ADA/USD - 1.30 - 1.20 Ranged Today, 1.11 in 3-4 Days
Hello friends!
As forecast, yesterday ADA tested 1.20. Much of the day was between 1.20 and 1.25.
The trading day has started with a rally to 1.28 and the potential for a test of 1.30, but the overall trend remains down for the day and coming days. Today could see another test of 1.20.
The new 3D chart suggests lower lows are in store for the next few days. Longer timeframes such as the 1W and 10D suggest that a return to 1.00 is likely next week. I will explore those in more detail tomorrow when the candles close.
Intraday
Summary: Possible test of 1.30, but likely ranged action and a test of 1.20 again.
3H - Green EMA rose sharply on an early day rally to 1.29 (yellow basis). This has turned RSI and LSMA up slightly. However, the green EMA is below white EMA, so no new highs are likely. And, the LSMA is only slightly higher and still below the RSI. Rather than a bottom, this may be just a wiggle, and prices fall back under 1.25. However, if sustained, prices could attempt to test 1.30 in later candles.
6H - Similar to the 3H but with lower levels. A rally could be beginning with the green EMA crossing above the RSI and touching the LSMA, but currently the white EMA is weak. If momentum continues through the first half of the day a test of 1.30 is possible, but if not, expect prices to fall back to 1.25 or lower
12H - Mixed indicators suggest sideways action around the 1.25 level. RSI and LSMA are trending down, but white and green EMAs are slightly rising.
1D - Daily chart shows the green EMA below the RSI while the white EMA falls closer to level 50. LSMA is flat and below RSI. Prices should move towards the lower aqua B-band (1.18) again testing 1.20 unless the early day rally can be sustained.
New 3 Day Chart
LSMA and RSI continue to steadily decline under level 50 indicating sustained downward momentum. Bollinger bands are likely to expand further as LSMA drops. White EMA is rising, but at a slower pace. Meanwhile, green EMA remains low, and lower than the white. When green is lower than white (when under level 50), this often indicates lower lows. Prices should remain around lower aqua in the current candle, but may fall lower if 1.20 does not hold. Without a rally to 1.40 or higher, the trend is likely to continue, with 1.11 possible by the end of the month.
Good luck and good fortune!
As forecast, yesterday ADA tested 1.20. Much of the day was between 1.20 and 1.25.
The trading day has started with a rally to 1.28 and the potential for a test of 1.30, but the overall trend remains down for the day and coming days. Today could see another test of 1.20.
The new 3D chart suggests lower lows are in store for the next few days. Longer timeframes such as the 1W and 10D suggest that a return to 1.00 is likely next week. I will explore those in more detail tomorrow when the candles close.
Intraday
Summary: Possible test of 1.30, but likely ranged action and a test of 1.20 again.
3H - Green EMA rose sharply on an early day rally to 1.29 (yellow basis). This has turned RSI and LSMA up slightly. However, the green EMA is below white EMA, so no new highs are likely. And, the LSMA is only slightly higher and still below the RSI. Rather than a bottom, this may be just a wiggle, and prices fall back under 1.25. However, if sustained, prices could attempt to test 1.30 in later candles.
6H - Similar to the 3H but with lower levels. A rally could be beginning with the green EMA crossing above the RSI and touching the LSMA, but currently the white EMA is weak. If momentum continues through the first half of the day a test of 1.30 is possible, but if not, expect prices to fall back to 1.25 or lower
12H - Mixed indicators suggest sideways action around the 1.25 level. RSI and LSMA are trending down, but white and green EMAs are slightly rising.
1D - Daily chart shows the green EMA below the RSI while the white EMA falls closer to level 50. LSMA is flat and below RSI. Prices should move towards the lower aqua B-band (1.18) again testing 1.20 unless the early day rally can be sustained.
New 3 Day Chart
LSMA and RSI continue to steadily decline under level 50 indicating sustained downward momentum. Bollinger bands are likely to expand further as LSMA drops. White EMA is rising, but at a slower pace. Meanwhile, green EMA remains low, and lower than the white. When green is lower than white (when under level 50), this often indicates lower lows. Prices should remain around lower aqua in the current candle, but may fall lower if 1.20 does not hold. Without a rally to 1.40 or higher, the trend is likely to continue, with 1.11 possible by the end of the month.
Good luck and good fortune!
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