ADA/USD $2+ by May 16, but May 21-24 more likely
Hi friends!
As promised, here is an update on when we can expect ADA/USD to breakout to a new ATH in light of the the recent flash crash and rebound (short squeeze).
Summary:
- For the remainder of this week, there is still downward momentum despite a nice rise in prices to the 1.20 region.
- Indicators suggest volatility in the next week with prices likely to test 1.03 again, but also a chance to range up to 1.20+ again
- A risk persists of a drop below 1.00 before a reversal to sustained upward momentum
- Price targets for May are between 2.00 and 2.30 at present, but may chance based on balance of momentum in the next week
- The earliest we can expect a sustained breakout to the upside is now mid-May (around May 16)
- It could take until May 21-24 before downward momentum has exhausted enough for all indicators to be above level 50 and the next wave of the bull cycle to start
Good luck and good fortune!
As promised, here is an update on when we can expect ADA/USD to breakout to a new ATH in light of the the recent flash crash and rebound (short squeeze).
Summary:
- For the remainder of this week, there is still downward momentum despite a nice rise in prices to the 1.20 region.
- Indicators suggest volatility in the next week with prices likely to test 1.03 again, but also a chance to range up to 1.20+ again
- A risk persists of a drop below 1.00 before a reversal to sustained upward momentum
- Price targets for May are between 2.00 and 2.30 at present, but may chance based on balance of momentum in the next week
- The earliest we can expect a sustained breakout to the upside is now mid-May (around May 16)
- It could take until May 21-24 before downward momentum has exhausted enough for all indicators to be above level 50 and the next wave of the bull cycle to start
Good luck and good fortune!
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Related publications
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.