ADA/USD Price rise taking a small break, but $2 - 2.42 next week
Hello friends!
I will try to resume regular posts for a few weeks once I am back home this weekend. I have a bit of spare time, so I thought I'd provide an update for today.
ADA's bull run has been in full swing with new highs each day. The biggest gains may not start to break out for another week. In the meantime, there is plenty of interesting price action, and likely price appreciation.
Today there is likely a dip to 1.55 or a bit lower before returning to the 1.65 level, presenting a good opportunity to accumulate more ADA at a slight discount.
The rest of this week may see sideways movement around 1.65 but slowly moving up to 1.75 to 1.80, unless there is a strong crypto market move that adds upward momentum
Around May 16, we could see a major leg up start with prices quickly going to 2.00, then 2.42 or higher. Expect upward price movement to persist into early June.
Intraday (Today)
Summary: Dip to 1.55 possible, but likely to recover to 1.65 region and move sideways other parts of the day.
6H - With green EMA below 50 and RSI down to 60, downward momentum is in control, but green and white EMAs are starting to slow their descent. Prices are likely to be between the yellow basis and lower white B-band 1.68 to 1.61. In the following candle, prices could go lower towards 1.57, but 1.60 appears to be a strong level of support despite the earlier flash drop to 1.52
12H - Green EMA is close to level 50. There is a chance that it will bounce and not close below level 50, in which case prices may be limited to 1.60 or 1.57. If the green EMA closes below level 50, prices are likely to go to 1.55, but may not last long nor go much deeper.
1D - Despite the white EMA being below level 50 and green EMA being below the RSI (indicating downward momentum), RSI, LSMA, and green EMA are all flat, suggesting that any dip may come back up within the day and prices will continue to range around the 1.65 level generally.
Multiday (next 5 days)
Summary: Prices should slowly move up from 1.65 toward 1.80, but may be slow without an impulse move.
2D - (2 days left) - Green and white EMA are descending, but upward pressure is still in control, while RSI and LSMA are increasing. Prices likely to rise from the upper aqua towards the upper orange B-bands (1.63 up to 1.78), but may rise slowly due to slowing upward momentum.
5D - (5 days left) - Green EMA, RSI, and LSMA are flat. White EMA is rising, which may help push prices up towards the upper orange B-band (1.81), but prices may be somewhat sideways without a push from an impulse move up.
Next 7-9 days
Summary: Downward momentum is not fully exhausted but close to a reversal to sustained upward momentum. Increasing chance of a breakout to 2.00+ around May 16-18, if not sooner, followed rise to $2.42 or higher in following week or two.
9D - (5 days left) Green EMA has crossed above the RSI. If it closes this way, reversal will be in swing and starting sustained upward price movement. White EMA is at 46, and could close above level 50. Once it is above level 50, it should result in strong upward momentum.
Good luck and good fortune!
I will try to resume regular posts for a few weeks once I am back home this weekend. I have a bit of spare time, so I thought I'd provide an update for today.
ADA's bull run has been in full swing with new highs each day. The biggest gains may not start to break out for another week. In the meantime, there is plenty of interesting price action, and likely price appreciation.
Today there is likely a dip to 1.55 or a bit lower before returning to the 1.65 level, presenting a good opportunity to accumulate more ADA at a slight discount.
The rest of this week may see sideways movement around 1.65 but slowly moving up to 1.75 to 1.80, unless there is a strong crypto market move that adds upward momentum
Around May 16, we could see a major leg up start with prices quickly going to 2.00, then 2.42 or higher. Expect upward price movement to persist into early June.
Intraday (Today)
Summary: Dip to 1.55 possible, but likely to recover to 1.65 region and move sideways other parts of the day.
6H - With green EMA below 50 and RSI down to 60, downward momentum is in control, but green and white EMAs are starting to slow their descent. Prices are likely to be between the yellow basis and lower white B-band 1.68 to 1.61. In the following candle, prices could go lower towards 1.57, but 1.60 appears to be a strong level of support despite the earlier flash drop to 1.52
12H - Green EMA is close to level 50. There is a chance that it will bounce and not close below level 50, in which case prices may be limited to 1.60 or 1.57. If the green EMA closes below level 50, prices are likely to go to 1.55, but may not last long nor go much deeper.
1D - Despite the white EMA being below level 50 and green EMA being below the RSI (indicating downward momentum), RSI, LSMA, and green EMA are all flat, suggesting that any dip may come back up within the day and prices will continue to range around the 1.65 level generally.
Multiday (next 5 days)
Summary: Prices should slowly move up from 1.65 toward 1.80, but may be slow without an impulse move.
2D - (2 days left) - Green and white EMA are descending, but upward pressure is still in control, while RSI and LSMA are increasing. Prices likely to rise from the upper aqua towards the upper orange B-bands (1.63 up to 1.78), but may rise slowly due to slowing upward momentum.
5D - (5 days left) - Green EMA, RSI, and LSMA are flat. White EMA is rising, which may help push prices up towards the upper orange B-band (1.81), but prices may be somewhat sideways without a push from an impulse move up.
Next 7-9 days
Summary: Downward momentum is not fully exhausted but close to a reversal to sustained upward momentum. Increasing chance of a breakout to 2.00+ around May 16-18, if not sooner, followed rise to $2.42 or higher in following week or two.
9D - (5 days left) Green EMA has crossed above the RSI. If it closes this way, reversal will be in swing and starting sustained upward price movement. White EMA is at 46, and could close above level 50. Once it is above level 50, it should result in strong upward momentum.
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.