ADA/USDT
1D/4H Charts
ADA has broken out of downside resistance from the correction wave, created a bull flag bullish pattern and resting on major trend channel of liquidity. Weekly candlesticks showing 3 weekly doji indecision candles, indicating an equilibrium between buyers and sellers usually prior to a move in the direction of the trend which is up. The correction pulled into the 0.5-0.618 golden fib and into a demand zone from the prior ATH level having flipped resistance into support as seen earlier on the chart in phases of the uptrend. Volume picking up on the daily breaking out the volume MA.
Currently within a contracting triangle making consecutive higher lows and higher highs as we get into the decision zone.
Using fib projection on the correction wave, the next move up would see price push to the 1.272 - 1.618 fib levels respectively
MACD on daily showing bullish crossover, and divergence of MAs, indicating momentum is starting to pick up. Would like to see it cross over the centreline with stronger momentum candles on the histogram showing a clean momentum wave as shown on the prior move up.
1D/4H Charts
ADA has broken out of downside resistance from the correction wave, created a bull flag bullish pattern and resting on major trend channel of liquidity. Weekly candlesticks showing 3 weekly doji indecision candles, indicating an equilibrium between buyers and sellers usually prior to a move in the direction of the trend which is up. The correction pulled into the 0.5-0.618 golden fib and into a demand zone from the prior ATH level having flipped resistance into support as seen earlier on the chart in phases of the uptrend. Volume picking up on the daily breaking out the volume MA.
Currently within a contracting triangle making consecutive higher lows and higher highs as we get into the decision zone.
Using fib projection on the correction wave, the next move up would see price push to the 1.272 - 1.618 fib levels respectively
MACD on daily showing bullish crossover, and divergence of MAs, indicating momentum is starting to pick up. Would like to see it cross over the centreline with stronger momentum candles on the histogram showing a clean momentum wave as shown on the prior move up.
