its hard to say for sure what ADA wants to do, overall market is shifting right as we speak, I couldn't tell you what she wants... I'd like to say its going to cool off but she's one of those players that has kind of been overlooked and overshadowed and in a sense a contender in an underdog situation.... ADA has Alonzo update coming up.
one of the main reason ADA has been over looked is just the general idea that its a project with a long complex roadmap ahead of itself... we'll really only get a glimpse into how successful and put speculation to work when we get to see the Alonzo update.
from a technical side of things... if we look at indicators
RSI is cooking... CMF cooking MACD is cooking... there is some divergences among the charts and the first place I would like to raise a flag of caution is the overall volume.. price moving up with volume moving down is never good. A daily chart view tells us a different story and how I interpret the daily chart is its going to try and maintain price.
I think we'll see $1.20-1.30 one last time... and really it could go as low as $1.05-$1.15 you can see its had quite the bonding moment in that zone.
also the last indicators worth mentioning would be the EMAs... the longer price hold at the current levels the higher the bottom comes up to meet the price... someone is always buying.. someone is always selling and someone is always holding.... off the weekly I suspect we'll see price come down and meet the red line.
one of the main reason ADA has been over looked is just the general idea that its a project with a long complex roadmap ahead of itself... we'll really only get a glimpse into how successful and put speculation to work when we get to see the Alonzo update.
from a technical side of things... if we look at indicators
RSI is cooking... CMF cooking MACD is cooking... there is some divergences among the charts and the first place I would like to raise a flag of caution is the overall volume.. price moving up with volume moving down is never good. A daily chart view tells us a different story and how I interpret the daily chart is its going to try and maintain price.
I think we'll see $1.20-1.30 one last time... and really it could go as low as $1.05-$1.15 you can see its had quite the bonding moment in that zone.
also the last indicators worth mentioning would be the EMAs... the longer price hold at the current levels the higher the bottom comes up to meet the price... someone is always buying.. someone is always selling and someone is always holding.... off the weekly I suspect we'll see price come down and meet the red line.
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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.