ADAUSDT! The world is waiting and many are giving up hope

3 במאי 2022

ADAUSDT

I was once a believer in ADA and her utility.
But I'm starting to give up hope.
Have I given up? Hmm ... nope, not yet.

Here is a deep dive into the latest TA on ADA.

One upgrade, improvement, Dapp, ... after the other, we've been promised the greatness of ADA but it's all yet to yield any major gains.

Technical Analysis:

Daily Chart

EMA ( Exponential Moving Average ): The EMA's are inverted; literally upside down 200/100/50//20 EMA and pointing downwards! The 20 and 50 EMA made an attempt to turns things back in March 28th but it was short lived. Everything looks doomish but wait a minute maybe not all hope is lost.

TTM Squeeze: TTM is steadily squeezing upward against the tide. Could this mean a stabilization of the downward pressure? Who is buying while the sell volume is high? Let's see the RSI.

RSI: Went as low as 27 (keep in mind that 30 is a great entry point especially when the slow stochastic is pointing up) and now pointing upwards, crossing 32. Soo, is it oversold? Is now a great time to enter?

Fib Levels: .618 ! The war is on! The current candle most hold above this point (.78 cents) or else, we would see ADA at .60 cents.

Candle Stick: Summary of last 5 candles equate to a bearish movement. The last pairs look like a Bearish engulfing

Pattern: Current candle is what we call a Piercing Pattern or Bullish Engulfing. This is bullish. Even better, see that redline... we could have a double bottom forming. The could lead to a bullish price action.

At the moment, I really think, it depends on what happens at this critical point. A failure at .618 would mean that we are going down to .60 cents. If and when it holds hope we can see the price at .97 cents.