12.
Intraday - Higher with a possible test of the 1.34 fib, though may not have enough momentum to go breakout above. General range of 1.20 to 1.30 regions
2-4 days - Sideways under the 1.34 fib. Prices could range down to 1.15 area, but mainly around 1.20 to 1.25.
End of week/End of month - 1W and 2W candles have 5 days left, both showing green EMA and red RSI touching, but in opposite directions. This, with the white EMA around 50 suggests sideways action the remainder of the week with a possible dip as low as 1.11, but mainly in the 1.20's.
The 9D (7 days left) and new 11 day charts suggest next leg up not likely until second week of May 7-12, unless there is a broader rally or positive news.
Good luck and good fortune!
Today, I'm making a quick video to take a look today's intraday forecast, if the bottom is in, and an update on ADA @ $3.00
Bottom line - ADA/USD appears to be at its bottom for this correction but prices will persist for a few more days. Trend shows that $2+ coming, but recent correction has pushed that possibility out to second week of May between May 7-12.
Intraday - Higher with a possible test of the 1.34 fib, though may not have enough momentum to go breakout above. General range of 1.20 to 1.30 regions
2-4 days - Sideways under the 1.34 fib. Prices could range down to 1.15 area, but mainly around 1.20 to 1.25.
End of week/End of month - 1W and 2W candles have 5 days left, both showing green EMA and red RSI touching, but in opposite directions. This, with the white EMA around 50 suggests sideways action the remainder of the week with a possible dip as low as 1.11, but mainly in the 1.20's.
The 9D (7 days left) and new 11 day charts suggest next leg up not likely until second week of May 7-12, unless there is a broader rally or positive news.
Good luck and good fortune!
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Related publications
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.