What to Expect? Could this be the bottom?
Hey guys, this is Julie =D
In my first post here, I'm going to analyze ADA. I bought this pretty thing last month and it has been dropping ever since, so I have to talk about it.
Facts:
Ada has been in a clear bear trend since September, and has broken all support levels on its way.
The 21 Exponential Moving Average (EMA) is still above the price, which is not a good sign either.
Now It is in a supply zone (pink line), which seems to be holding Ada.
So what I do think about ADA -
I believe Ada could fall further, but I don't believe it would fall below the pink line. I don't think it would have the strength to break below that, because it is a strong resistance level.
And if it does fall, I think it would be a great time to buy.
I think ADA will finally go up when we see a reversal in the daily chart, a bullish pivot would be really great (I hope to see this)!
I like this crypto and believe in its potential, so I'm holding it.
Let's wait for a reversal and a good confirmation before buying.
And that's it! Thanks for reading my analysis.
I'm still learning Technical Analysis (and english), so be kind xD
Have a good day.
In my first post here, I'm going to analyze ADA. I bought this pretty thing last month and it has been dropping ever since, so I have to talk about it.
Facts:
Ada has been in a clear bear trend since September, and has broken all support levels on its way.
The 21 Exponential Moving Average (EMA) is still above the price, which is not a good sign either.
Now It is in a supply zone (pink line), which seems to be holding Ada.
So what I do think about ADA -
I believe Ada could fall further, but I don't believe it would fall below the pink line. I don't think it would have the strength to break below that, because it is a strong resistance level.
And if it does fall, I think it would be a great time to buy.
I think ADA will finally go up when we see a reversal in the daily chart, a bullish pivot would be really great (I hope to see this)!
I like this crypto and believe in its potential, so I'm holding it.
Let's wait for a reversal and a good confirmation before buying.
And that's it! Thanks for reading my analysis.
I'm still learning Technical Analysis (and english), so be kind xD
Have a good day.
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