ADAUSDT Major rebound to the 1D MA50, unbroken in over 1 month.
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For this particular analysis on
ADAUSDT we are using the ADAUSDT symbol on the OKX exchange.
*** ***
The idea is on the 1D time-frame whereADAUSDT is following the general market bullish sentiment (led by Bitcoin), rising by more than +15% in a day and is about to hit the 1D MA50 (blue trend-line). This level has been unbroken since September 13. The first short-term bullish break-out was done today as in the meantime, the price broke above the (dashed) Lower Highs trend-line of the September 10 High.
A break above the 1D MA50, would be the second short-term bullish break-out and can target the top (Lower Highs trend-line) of the Falling Wedge pattern that is dictating the trend since the May collapse. A break above that level, if it coincides with a break above the 1D MA200 (orange trend-line), would be a medium-term bullish break-out and targets the August 15 High. The level that would shift the trend back to long-term bullish territory would be the 0.6900 May 13 High.
Note that an additional signal for a medium-term bullish break-out to pay attention to, would be the RSI (on the 1W time-frame) breaking above the 40.17 Resistance, which made a Double Top so far both on August 14 and September 11.
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For this particular analysis on
ADAUSDT we are using the ADAUSDT symbol on the OKX exchange.*** ***
The idea is on the 1D time-frame where
ADAUSDT is following the general market bullish sentiment (led by Bitcoin), rising by more than +15% in a day and is about to hit the 1D MA50 (blue trend-line). This level has been unbroken since September 13. The first short-term bullish break-out was done today as in the meantime, the price broke above the (dashed) Lower Highs trend-line of the September 10 High.A break above the 1D MA50, would be the second short-term bullish break-out and can target the top (Lower Highs trend-line) of the Falling Wedge pattern that is dictating the trend since the May collapse. A break above that level, if it coincides with a break above the 1D MA200 (orange trend-line), would be a medium-term bullish break-out and targets the August 15 High. The level that would shift the trend back to long-term bullish territory would be the 0.6900 May 13 High.
Note that an additional signal for a medium-term bullish break-out to pay attention to, would be the RSI (on the 1W time-frame) breaking above the 40.17 Resistance, which made a Double Top so far both on August 14 and September 11.
-------------------------------------------------------------------------------
** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. **
-------------------------------------------------------------------------------
You may also TELL ME 🙋♀️🙋♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁
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