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In this analysis, I want to review the ADA coin for you—one of the most popular and long-standing cryptocurrencies, currently ranked 10th on CoinMarketCap with a market cap of $22 billion.
📅 Daily Time Frame
In the daily time frame, as you can see, after ADA’s previous uptrend, the price moved upward and, after breaking 0.4322, continued its bullish leg up to 1.1325.
✔️ Following this move, the price entered a corrective phase, and during its first pullback, it performed a time-based correction down to 0.8161, but after breaking this area, deeper corrections began.
📰 Coinciding with the news of the creation of a crypto reserve in the U.S., this coin—alongside other coins in that basket—saw another bullish move that once again pushed the price up to 1.1325. However, within a few days, it reversed the entire bullish move and dropped to the 0.5579 zone.
📈 During this correction, we can draw a trendline from the price lows. As you can see, the price has reacted well to this trendline, and the overlap of this line with the 0.5579 zone has created a strong support, causing the price to bounce and show some bullish momentum.
📊 Currently, after bouncing from this zone, the price initially moved up strongly and with high volume. However, over the past few days—especially with the weekend—momentum has decreased, and volume has dropped as well.
📉 If this decline in volume continues, the price won’t be able to rise further, and bearish momentum could gradually return. If the 0.5579 support breaks, the price could continue moving downward.
💥 The downward trendline currently in play could act as a dynamic resistance during the next bullish legs.
🔼 For a bullish move, the key is the RSI divergence. This positive divergence, now visible with three higher lows, could support a bullish reversal. The trigger for this divergence is a break above the 50 level on RSI.
🛒 If RSI stabilizes above this level, bullish momentum will likely enter the market. In that case, breaking the 0.8161 trigger would offer a long entry or spot buy opportunity. The main trigger for price, however, remains the break of 1.1325, which is ADA's key resistance level.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
In this analysis, I want to review the ADA coin for you—one of the most popular and long-standing cryptocurrencies, currently ranked 10th on CoinMarketCap with a market cap of $22 billion.
📅 Daily Time Frame
In the daily time frame, as you can see, after ADA’s previous uptrend, the price moved upward and, after breaking 0.4322, continued its bullish leg up to 1.1325.
✔️ Following this move, the price entered a corrective phase, and during its first pullback, it performed a time-based correction down to 0.8161, but after breaking this area, deeper corrections began.
📰 Coinciding with the news of the creation of a crypto reserve in the U.S., this coin—alongside other coins in that basket—saw another bullish move that once again pushed the price up to 1.1325. However, within a few days, it reversed the entire bullish move and dropped to the 0.5579 zone.
📈 During this correction, we can draw a trendline from the price lows. As you can see, the price has reacted well to this trendline, and the overlap of this line with the 0.5579 zone has created a strong support, causing the price to bounce and show some bullish momentum.
📊 Currently, after bouncing from this zone, the price initially moved up strongly and with high volume. However, over the past few days—especially with the weekend—momentum has decreased, and volume has dropped as well.
📉 If this decline in volume continues, the price won’t be able to rise further, and bearish momentum could gradually return. If the 0.5579 support breaks, the price could continue moving downward.
💥 The downward trendline currently in play could act as a dynamic resistance during the next bullish legs.
🔼 For a bullish move, the key is the RSI divergence. This positive divergence, now visible with three higher lows, could support a bullish reversal. The trigger for this divergence is a break above the 50 level on RSI.
🛒 If RSI stabilizes above this level, bullish momentum will likely enter the market. In that case, breaking the 0.8161 trigger would offer a long entry or spot buy opportunity. The main trigger for price, however, remains the break of 1.1325, which is ADA's key resistance level.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
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🏆 Best Crypto Exchange: bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
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.
💥 Don’t Miss Out!
🏆 Best Crypto Exchange: bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
🏆 Best Crypto Exchange: bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
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.