TLDR:
• ADA is sending mixed signals that make it a low confidence trade, IMO.
• Overall, it is still in consolidation without a sign of bullish breakout, yet.
Positive Signals:
1. ChoCh on the 4H timeframe
2. ADA climbed above the 21 & 50 4H EMA on the 4H timeframes.
Negative Signals:
1. Bearish divergence on the 4H RSI.
2. PA is corrective without a clear rejection of lower prices.
3. Low volume is typical of a consolidation, not a breakout.
Next Steps:
• IMO, ADA will continue to consolidate before it pushes to the upside.
• Even if we consider that ADA achieved ChoCh on the 4H another pullback to the demand zone is still likely, IMO.
• A push up above 0.29 USD with volume will make me more confident about a breakout.
NFA.
What do you think? Please share in the comments.
Best wishes to all.
• ADA is sending mixed signals that make it a low confidence trade, IMO.
• Overall, it is still in consolidation without a sign of bullish breakout, yet.
Positive Signals:
1. ChoCh on the 4H timeframe
2. ADA climbed above the 21 & 50 4H EMA on the 4H timeframes.
Negative Signals:
1. Bearish divergence on the 4H RSI.
2. PA is corrective without a clear rejection of lower prices.
3. Low volume is typical of a consolidation, not a breakout.
Next Steps:
• IMO, ADA will continue to consolidate before it pushes to the upside.
• Even if we consider that ADA achieved ChoCh on the 4H another pullback to the demand zone is still likely, IMO.
• A push up above 0.29 USD with volume will make me more confident about a breakout.
NFA.
What do you think? Please share in the comments.
Best wishes to all.
