ADA/USD - Sideways Today, but 1.48-1.58 This Weekend?
Hello friends!
There are many new candles, so I will break my update into two or three posts. This one will focus just on the short-term of the daily and a peek at tomorrow. The others will look at near to mid-term and macro.
ADA has continued to climb closer to 1.40, despite a mini-shakeout yesterday that brought prices down to 1.28 temporarily. Today, price action will be ranged, mostly between 1.35 and 1.40, but a break above 1.40 may be near.
Intraday
Summary: Mostly sideways between 1.35 and 1.40 with upside bias. 1.30 test possible also.
3H - First 3 hours of the day prices look to fall and test 1.35, despite rising indicators, before rising again. LSMA is bottoming out around level 50 while a rising RSI nears level 50. With green EMA above these two, upward momentum is in control, but green under white means no new highs are likely
6H - First 6 hours of the day are a mixed bag that will likely lead to ranged action with a bias to the upside. LSMA looks to be forming a bottom despite RSI falling. Green EMA has crossed above the RSI putting upward momentum in control, but white EMA is still below level 50. A test of 1.40 is possible, as is a test of 1.35. Green higher than white could lead to more upside later in the day.
12H - First half of the day is likely sideways price action. RSI has started to tip down while white EMA is below level 50, indicating downward pressure. However, LSMA is rising, leading to expanding B-Bands. If prices rise, green EMA could start to take advantage of the expanding bands and allow prices to rise further. White EMA could bounce back toward level 50 by the end of the day, leading to a another test of 1.40, but if price action is down, another test of 1.30 could be in store.
1D - Yesterday's shakeout cooled upward momentum, but it is still in control. With a falling white EMA and slight rise to other indicators, sideways action is in store for the day. RSI is crossing above level 50 and LSMA is still rising, which remains bullish. Expect prices to remain between 1.35 and 1.40 today.
A pattern may be forming in the daily that would allow sustained upward momentum to new highs in the next few days. If the green EMA can start to go higher than the white EMA, higher highs can be expected. If the RSI and LSMA continue to rise, a break above 1.40 could push prices towards the upper white B-Band (1.48) and continue up from there.
The 3D chart (2 days left) is looking very promising with green and white EMA above level 50. If ADA can hold 1.35, the candle will close above level 50. If so, it would be probable that prices would rise to the yellow basis in the next candle (1.58).
Good luck and good fortune!
There are many new candles, so I will break my update into two or three posts. This one will focus just on the short-term of the daily and a peek at tomorrow. The others will look at near to mid-term and macro.
ADA has continued to climb closer to 1.40, despite a mini-shakeout yesterday that brought prices down to 1.28 temporarily. Today, price action will be ranged, mostly between 1.35 and 1.40, but a break above 1.40 may be near.
Intraday
Summary: Mostly sideways between 1.35 and 1.40 with upside bias. 1.30 test possible also.
3H - First 3 hours of the day prices look to fall and test 1.35, despite rising indicators, before rising again. LSMA is bottoming out around level 50 while a rising RSI nears level 50. With green EMA above these two, upward momentum is in control, but green under white means no new highs are likely
6H - First 6 hours of the day are a mixed bag that will likely lead to ranged action with a bias to the upside. LSMA looks to be forming a bottom despite RSI falling. Green EMA has crossed above the RSI putting upward momentum in control, but white EMA is still below level 50. A test of 1.40 is possible, as is a test of 1.35. Green higher than white could lead to more upside later in the day.
12H - First half of the day is likely sideways price action. RSI has started to tip down while white EMA is below level 50, indicating downward pressure. However, LSMA is rising, leading to expanding B-Bands. If prices rise, green EMA could start to take advantage of the expanding bands and allow prices to rise further. White EMA could bounce back toward level 50 by the end of the day, leading to a another test of 1.40, but if price action is down, another test of 1.30 could be in store.
1D - Yesterday's shakeout cooled upward momentum, but it is still in control. With a falling white EMA and slight rise to other indicators, sideways action is in store for the day. RSI is crossing above level 50 and LSMA is still rising, which remains bullish. Expect prices to remain between 1.35 and 1.40 today.
A pattern may be forming in the daily that would allow sustained upward momentum to new highs in the next few days. If the green EMA can start to go higher than the white EMA, higher highs can be expected. If the RSI and LSMA continue to rise, a break above 1.40 could push prices towards the upper white B-Band (1.48) and continue up from there.
The 3D chart (2 days left) is looking very promising with green and white EMA above level 50. If ADA can hold 1.35, the candle will close above level 50. If so, it would be probable that prices would rise to the yellow basis in the next candle (1.58).
Good luck and good fortune!
Related publications
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.