ADA/USD April 23 - 1.03 possible, risk of sub 1.00 by end of Apr
Hello friends! Yesterday prices were at the top end of the forecast until BTC broke below 53k, leading ADA to drop to 1.11 at the end of the trading day.
Today expect more downward price action, increasing risk of drop to 1.03, possibly today.
Intraday (next 24 hours)
Summary: Continued fall in prices, between 1.18 and 1.11.
3H - Green EMA lower than white EMA, both very low, suggesting lower lows. RSI and LSMA are below 50 but high enough to limit downward price action. Prices will likely test the 1.11 fib and range between 1.11 and 1.18
6H - RSI and LSMA are descending. B-bands are expanding, allowing ofr more downward movement. Green EMA lower than white EMA means lower lows. Expect retest of 1.11. If broken, 1.08 to 1.03 possible
12H - All indicators low and descending. Green EMA is well below white EMA. With LSMA falling, B-Bands are expanding. This suggests lower lows. If 1.11 does not hold, prices could drop to 1.03
1D - RSI continues to descend. Green EMA is flat and touching RSI. White EMA has flattened its increase. This suggests that prices will descend, but may be limited in how far prices drop. Prices may reach 1.03, but could range around the 1.11 fib.
Multiday (rest of this week)
Summary: Downward momentum continues, probable drop to 1.03, risk of sub-1.00 in the new 8D chart
2D through 6D all show white EMA below level 50, and in all cases green EMA is below red RSI, showing downward pressure for the next several days.
The new 4D chart has the green EMA far below level 50. RSI and LSMA above 50 will keep prices from dropping too far, but a drop to 1.03 in the next few days is likely without a market reversal/rebound.
As mentioned yesterday, the 5D (3 days left) is showing increased risk of a drop to 1.03. The green EMA is now touching level 50. If this trajectory continues, then 1.03 will be likely.
A bigger concern now is the new 8D chart. In that chart the RSI is below level 80 and the green EMA is almost at level 50 (55 currently). If the candle closes with the green EMA and/below level 50, then prices are likely to go to the yellow basis line in the following candle, which looks like it will be around 0.78. The LSMA is still very high, but 0.89 or below would be in play.
Good luck and good fortune!
Today expect more downward price action, increasing risk of drop to 1.03, possibly today.
Intraday (next 24 hours)
Summary: Continued fall in prices, between 1.18 and 1.11.
3H - Green EMA lower than white EMA, both very low, suggesting lower lows. RSI and LSMA are below 50 but high enough to limit downward price action. Prices will likely test the 1.11 fib and range between 1.11 and 1.18
6H - RSI and LSMA are descending. B-bands are expanding, allowing ofr more downward movement. Green EMA lower than white EMA means lower lows. Expect retest of 1.11. If broken, 1.08 to 1.03 possible
12H - All indicators low and descending. Green EMA is well below white EMA. With LSMA falling, B-Bands are expanding. This suggests lower lows. If 1.11 does not hold, prices could drop to 1.03
1D - RSI continues to descend. Green EMA is flat and touching RSI. White EMA has flattened its increase. This suggests that prices will descend, but may be limited in how far prices drop. Prices may reach 1.03, but could range around the 1.11 fib.
Multiday (rest of this week)
Summary: Downward momentum continues, probable drop to 1.03, risk of sub-1.00 in the new 8D chart
2D through 6D all show white EMA below level 50, and in all cases green EMA is below red RSI, showing downward pressure for the next several days.
The new 4D chart has the green EMA far below level 50. RSI and LSMA above 50 will keep prices from dropping too far, but a drop to 1.03 in the next few days is likely without a market reversal/rebound.
As mentioned yesterday, the 5D (3 days left) is showing increased risk of a drop to 1.03. The green EMA is now touching level 50. If this trajectory continues, then 1.03 will be likely.
A bigger concern now is the new 8D chart. In that chart the RSI is below level 80 and the green EMA is almost at level 50 (55 currently). If the candle closes with the green EMA and/below level 50, then prices are likely to go to the yellow basis line in the following candle, which looks like it will be around 0.78. The LSMA is still very high, but 0.89 or below would be in play.
Good luck and good fortune!
Note
Quick update: Today's BTC options expiry brought BTC to 
49K, resulting in a major selloff across the crypto market. The 1.11 and 1.03 levels could not hold and prices fell to 0.92 before rebounding to the 1.00 region.There is still significant downward momentum, however. Prices may stay under 1.00 and trend towards the next Fibonacci level, which is 0.89. This is the level to watch. If this is broken, then prices could fall as low as 0.75-0.80.
Note
Update 2: ADA/USD rebounded after the initial crash to 0.92 but could not reach 1.10 or regain the 1.11 fib. With BTC struggling to maintain 49K, the 1.03 support level has not held and prices currently are just over 1.00. Downward momentum continues to be strong. It will not take much to send prices back to the sub-1.00 level.
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.