ADA/USD April 10 - Down to 1.18, sideways at 1.20 for BINANCE:ADAUSDT by c3l3x

ADA/USD April 10 - Down to 1.18, sideways at 1.20

Yesterday's ADA/USD forecast was for rise to the 1.25 region followed by a drop to the 1.18 region. Prices didn't quite swing that far, but did reach 1.22 and dropped to 1.19 in very narrow trading. ADA continues to be the most boring large cap crypto, despite a bright future.

Today we have a new 3-day candle in addition to the daily/intraday candles. Let's see what the indicators tell us:

Intraday/Daily
Summary: Sideways with possible drop to 1.18 or a bit below, but mainly around 1.20

3H - Prices have dropped to between the lower white and lower aqua B-bands. Green EMA is much lower than white EMA, which often indicates lower lows, while the LSMA dropping is starting to open up the B-Bands (though still quite narrow), allowing for a broader range of prices. However, with RSI coming up and green getting flatter, prices may not drop much lower than the lower orange B-Band (1.193)
6H - RSI and LSMA at 50 and about to cross lower, green and white EMA sharply below 50. Chance of prices going to lower aqua B-Band (1.166)
12H - Green and white EMA crossing 50 with RSI and LSMA just above 50. Sideways with a downward bias likely. 1.20 will continue to be a strong level.
1D - White EMA continues its descent below 50, green EMA below 50 but flat. RSI and LSMA also flat. This suggests continued sideways action around 1.20 during the day.

Multiday (next 3 days)
Summary: Sideways around 1.20, potentially moving down

2D (next 1 day) - Green EMA below the RSI, indicating downward momentum. Indicators are flat with slight downward bias = more sideways action around the 1.20 level
3D (next 3 days) - Green EMA has crossed below descending LSMA and RSI while white EMA is at level 50, indicating momentum has now turned downward tehcnically, but in reality flat. Given the close proximity of the indicators to the level 50 basis, prices are likely to remain sideways between 1.15 and 1.25, most likely around 1.20 region
4D (next 1 day) - Like the 2D, green EMA has crossed below the red RSI and white EMA is now below 50, indicating the start of downward momentum, but with LSMA and RSI still high in the 70s, prices are likely to stay closer to the upper white B-band. 1.30 is possible on a rally, but most likely to remain around 1.20 region
5D (next 1 day) - The 5D contradicts the 4D showing upward momentum with the green EMA crossing above the red RSI There is still a chance to head higher on a rally to 1.30 or above, but lower timeframes suggest this is unlikely. A new candle tomorrow will likely resolve the contradicting indicators.

The 2D, 4D, and 5D charts will close at the end of today. Thus, tomorrow will give us a lot more information about the rest of the weekend and next week.

Note that I posted a short video about the 8-day and 9-day charts, and the risk of a correction. I've linked that below.

Good luck and good fortune!

Note

BTC broke through 60k and may top out around 62k, about a 6% gain, increasing BTC dominance.

ADA has also risen, though gains are lagging with a rise of less than 3%. RSI and LSMA being flat and near level 50 suggests that prices will not go much higher than 1.25 in the current day. A spike to 1.30 could happen, but a new trading level will likely consolidate between 1.20 and 1.25 - not much higher than where we have been trading.

c3l3x

Related publications

ADA/USD 8D and 9D charts show RISK of correction before ATH

by c3l3x

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