ADA at crucial point but there is hope!
Updated
Cardano aka ADA the new mega coin is at a crucial point.
Generally a big coin with great future potential, so if you are looking for a good investment longterm, her it is. Besides Stellar it is one of my favourite coins at the moment. Solid project and background, a huge community, very liquid and amazing to trade also with bigger positions.
But where are we short-term trading wise? At a very crucial point!
ADA has been very weak on the weekend and espacialy today, same as almost all other coins, low volumes, everyone who is day-trading seems to be back to fiat over the weekend.
ADA is currently crawling around the support, with very little momentum and it will either be falling through support or will go up from here. It is in a crucial zone, cos if it falls through support the next support is at 5000ish which would be a 12.5% drop, so nothing we would enjoy!
But there is hope! Let´s have look at the indicators (1h chart):
MACD: is currently crossing and introduces the next wave up
RSI: is oversold and pointing up and supports upward movement impression
Stoch RSI: also moving upward
DMI: very little momentum on sundays crypto blues, but bulls still in lead
So the next hours will be crucial, in about 2-3 hours Asian trading session starts and this will surely give another push higher, if it hasn´t fallen through support until then, cos nobody will buy into a bear flag/bulltrap.
I think we are currently in a perfect buy zone and we have amazing 20% until target 1 from here (6800 Sats) and amazing 55% until target 2 (8800 Sats).
Currently it looks like it´s holding support, first four 1h candles are bullish, last one with a solid big body and indicators looking good. And in 2-3 hours we will have new buyers at the table.
Let´s keep fingers crossed. If it holds support it can just move up from here and we are all in the green tomorrow. I rather see it moving more up in the right direction, so I think we will be able to enjoy the large upside tomorrow.
Thanks for stopping by and may the profits be with you! ;-))
Investra
Your likes are appreciated!
Generally a big coin with great future potential, so if you are looking for a good investment longterm, her it is. Besides Stellar it is one of my favourite coins at the moment. Solid project and background, a huge community, very liquid and amazing to trade also with bigger positions.
But where are we short-term trading wise? At a very crucial point!
ADA has been very weak on the weekend and espacialy today, same as almost all other coins, low volumes, everyone who is day-trading seems to be back to fiat over the weekend.
ADA is currently crawling around the support, with very little momentum and it will either be falling through support or will go up from here. It is in a crucial zone, cos if it falls through support the next support is at 5000ish which would be a 12.5% drop, so nothing we would enjoy!
But there is hope! Let´s have look at the indicators (1h chart):
MACD: is currently crossing and introduces the next wave up
RSI: is oversold and pointing up and supports upward movement impression
Stoch RSI: also moving upward
DMI: very little momentum on sundays crypto blues, but bulls still in lead
So the next hours will be crucial, in about 2-3 hours Asian trading session starts and this will surely give another push higher, if it hasn´t fallen through support until then, cos nobody will buy into a bear flag/bulltrap.
I think we are currently in a perfect buy zone and we have amazing 20% until target 1 from here (6800 Sats) and amazing 55% until target 2 (8800 Sats).
Currently it looks like it´s holding support, first four 1h candles are bullish, last one with a solid big body and indicators looking good. And in 2-3 hours we will have new buyers at the table.
Let´s keep fingers crossed. If it holds support it can just move up from here and we are all in the green tomorrow. I rather see it moving more up in the right direction, so I think we will be able to enjoy the large upside tomorrow.
Thanks for stopping by and may the profits be with you! ;-))
Investra
Your likes are appreciated!
Note
Break out confirmed, we are quickly moving towards 6000, so for me ADA would be a trade recommendation right here!Note
mooning! we are above 6050 sats, will be a good day for ADANote
Break out to 6200 Sash, currently on asian morning session pump
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