Apologies for the late update, it's been another busy couple of days. Here's a quick ADA update for you. ADA made a new all time high, Mary got Hard Forked and we also we made Ethereum Maxis sh*t the bed for a day, so all in all its been a pretty good couple of days, & ADA is still looking great for the longterm.
At the moment, Volume is slowing and has been since the 27th Feb.
RSI has dropped out of the overbought zone.
The Parabolic SAR is indicating we are still in an uptrend for this timeframe, but be aware that it is a lagging indicator so it should not be used as a standalone indicator.
The Ichimoku Cloud Lagging Span (Chikou Span) is indicating momentum is sloping downwards with the RSI confirming this. The Price is still above its Conversion Line (Tenkan Sen) and Base Line (Kijun Sen) levels. The Lagging Span (Chikou Span) is also quite a distance away from crossing back under its price from 30 periods ago on this timeframe so there’s no fee of that happening anytime soon.
The Bollinger Bands are indicating volatility is ranging sideways so we may actually see a Bollinger Band Squeeze over the next couple of days/weeks before any next potential breakout. The price is also trading above its Bollinger Bands Middle Band Basis.
The ADX DI SMA is indicating that the trend strength is sideways with the ADX (Yellow Line) at 42.8 still underneath its 10 period SMA (White Line) which is at 50.5. The +DI (Green Line) is at 22.2 sloping slightly downwards but still above its -DI (Red Line) which is at 8.2.
Worthy of note, is that ADA is also above its 8EMA & 10EMA levels on the daily but i haven’t added these onto this chart.
The price is still above its Pitchfork Median Line on the daily chart, and as you can see, the price has CLOSED 20 DAILY CANDLES IN A ROW above its Pitchfork Median Line since the 10th Feb. This is important. You don’t have to remember your wedding anniversary but you DO have to remember this. This new daily candle will close red, but it will still close well above its Pitchfork Median Line
A lot of people are posting that ADA will drop well below $1……. i don’t know if they are serious, having a laugh, autistic or just Ethereum Maxi’s who are trying to scare you to sell. Can ADA drop? Yes of course it can. Is it gonna drop under $1 AND STAY THERE??? Nah, if it does drop, it won’t stay there for long. Looking at my daily chart, you can clearly see that the price needs to close UNDER its Pitchfork Median Line before you should even consider that ADA will STAY BELOW $1. As you can see, ADA has already dropped below its Pitchfork Median Line on the 13th, 14th, 15th, 16th, 17th, 19th, 22nd, 23rd and 24th Feb, but, the price did not stay below the Pitchfork Median Line and the price soon rebounded…… rebounded 9 times…….. and also made a new all time high. If there is more of a drastic drop, then just use it to accumulate more ADA at a cheaper price.
Please remember what i keep stating because it is IMPORTANT!…….. It is not where the candle wicks to, but WHERE THE CANDLE CLOSES that important.
Also worthy of note is that over 70% of ADA has been taken off the market due to staking.
Also remember that trading sideways is done within a range, not at a constant level.
So all in all, from my opinion, ADA is still looking great for the longterm 👍. I hope you have all found this helpful & good luck 👍
Actually…. it’s probably best to remember your wedding anniversary as well 👍
Also, apologies if my sense of humour offends anyone…….. apart from Ethereum Maxis of course 👍
At the moment, Volume is slowing and has been since the 27th Feb.
RSI has dropped out of the overbought zone.
The Parabolic SAR is indicating we are still in an uptrend for this timeframe, but be aware that it is a lagging indicator so it should not be used as a standalone indicator.
The Ichimoku Cloud Lagging Span (Chikou Span) is indicating momentum is sloping downwards with the RSI confirming this. The Price is still above its Conversion Line (Tenkan Sen) and Base Line (Kijun Sen) levels. The Lagging Span (Chikou Span) is also quite a distance away from crossing back under its price from 30 periods ago on this timeframe so there’s no fee of that happening anytime soon.
The Bollinger Bands are indicating volatility is ranging sideways so we may actually see a Bollinger Band Squeeze over the next couple of days/weeks before any next potential breakout. The price is also trading above its Bollinger Bands Middle Band Basis.
The ADX DI SMA is indicating that the trend strength is sideways with the ADX (Yellow Line) at 42.8 still underneath its 10 period SMA (White Line) which is at 50.5. The +DI (Green Line) is at 22.2 sloping slightly downwards but still above its -DI (Red Line) which is at 8.2.
