ADA 4h stuck at fib resistance temporarily
Updated
Looks like ADA has hit the .618 fib extension resistance line and gotten itself stuck forming a doji. This in itself is somewhat surprising, because normally a big move like that sees a pretty quick retracement. Trading volume is still relatively high, considering the price being so firmly planted at $1.38. It's probably not going to be there long, but the direction we go from here will likely depend on what type of action is expected on Coinbase Pro tomorrow when trading goes live. It could be a 'buy the rumor, sell the news' event, where everyone has stocked up to dump on unsuspecting traders who think the price will skyrocket once
trading is live on Coinbase Pro. Right now, the tug of war seems evenly matched between bears and bulls. The RSI is also pretty heated up, flying high into overbought territory.
Staying neutral until the RSI cools off and the winner of the tug o' war is declared.
trading is live on Coinbase Pro. Right now, the tug of war seems evenly matched between bears and bulls. The RSI is also pretty heated up, flying high into overbought territory.
Staying neutral until the RSI cools off and the winner of the tug o' war is declared.
Note
Looks like we have our answer as to whether the Coinbase listing would be a pump or dump event.. lol. there was a massive selloff on the 1m chart dropping price from $1.45 to $1.30 in a matter of seconds. Too bad I didn't have an order placed just in case that happened.
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