ADA/USD April 14 - Test of 1.488 ATH likely, new ATH not likely
A new BTC ATH helped carry ADA to a breakout above the 1.34 channel. It could not reach the ATH or the resistance levels near it in the 1.47 to 1.50 range, however.
Today may have two interesting things in store:
1) Possible dip to the 1.34 support level (retest)
2) Possible test of the 1.47/1.50 resistance level (not likely to be broken)
Intraday (next 24 hours)
Summary: Possible dip to 1.35 region, but mostly at/above 1.41 with rally to ATH level (1.488) likely. New ATH not likely due to slowing upward momentum and strong resistance
90m - Green EMA has crossed below the red RSI but is parallel just below it, descending slightly. White EMA is steady below 50 at 38. This suggests sideways price action around the upper aqua B-Band (1.42)
3H - Green EMA has crossed below the RSI and LSMA while white EMA has dropped sharply to level 50, incdicating downward pressure starting. Prices likely to stay around upper aqua B-Band (1.41) in current candle, but could set up move to sub-1.40 prices in subsequent candles.
6H - Green EMA far above white EMA reflecting higher highs. LSMA and RSI moving up together allowing for upward price movement towards upper orange B-Band (1.46), but green EMA looks to be flat or starting to descend, while white EMA may be near topping a nd not have enough energy to push prices higher than 1.43 region.
12H - Green EMA far above white EMA reflecting higher highs. LSMA and RSI moving up together allowing for upward price movement between upper orange and red B-bands (1.43 to 1.50). White EMA has descended, indicating lower upward momentum, but still high and sustaining. Likely chance in 12H (or next candle) to test ATH.
1D - Green EMA above white and flattening. RSI and LSMA still rising sharply. White EMA starting to descend, but still very high. Prices likely to be in the upper orange to upper red B-bands (1.41 to 1.488). Likely chance to test the ATH region around 1.488. New ATH possible, but not likely in the 24H.
2D, 4D - both candles close in 24 hours and suggest tops around 1.48
Next 2 days
3D, 5D - both candles close in 2 days and suggest a run at the ATH/1.50 area, but not likely beyond
Next 5 days (rest of this week)
6D, 1-week charts - Both candles close in 5 days and suggest challenge to the ATH/1.50 region, but does not look like there is enough upward momentum to break that resistance level. If broken, 1.60 to 1.63 would be the next level.
Good luck and good fortune!
Today may have two interesting things in store:
1) Possible dip to the 1.34 support level (retest)
2) Possible test of the 1.47/1.50 resistance level (not likely to be broken)
Intraday (next 24 hours)
Summary: Possible dip to 1.35 region, but mostly at/above 1.41 with rally to ATH level (1.488) likely. New ATH not likely due to slowing upward momentum and strong resistance
90m - Green EMA has crossed below the red RSI but is parallel just below it, descending slightly. White EMA is steady below 50 at 38. This suggests sideways price action around the upper aqua B-Band (1.42)
3H - Green EMA has crossed below the RSI and LSMA while white EMA has dropped sharply to level 50, incdicating downward pressure starting. Prices likely to stay around upper aqua B-Band (1.41) in current candle, but could set up move to sub-1.40 prices in subsequent candles.
6H - Green EMA far above white EMA reflecting higher highs. LSMA and RSI moving up together allowing for upward price movement towards upper orange B-Band (1.46), but green EMA looks to be flat or starting to descend, while white EMA may be near topping a nd not have enough energy to push prices higher than 1.43 region.
12H - Green EMA far above white EMA reflecting higher highs. LSMA and RSI moving up together allowing for upward price movement between upper orange and red B-bands (1.43 to 1.50). White EMA has descended, indicating lower upward momentum, but still high and sustaining. Likely chance in 12H (or next candle) to test ATH.
1D - Green EMA above white and flattening. RSI and LSMA still rising sharply. White EMA starting to descend, but still very high. Prices likely to be in the upper orange to upper red B-bands (1.41 to 1.488). Likely chance to test the ATH region around 1.488. New ATH possible, but not likely in the 24H.
2D, 4D - both candles close in 24 hours and suggest tops around 1.48
Next 2 days
3D, 5D - both candles close in 2 days and suggest a run at the ATH/1.50 area, but not likely beyond
Next 5 days (rest of this week)
6D, 1-week charts - Both candles close in 5 days and suggest challenge to the ATH/1.50 region, but does not look like there is enough upward momentum to break that resistance level. If broken, 1.60 to 1.63 would be the next level.
Good luck and good fortune!
Note
ADA/USD managed to power through the 1.488 ATH to reach 1.54 before pausing. Exuberance and FOMO continue to power sustained upward momentum, as seen across the crypto markets.Although ADA wicked above the 1.52 fib, prices have fallen back below that and are consolidating at the moment.
The charts are mixed with the new 6H showing a potential top and shorter timeframes showing a mix of sideways and downward momentum. The daily is also indicating a likely top between the upper red and orange B-Bands (1.45 to 1.53). The 12H, however, differs from the others by indicating upward pressure that may persist for 2-3 more candles while green EMA, RSI, and LSMA continue a strong increase.
Where prices go from here is not entirely clear. It may be that prices have topped. 45m and 90m timeframes suggest a dip to 1.45 or lower, while the 3H and 6H are showing sideways/slightly upward action around the 1.50 level. 16H and 18H suggest prices are topping and a descent could occur later in the day as the white EMA nears level 50. The 12H is the wildcard.
My best interpretation at this time is at there is a chance that prices could continue upwards to the 1.60 fib during the remainder of the day, but there is a good chance the peak of 1.54 is the highest ADA will go for now. There is no indication of a significant retracement yet (e.g., down to 1.35)
Note
Quick update the downward pressure that ADA has been in for the past several hours.- Another attempt at an ATH or the 1.53 fib region does not look likely in the remainder of this trading day.
- Prices dropped to 1.35 briefly and bounced
- Across the intraday timeframes, indicators are suggesting another run to the downside
- In the next 4-8 hours another possible drop to 1.35. If 1.35 does not hold, then 1.30 is possible
- A deeper retracement does not appear likely at the moment as RSI levels are still above 80 in 6H and above timeframes. Even if the green EMA were to close at/below level 50 when RSI is >80, it is more likely to bounce than prices continue to the yellow basis line.
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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.