ADAUSD - 1D Chart Analysis
The bullish trend has started on the 4th of November, once the price has crossed the 20 days MA and it was stabilized between the latest and the upper standard deviation of the Bollinger Bands. This trend was also confirmed once the price has failed to cross back the same 20 days MA, which in this case acted as a support level.
From the technical perspective, we can see the RSI being close to it's neutrality while the Stochastic's crossover is indicating that the bullish trend will continue. This is also confirmed by the MACD, as long as it's MA is still below the Signal one meaning that there is still more room for the price improvement and also by the trading volumes which seem to be increasing.
Although there are reasons to expect the price growth to continue, this continuation cannot be "aggressive" as long as the strong fundamentals seem to be missing. A reasonable target price can be considered 0.0807$ (the upper standard deviation of the Bollinger Bands) or 0.0849$ in extension.
From the technical perspective, we can see the RSI being close to it's neutrality while the Stochastic's crossover is indicating that the bullish trend will continue. This is also confirmed by the MACD, as long as it's MA is still below the Signal one meaning that there is still more room for the price improvement and also by the trading volumes which seem to be increasing.
Although there are reasons to expect the price growth to continue, this continuation cannot be "aggressive" as long as the strong fundamentals seem to be missing. A reasonable target price can be considered 0.0807$ (the upper standard deviation of the Bollinger Bands) or 0.0849$ in extension.
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