Cardano / TetherUSShort
ADA/USD April 15 - Down, possible 1.03 retest, Risk of 0.89 soon
Hello friends! As expected, yesterday prices ranged sideways with 1.11 being a focal point.
Today's prices will continue to move sideways with a downward bias, and downward momentum continues in the next several days. ADA has not been able to cross above the 50MA (currently at 1.20), and multiday charts are still looking down with an increasing risk of dropping below 1.00 in the next several days.
Intraday
Summary: A rally to 1.16 is possible, but prices likely to remain at 1.11 or below in sideways and down action to 1.06 or lower
6H - LSMA is descending, opening B-Bands, allowing for lower prices, while RSI is also starting to move down again. Green EMA below white EMA suggests lower lows. Prices likely in the lower white to lower aqua B-bands 1.11 to 1.08
12H - Green EMA had crossed over the RSI in the past three candles. Usually that means upward pressure, but that did not really materialize. ADA did see prices make a run at 1.20, but it was short lived. Green EMA is now turning down, white EMA is also descending. While RSI looks like it's turning up, the overall picture is prices moving downward. In the first half of the day, prices likely to remain in the lower white to lower aqua B-Bands, 1.13 to 1.06
1D - Green RMA and RSI are touching, with green slightly above indicating a bit of upward pressure, while white EMA is nearing level 50. Upward momentum could be starting, but is is very weak. With the LSMA crossing below level 50, B-Bands will expand and prices will be pressured to move lower. Overall, this suggests prices staying in the lower white to lower aqua B-bands today, 1.15 to 1.08, with the potential to move lower as the day progresses.
Multiday (2-3 days)
Summary: Downward momentum will continue with prices dropping below 1.11 and possible 1.03/1.00 retest
New 2D, 3D charts - While green and white EMA are flattening or starting to reverse in the 2D and 3D, this may not lead to prices coming up. The RSI and LSMA have crossed below level 50 in the 2D. This means lower prices and wider B-Bands. In the 3D the RSI and LSMA are about to cross below level 50, showing momentum for prices to go lower. Likely that prices will be around the 1.11 fib but drop to lower aqua B-Band (1.07 to 1.04)
4D (2 days left) - RSI and LSMA are above level 50 (though nearing it), which will keep prices from descending too far, but a test of 1.03 or even 1.00 is quite possible.
Next week
Summary: No sign of a bottom/reversal yet, and notable risk of dropping to 0.89 in the next 6 days unless prices rally in the meantime.
New 6D chart - Green EMA is below level 50 while RSI is under level 80. Without a rally in prices, and if the trajectory were to continue and close at/below these levels, prices will likely go to the yellow basis line at the end of the candle or in the next candle (currently 0.91).
11 day chart (7 days left) - No indication of a reversal yet. Prices look to remain between 1.04 and 1.25, but could go sub-1.00 if downward momentum continues in the next few days.
Good luck and good fortune!
Today's prices will continue to move sideways with a downward bias, and downward momentum continues in the next several days. ADA has not been able to cross above the 50MA (currently at 1.20), and multiday charts are still looking down with an increasing risk of dropping below 1.00 in the next several days.
Intraday
Summary: A rally to 1.16 is possible, but prices likely to remain at 1.11 or below in sideways and down action to 1.06 or lower
6H - LSMA is descending, opening B-Bands, allowing for lower prices, while RSI is also starting to move down again. Green EMA below white EMA suggests lower lows. Prices likely in the lower white to lower aqua B-bands 1.11 to 1.08
12H - Green EMA had crossed over the RSI in the past three candles. Usually that means upward pressure, but that did not really materialize. ADA did see prices make a run at 1.20, but it was short lived. Green EMA is now turning down, white EMA is also descending. While RSI looks like it's turning up, the overall picture is prices moving downward. In the first half of the day, prices likely to remain in the lower white to lower aqua B-Bands, 1.13 to 1.06
1D - Green RMA and RSI are touching, with green slightly above indicating a bit of upward pressure, while white EMA is nearing level 50. Upward momentum could be starting, but is is very weak. With the LSMA crossing below level 50, B-Bands will expand and prices will be pressured to move lower. Overall, this suggests prices staying in the lower white to lower aqua B-bands today, 1.15 to 1.08, with the potential to move lower as the day progresses.
Multiday (2-3 days)
Summary: Downward momentum will continue with prices dropping below 1.11 and possible 1.03/1.00 retest
New 2D, 3D charts - While green and white EMA are flattening or starting to reverse in the 2D and 3D, this may not lead to prices coming up. The RSI and LSMA have crossed below level 50 in the 2D. This means lower prices and wider B-Bands. In the 3D the RSI and LSMA are about to cross below level 50, showing momentum for prices to go lower. Likely that prices will be around the 1.11 fib but drop to lower aqua B-Band (1.07 to 1.04)
4D (2 days left) - RSI and LSMA are above level 50 (though nearing it), which will keep prices from descending too far, but a test of 1.03 or even 1.00 is quite possible.
Next week
Summary: No sign of a bottom/reversal yet, and notable risk of dropping to 0.89 in the next 6 days unless prices rally in the meantime.
New 6D chart - Green EMA is below level 50 while RSI is under level 80. Without a rally in prices, and if the trajectory were to continue and close at/below these levels, prices will likely go to the yellow basis line at the end of the candle or in the next candle (currently 0.91).
11 day chart (7 days left) - No indication of a reversal yet. Prices look to remain between 1.04 and 1.25, but could go sub-1.00 if downward momentum continues in the next few days.
Good luck and good fortune!
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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.