Ada/usdt has reached the first target from double top
There is on more target to the downside which I highlighted as a reversal zone in blue
On the upside, first target at 0.23, next one would be back to the monthly pivot/fib 0.618
There is currently a lot of convergence of support/ resistance, TL, channels, fib and pivot on ADA, which makes it an interesting watch
There is a divergence on H4 between MACD and RSI,
RSI double bottom, making a LL equivalent to the bottom of march
While MACD has a bullish divergence
There is on more target to the downside which I highlighted as a reversal zone in blue
On the upside, first target at 0.23, next one would be back to the monthly pivot/fib 0.618
There is currently a lot of convergence of support/ resistance, TL, channels, fib and pivot on ADA, which makes it an interesting watch
There is a divergence on H4 between MACD and RSI,
RSI double bottom, making a LL equivalent to the bottom of march
While MACD has a bullish divergence
Note
Nearing the target now, this should take little timeNote
Target met, worked well with timeframe and TL
Waiting for breakout of chanel, and for PA to aim for the pivot, fib 0.6 of correction
Bulish signal on RSI
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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.