ADA/USD - 24-48 hours more Consolidation and Buying Zones
ADA/USD - Consolidation sets in
Hello friends!
As expected, ADA could not regain 1.55 and prices broke down past 1.44 and to the 1.34 level before attempting a bit of a rebound.
Today prices are likely to continue their slow descent, and may not bottom out for 2-3 more 12H candles. This may feel like bad news, but it presents attractive buying prices that could pay off well when prices hit a new ATH (likely in June)
It is probable that downward pressure will persist through the first week of June, though prices may not go much below 1.11 to 1.15.
Buying Zones
Due to the slow and sustained descent, prices may not reach 1.00, but are expected to go lower. Prices between 1.00 and 1.20 are particularly attractive, but even up to 1.40 are worth considering, particularly if ADA at $3 is possible in June.
Intraday/Daily
Summary: Further consolidation under 1.30 likely, and towards 1.20.
3H - Today starts with an attempt to regain 1.40 on weak upward momentum (Green EMA higher than RSI but still well under level 50 and white EMA weak)
6H - Lower lows are in store. LSMA is falling, further expanding Bollinger bands, while green EMA is very low and well below white EMA. Prices are likely to move towards the lower orange B-band (1.23)
12H - Pattern in 12H is establishing as the start of a deeper consolidation with LSMA falling (expanding B-bands) and RSI and green EMA falling. Green is now lower than white, signalling lower lows. Expect prices to test 1.30 and likely fall towards 1.20 or 1.15
1D - All indicators falling with green EMA below white, meaning lower lows are likely. LSMA is falling, expanding the B-bands. Both RSI and LSMA are not too low yet, which may keep prices between the lower white and aqua B-bands (1.43 to 1.26), though prices could wick lower.
Multiday (next 4 days)
Summary: Sustained downward momentum likely to push prices to 1.25 or lower to 1.15
2D (24h left) - Green is converging with the falling RSI - lower than yesterday when it was crossing above. A pattern is forming where green EMA is going lower and will be below white EMA in the next candle. This would lead to lower lows, as would LSMA crossing below level 50. For the next 24 hours, prices may float around 1.34 or push further down to the lower white B-band (1.25)
4D (3 days left) - At the start of this candle, green was slightly up while all other indicators are down, but now green is firmly below level 50. RSI and LSMA are high enough that prices may not fall to the lower white B-band (1.13), but are likely to remain under the yellow basis (1.40) and drift further down.
9D (4 days left) - Green EMA is lower then yesterday, now at level 57. Further consolidation may push it to level 50 or below. If it closes at those levels, prices can be expected to drop to the 1.03 region. However, if prices rebound and rally before the candle closes in 4 days, this would be averted. It would still likely take 1-2 candles (9-18 days), from a bounce at the close of the current candle, before white EMA would come back up to level 50 and a major leg up could start.
Good luck and good fortune!
Hello friends!
As expected, ADA could not regain 1.55 and prices broke down past 1.44 and to the 1.34 level before attempting a bit of a rebound.
Today prices are likely to continue their slow descent, and may not bottom out for 2-3 more 12H candles. This may feel like bad news, but it presents attractive buying prices that could pay off well when prices hit a new ATH (likely in June)
It is probable that downward pressure will persist through the first week of June, though prices may not go much below 1.11 to 1.15.
Buying Zones
Due to the slow and sustained descent, prices may not reach 1.00, but are expected to go lower. Prices between 1.00 and 1.20 are particularly attractive, but even up to 1.40 are worth considering, particularly if ADA at $3 is possible in June.
Intraday/Daily
Summary: Further consolidation under 1.30 likely, and towards 1.20.
3H - Today starts with an attempt to regain 1.40 on weak upward momentum (Green EMA higher than RSI but still well under level 50 and white EMA weak)
6H - Lower lows are in store. LSMA is falling, further expanding Bollinger bands, while green EMA is very low and well below white EMA. Prices are likely to move towards the lower orange B-band (1.23)
12H - Pattern in 12H is establishing as the start of a deeper consolidation with LSMA falling (expanding B-bands) and RSI and green EMA falling. Green is now lower than white, signalling lower lows. Expect prices to test 1.30 and likely fall towards 1.20 or 1.15
1D - All indicators falling with green EMA below white, meaning lower lows are likely. LSMA is falling, expanding the B-bands. Both RSI and LSMA are not too low yet, which may keep prices between the lower white and aqua B-bands (1.43 to 1.26), though prices could wick lower.
Multiday (next 4 days)
Summary: Sustained downward momentum likely to push prices to 1.25 or lower to 1.15
2D (24h left) - Green is converging with the falling RSI - lower than yesterday when it was crossing above. A pattern is forming where green EMA is going lower and will be below white EMA in the next candle. This would lead to lower lows, as would LSMA crossing below level 50. For the next 24 hours, prices may float around 1.34 or push further down to the lower white B-band (1.25)
4D (3 days left) - At the start of this candle, green was slightly up while all other indicators are down, but now green is firmly below level 50. RSI and LSMA are high enough that prices may not fall to the lower white B-band (1.13), but are likely to remain under the yellow basis (1.40) and drift further down.
9D (4 days left) - Green EMA is lower then yesterday, now at level 57. Further consolidation may push it to level 50 or below. If it closes at those levels, prices can be expected to drop to the 1.03 region. However, if prices rebound and rally before the candle closes in 4 days, this would be averted. It would still likely take 1-2 candles (9-18 days), from a bounce at the close of the current candle, before white EMA would come back up to level 50 and a major leg up could start.
Good luck and good fortune!
Catatan
Update: The early day rally pushed higher than forecast, regaining the 1.55 and rallying above 1.60. Lower timeframes suggest that this may top out in the region of 1.55-1.60. If ADA can hold 1.55 today, there will be a good chance to avoid further consolidation as indicated in higher timeframes (e.g. 2D, 4D). If 1.55 does not hold, expect prices to again fall back to 1.44 or 1.34. Meanwhile, be cautious about opening margin long positions at current levels.Good luck!
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Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.