Cardano / TetherUSShort
ADA/USD April 26 - 1.20 top, back to 1.11, 1.03 again soon
Hello friends! As forecast, yesterday prices mainly stayed around 1.11 but did test the 1.03 level. As expected, the 1.03 level held and prices bounced to 1.11. They have since climbed near the 1.18 level, a 15% increase from the bottom of 1.02 yesterday.
Although prices have rallied today to the 1.18 level and could try for 1.20+, the rally is very weak in momentum, and prices are likely to move back to the 1.11 region.
I will do a video to review the coming two weeks in detail, now that we have new charts. In the coming days expect downward momentum to prevail with prices testing 1.03 again, and possibly breaking down to the 0.89 region.
Intraday
Summary: Prices likely to range between 1.11 and 1.20 regions
6H - LSMA and RSI are flat under level 50, with RSI possibly coming up. The green EMA has been volatile with strong price action, but always below the white EMA and mostly below level 50. For the first 6 hours of the day, prices probably will no go higher than 1.20 (or even 1.18) and may return towards the 1.11 region.
12H - Green EMA has crossed over the rising RSI, but both are still well below level 50. The white EMA is above level 50, but barely at 56. This suggests that prices may not go higher than around 1.20 before falling back to 1.11, unless more upward momentum develops.
1D - Green RMA has not crossed above the RSI and RSI looks to be starting a trend up. The white EMA is above level 50 but not very high, showing upward momentum with very little energy. Expect prices to test the 50 MA at 1.204, and possibly reach the yellow basis line at 1.25. On the downside, prices may return to the 1.11 region.
Multiday (1-5 days)
Summary: Signs of weak upward momentum in the 24-48 hours, but likely test (or even breakthrough) of the 1.03 level in the next 5 days
2D and 4D - charts close at the end of this trading day. There are signs in the 2D of downward momentum slowing with the green and white EMA both rising, but the RSI and LSMA are still falling. The 4D is still showing downward momentum. This is similar to today's daily forecast, with the 1.20 region being possible, but also a return to the 1.11 region.
3D (2 days left) - Green EMA starting to rise, but other indicators declining. Prices look to stay around the lower white B-band (1.11) but can range between 1.20 and 1.05
5D (new) - In the new 5D the LSMA and RSI continue to fall. B-Bands are narrowing as LSMA nears level 50, and the green and white EMA's are well below 50. It is probable that prices will again return to the yellow basis line in this candle, which is at the 1.03 fib. If 1.03 or 1.00 do no hold, then prices could fall to the 0.89 or lower.
This week (next 7 days)
Summary: Increasing likelihood of a drop below 1.00 to 0.80 to 0.89 this week
1W - Green EMA in the new weekly chart is just above level 50, but could easily change as we are only 3 hours into the new week. With RSI below level 50, LSMA descending, and white EMA continuing to drop below level 50, there is a strong chance that 1.03 and 1.00 will be tested. If downward momentum were to prevail in the next few days, the green EMA could point down and be at/below level 50 by the end of the candle, which would make a drop to 0.89 probable late in the week, or next week.
8D - With 5 days left, the 8D is showing the green EMA touching level 50 and all indicators are falling. Unless upward momentum prevails in the next several days, this candle could close with the green EMA at/below level 50, making it likely that prices would descend to the yellow basis line (0.80 in the next candle)
Good luck and good fortune!
Although prices have rallied today to the 1.18 level and could try for 1.20+, the rally is very weak in momentum, and prices are likely to move back to the 1.11 region.
I will do a video to review the coming two weeks in detail, now that we have new charts. In the coming days expect downward momentum to prevail with prices testing 1.03 again, and possibly breaking down to the 0.89 region.
Intraday
Summary: Prices likely to range between 1.11 and 1.20 regions
6H - LSMA and RSI are flat under level 50, with RSI possibly coming up. The green EMA has been volatile with strong price action, but always below the white EMA and mostly below level 50. For the first 6 hours of the day, prices probably will no go higher than 1.20 (or even 1.18) and may return towards the 1.11 region.
12H - Green EMA has crossed over the rising RSI, but both are still well below level 50. The white EMA is above level 50, but barely at 56. This suggests that prices may not go higher than around 1.20 before falling back to 1.11, unless more upward momentum develops.
1D - Green RMA has not crossed above the RSI and RSI looks to be starting a trend up. The white EMA is above level 50 but not very high, showing upward momentum with very little energy. Expect prices to test the 50 MA at 1.204, and possibly reach the yellow basis line at 1.25. On the downside, prices may return to the 1.11 region.
Multiday (1-5 days)
Summary: Signs of weak upward momentum in the 24-48 hours, but likely test (or even breakthrough) of the 1.03 level in the next 5 days
2D and 4D - charts close at the end of this trading day. There are signs in the 2D of downward momentum slowing with the green and white EMA both rising, but the RSI and LSMA are still falling. The 4D is still showing downward momentum. This is similar to today's daily forecast, with the 1.20 region being possible, but also a return to the 1.11 region.
3D (2 days left) - Green EMA starting to rise, but other indicators declining. Prices look to stay around the lower white B-band (1.11) but can range between 1.20 and 1.05
5D (new) - In the new 5D the LSMA and RSI continue to fall. B-Bands are narrowing as LSMA nears level 50, and the green and white EMA's are well below 50. It is probable that prices will again return to the yellow basis line in this candle, which is at the 1.03 fib. If 1.03 or 1.00 do no hold, then prices could fall to the 0.89 or lower.
This week (next 7 days)
Summary: Increasing likelihood of a drop below 1.00 to 0.80 to 0.89 this week
1W - Green EMA in the new weekly chart is just above level 50, but could easily change as we are only 3 hours into the new week. With RSI below level 50, LSMA descending, and white EMA continuing to drop below level 50, there is a strong chance that 1.03 and 1.00 will be tested. If downward momentum were to prevail in the next few days, the green EMA could point down and be at/below level 50 by the end of the candle, which would make a drop to 0.89 probable late in the week, or next week.
8D - With 5 days left, the 8D is showing the green EMA touching level 50 and all indicators are falling. Unless upward momentum prevails in the next several days, this candle could close with the green EMA at/below level 50, making it likely that prices would descend to the yellow basis line (0.80 in the next candle)
Good luck and good fortune!
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.
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.