Worthy of note, is that ADA is also above its 8EMA & 10EMA levels on the daily but i haven’t added these onto this chart.
The price is still above its Pitchfork Median Line on the daily chart, and as you can see, the price has CLOSED 20 DAILY CANDLES IN A ROW above its Pitchfork Median Line since the 10th Feb. This is important. You don’t have to remember your wedding anniversary but you DO have to remember this. This new daily candle will close red, but it will still close well above its Pitchfork Median Line
A lot of people are posting that ADA will drop well below $1……. i don’t know if they are serious, having a laugh, autistic or just Ethereum Maxi’s who are trying to scare you to sell. Can ADA drop? Yes of course it can. Is it gonna drop under $1 AND STAY THERE??? Nah, if it does drop, it won’t stay there for long. Looking at my daily chart, you can clearly see that the price needs to close UNDER its Pitchfork Median Line before you should even consider that ADA will STAY BELOW $1. As you can see, ADA has already dropped below its Pitchfork Median Line on the 13th, 14th, 15th, 16th, 17th, 19th, 22nd, 23rd and 24th Feb, but, the price did not stay below the Pitchfork Median Line and the price soon rebounded…… rebounded 9 times…….. and also made a new all time high. If there is more of a drastic drop, then just use it to accumulate more ADA at a cheaper price.
Please remember what i keep stating because it is IMPORTANT!…….. It is not where the candle wicks to, but WHERE THE CANDLE CLOSES that important.
Also worthy of note is that over 70% of ADA has been taken off the market due to staking.
Also remember that trading sideways is done within a range, not at a constant level.
So all in all, from my opinion, ADA is still looking great for the longterm 👍. I hope you have all found this helpful & good luck 👍
Actually…. it’s probably best to remember your wedding anniversary as well 👍
Also, apologies if my sense of humour offends anyone…….. apart from Ethereum Maxis of course 👍
Note
Note
Quick ADA update. If we look at the 3 day chart, ADA has dipped because of its Bearish Divergence with the Price and the RSI. So this 3 day candle will 99.9% end in the red today. BTC also has Bearish Divergence.
At the moment, the Price has found support from its Bollinger Bands Middle Band Basis on the Daily Chart so hopefully we can close above this level.
The RSI has also dropped out of the overbought zone of the 3 day chart.
I mentioned above that there is always a possibility that ADA may dip and retest the Pitchfork Median Line Support.
ADA has dipped below its Pitchfork Median Line a few times since the 10th Feb but has not closed a daily candle below it since then, so if ADA does drop lower, there may be really good opportunities to acquire more ADA at a cheaper price if it wicks downwards. As i keep mentioning, it's not where the candle wicks to, but where the candle closes that's important.
I hope this is helpful & good Luck 👍
Note
The Pitchfork Median Line is still holding strong on the daily chart 💪The Price is also back above its Bollinger Bands Middle Band Basis & it's Ichimoku Cloud Conversion Line (Tenkan Sen) on the daily chart 👍
It looks hopeful that we'll close this daily candle green & more importantly above the Pitchfork Median Line for the 24 time in a row 👍 I hope this is helpful 👍
Note
Quick update:Price is still above its Pitchfork Median Line and as i said in a post a few weeks back, ADA is walking this support line upwards. Worthy of note is that ADA has now closed 25 DAILY CANDLES above its Pitchfork Median Line
Volume is low at the moment
Lagging Span (Chikou Span) is indicating sideways momentum
RSI is also indicating sideways momentum
ADX DI SMA is indicting we are still in an uptrend but under its 10 period SMA. We will see renewed upwards strength one the ADX (Yellow Line) crosses back over its 10 Period SMA (White Line) with the +DI (Green Line) still above its -DI (Red Line)
Price is below its Conversion Line (Tenkan Sen), we need to eventually close above this
Price is still above its Bollinger Bands Middle Bands Basis. Looks like we will see a Bollinger Bands Squeeze before the next breakout like we saw on the 25th Jan to the 1st Feb
Basically everything is pointing to consolidation at the moment. A few other traders are saying ADA is gonna drop, but as i keep saying, it's not where the Candle wicks to but where the CANDLE CLOSES that counts, and ADA has closed 25 DAILY CANDLES IN A ROW above its Pitchfork Median Line, that is the key level & so long as it doesn't close a daily candle below it, then all is well & ADA will just keep consolidating walking the line upwards until the next breakout.
I hope this is helpful
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.