ADA PERSONAL ANALYSIS IN THE LONG TERM
Updated
Chart shows common supports and resistances based on the fibonacci and price action. The evaluation for ADA is bearish. The news for the delisting has greatly affected the potential momentum of ADA in the long term, as you can see there are more sharp increases rather than convincingly healthy bullish price action which shows abrupt take-profit orders to come into play and send the price down. The chart price action only STRONG probable support in the 1$ price since it is a "tested" support, however there is also potential to go even lower depending on the market sentiment by then. ADA will need to break above the 1.5$ and maintain itself there to turn bullish.
I do not consider common technical promising applications of such coins as the bias for future raise in price, I only pay attention on its representation in charts since it also lets me confirm how "promising" the application really is, I only trade based on probability and since the chart shows a huge downtrend below the 200 MA, the market is now indeed bearish until proven otherwise at a later point in time.
I do not consider common technical promising applications of such coins as the bias for future raise in price, I only pay attention on its representation in charts since it also lets me confirm how "promising" the application really is, I only trade based on probability and since the chart shows a huge downtrend below the 200 MA, the market is now indeed bearish until proven otherwise at a later point in time.
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Due to the positive news of FED today, the move to the upside is more likely now than approaching the 1$ range however the resistance near the 3$ is still a major resistance until proven otherwise. The delisting also can slow down the progress of ADA in the long term. Happy Longs Everyone!
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