28……….. More on that in a mo.
The Lagging Span (Chikou Span) is still indicating momentum is sideways.
The RSI is also indicting momentum is sideways with a slight slope downwards.
ADA is still below its Conversion Line (Tenkan Sen) so we eventually need to cross back over this and turn it into strong support.
The ADX DI SMA is indicating ADA is still in an uptrend with the +DI (Green Line) at 16.5 & still above its -DI (Red Line) which is at 9. The ADX (Yellow Line) is at 36.5 and curving up and looks like it will soon cross back over its 10 Period SMA (White Line) which is at 39.4.
ADA is still above its Bollinger Bands Middle Band Basis which is a 20 Period MA.
We have a potential Bollinger Bands Squeeze Pinching on the daily chart. If you scroll back, you can see that after the Bollinger Band Squeeze & Pinch on the 31st Jan ADA then shot up from $0.3 to over $1.
Obviously nothing is set in stone, but if history repeats itself like we saw on 3rd Jan & the 1st Feb after those Bollinger Band Squeezes & Pinches, then we could potentially see another massive move upwards followed by a 3 or 4 weeks of consolidation & so on.
So! 28!…….. Thats right 28! ADA has CLOSED 28 DAILY CANDLES IN A ROW above its Pitchfork Median Line. THIS IS VERY IMPORTANT! You may not believe in Technical analysis and may think I’m talking complete bollox but you have to believe what your eyes see, so just look at the above chart and count the daily candles from the 10th Feb that has closed above the Pitchfork Median Line that i have had on my ADA charts for a few weeks now……… thats right, 28 daily candles. I keep trying to drill this into you because it is important and will stop you from being shaken out, “It’s not where the candle wicks to, but where the candle closes that’s important”.
ADA could potentially keep walking up this major Pitchfork Support Line, but I’m more inclined to think that history will soon repeat itself and we will soon see a massive move upwards after this Bollinger Bands Squeeze runs its course........ which could be sooner then you think.
I hope this is helpful with your trading & hodl-ing, good luck 👍
The Lagging Span (Chikou Span) is still indicating momentum is sideways.
The RSI is also indicting momentum is sideways with a slight slope downwards.
ADA is still below its Conversion Line (Tenkan Sen) so we eventually need to cross back over this and turn it into strong support.
The ADX DI SMA is indicating ADA is still in an uptrend with the +DI (Green Line) at 16.5 & still above its -DI (Red Line) which is at 9. The ADX (Yellow Line) is at 36.5 and curving up and looks like it will soon cross back over its 10 Period SMA (White Line) which is at 39.4.
ADA is still above its Bollinger Bands Middle Band Basis which is a 20 Period MA.
We have a potential Bollinger Bands Squeeze Pinching on the daily chart. If you scroll back, you can see that after the Bollinger Band Squeeze & Pinch on the 31st Jan ADA then shot up from $0.3 to over $1.
Obviously nothing is set in stone, but if history repeats itself like we saw on 3rd Jan & the 1st Feb after those Bollinger Band Squeezes & Pinches, then we could potentially see another massive move upwards followed by a 3 or 4 weeks of consolidation & so on.
So! 28!…….. Thats right 28! ADA has CLOSED 28 DAILY CANDLES IN A ROW above its Pitchfork Median Line. THIS IS VERY IMPORTANT! You may not believe in Technical analysis and may think I’m talking complete bollox but you have to believe what your eyes see, so just look at the above chart and count the daily candles from the 10th Feb that has closed above the Pitchfork Median Line that i have had on my ADA charts for a few weeks now……… thats right, 28 daily candles. I keep trying to drill this into you because it is important and will stop you from being shaken out, “It’s not where the candle wicks to, but where the candle closes that’s important”.
ADA could potentially keep walking up this major Pitchfork Support Line, but I’m more inclined to think that history will soon repeat itself and we will soon see a massive move upwards after this Bollinger Bands Squeeze runs its course........ which could be sooner then you think.
I hope this is helpful with your trading & hodl-ing, good luck 👍
Note
Quick update:ADA has now closed 30 daily candles in a row above its Pitchfork Median Line since 10th February. 👍
Note
Update using the 12hr:ADA has crossed back under its Pitchfork Median Line on the Daily chart. However, ADA is still above its Pitchfork Median Line on the 12hr chart. “Why” i hear you ask, well because you have to correctly line up Pitchforks for each timeframe as pivot points will be different on various timeframes.
The 12hr chart is a crucial one to watch because we are close to the Ichimoku Cloud Leading Span A (Senkou Span A) for this timeframe. ADA is still above its Ichimoku Cloud which is the Bullish Zone. We have to keep a close eye on the price if its drops into the Cloud (Kumo) Equilibrium Zone and heads or the Leading Span B (Senkou Span B) support, but i don’t think it will drop that far.
The Lagging Span (Chikou Span) is inside the price from 30 periods ago indicating the market is potentially indecisive.
ADA is below its Ichimoku Conversion Line (Tenkan Sen) and Base Line (Kijun Sen) which we need to cross back over and turn into support.
ADA is also under its Bollinger Bands Middle Band Basis on the 12hr which we also need to cross back over and turn into support.
RSI is indicating momentum is downwards at the moment.
The ADX DI SMA is showing that the -DI (Red Line) is at 16.6 and has crossed back over the +DI (Green Line) at 12.7 indicating a slight downtrend for this timeframe. The Trend is very low strength withe the ADX (Yellow Line) which is at 8.2.
Volume is still relatively low so i don’t believe that this is a start of a longterm downtrend. If ADA was going down on massive volume, that would be another story, but it’s not.
Worthy of note is that Bitcoin has a potential Double Top on the Daily chart so we need to keep an eye on that as well as there could be a massive BTC drop ahead. But it may not drop because the Volume is relatively low as well.
I am still longterm bullish on Cardano ADA and VeChain VET 😜 so all i can say is that if you wanted to buy ADA at a lower price, then now is your chance.
I hope this is helpful. Good luck 👍
Note
Note
Quick update:
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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.