Cardano / TetherUSShort
ADA/USD April 20 - Down more, 1.11-ish could be bottom
Hello friends! As forecast, ADA/USD stayed under the 1.34 fib. Prices did briefly drop to 1.17, but mainly were in the 1.20 to 1.25 range. Markets were generally sour, and may not turn around for a few more days.
Today expect more downward price action, then flattening out in the next 1-2 days.
Intraday (next 24 hours)
Summary: Continued fall in prices, between 1.20 and 1.11.
3H - All indicators well below 50. Lower lows are likely with green EMA below white. RSI has not turned around yet despite white EMA coming up near level 50. In the first few hours of the day, prices are likely to continue to slowly descend to 1.18 and below.
6H - All indicators below 50, showing downward momentum. Green EMA is lower than the white EMA, suggesting lower lows, potentially between lower aqua and lower orange B-bands. Prices could go to 1.15 or further down to 1.11, where there is support.
12H - LSMA is down and nearing level 50 while other indicators remain below level 50 and falling. Again, prices likely to move to the lower aqua to lower orange B-band range of 1.16 to 1.06, with 1.15 and 1.11 being levels of support.
1D - RSI is close to crossing below level 50. White EMA is starting to come up and green EMA is starting to flatten its descent. This suggests that we will not see a new lower low. Prices should range between 1.18 and 1.11, though a wick to a lower level is possible. Prices at/below the 1.03 fib seem unlikely at this point.
Multiday (rest of this week)
Summary: Downward trend for the next 3 days+, bottom could be around 1.11
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.
Only the 2D has the green EMA crossing below level 50 at this point, with prices below the yellow basis lines (though the 3D is already slightly below).
In the 4D the green EMA is starting to trend towards a possible bottom, but it will take a few more days for that to close and see the trajectory in the next candle. Even if the green EMA did get to level 50 and close there, the yellow basis line is 1.12 currently and would be higher in the next candle, suggesting prices may not go much lower than the 1.11 fib.
Buy Zones
ADA/USD is likely to recover by the end of the month with May looking promising for new ATH's across many coins. Current price range likely is a good buy zone, but you may want to wait a couple of days before there is a clearer indication of a reversal coming in the event that prices were to continue downward.
Good luck and good fortune!
Today expect more downward price action, then flattening out in the next 1-2 days.
Intraday (next 24 hours)
Summary: Continued fall in prices, between 1.20 and 1.11.
3H - All indicators well below 50. Lower lows are likely with green EMA below white. RSI has not turned around yet despite white EMA coming up near level 50. In the first few hours of the day, prices are likely to continue to slowly descend to 1.18 and below.
6H - All indicators below 50, showing downward momentum. Green EMA is lower than the white EMA, suggesting lower lows, potentially between lower aqua and lower orange B-bands. Prices could go to 1.15 or further down to 1.11, where there is support.
12H - LSMA is down and nearing level 50 while other indicators remain below level 50 and falling. Again, prices likely to move to the lower aqua to lower orange B-band range of 1.16 to 1.06, with 1.15 and 1.11 being levels of support.
1D - RSI is close to crossing below level 50. White EMA is starting to come up and green EMA is starting to flatten its descent. This suggests that we will not see a new lower low. Prices should range between 1.18 and 1.11, though a wick to a lower level is possible. Prices at/below the 1.03 fib seem unlikely at this point.
Multiday (rest of this week)
Summary: Downward trend for the next 3 days+, bottom could be around 1.11
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.
Only the 2D has the green EMA crossing below level 50 at this point, with prices below the yellow basis lines (though the 3D is already slightly below).
In the 4D the green EMA is starting to trend towards a possible bottom, but it will take a few more days for that to close and see the trajectory in the next candle. Even if the green EMA did get to level 50 and close there, the yellow basis line is 1.12 currently and would be higher in the next candle, suggesting prices may not go much lower than the 1.11 fib.
Buy Zones
ADA/USD is likely to recover by the end of the month with May looking promising for new ATH's across many coins. Current price range likely is a good buy zone, but you may want to wait a couple of days before there is a clearer indication of a reversal coming in the event that prices were to continue downward.
Good luck and good fortune!
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.