Long

ADA - short term outlook

Updated

ADA is still consolidating & in a Symmetrical Triangle on the 1hr chart. At the moment of Typing this, the Ichimoku Conversion Line (Blue) is still above the Ichimoku Base Line (Orange). ADA is also testing its lower end of the Symmetrical Triangle and its Ichimoku Cloud support, if that fails, then ADA may dip to its 2nd Ichimoku Cloud support. Again, there could be possible lower entries to accumulate more ADA before the next massive rise. If ADA does dip more, then i don't think it'll dip past $0.28 which is its 2nd Ichimoku Cloud Support. If it does, then the lowest it could possible drop is about $0.23 but i cannot see that happening. One thing to note is that the ADX line is at 26 and about to cross over its 10 Period SMA which indicates the uptrend is getting stronger so we could see this period of consolidation come to an end and have a renewed upward price movement soon., When ADA shoots up to $0.6, people will be pissed they didn't accumulate more at $0.3. Good Luck 👍

Note

My bad: i forgot to add that we also need the +DI (Green line) to cross back over the -DI (Red line) for confirmation of a renewed uptrend for the short-term.

TradingThroughTheLens

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