Possible retest of support and RSI divergence

2021년 9월 8일

Hey everyone, Binky here!

First time posting, hope everyone can get some insight into what I think could be a turning point for the short term on ADA.

Looking at the 1H chart we can see a clear down trend being formed, higher lows are being formed along with lower lows.
The current levels of support based on my analysis appear to be $2.20 and $2.00, with resistance being met at $2.44.
RSI shows somewhat of a divergence with higher lowes and lower highs being formed with low volume and lower prices coming in while it rises, could this be a sign for an even further dropping of the price?

My personal price targets are looking at $2.10 following the channel only IF support is broken at $2.20 with the possible risk of having the price drop even further than $2.00 if it does not hold.

This is all just dubious speculation of course, take everything with a grain of salt.

Thank you for taking the time on reading my first post! Good luck out there and I hope everyone can make some nice gains and get in at some better prices :)

2021년 9월 9일

노트

Meant to say lower swing highs and lower swing lows on the 1st sentence, sorry!

2021년 9월 9일

노트

Also meant higher highs on the 3rd sentence, jeez did I mess this up.