ADA/USD - Volatility Today, Rally Losing Steam
Hello friends!
Again, yesterday's forecast missed the mark with prices exceeding 1.30 and attempting to convert resistance to support at 1.40. Thus far, ADA has been rejected three times at 1.40, but has found support at 1.35.
The daily looks up in higher intraday timeframes, but down in lower intraday timeframes, suggesting volatility in the day.
The 12H and 1D charts show the white EMA much higher than the green and the LSMA under the RSI. In the case of the LSMA, it currently looks unlikely to cross above level 50, which will keep prices from rising much higher than we have seen recently (1.44).
A downward trend like we say around June 15 could start to form in the next 24 hours, testing support at 1.30 and resuming a downward trend. The new 5D candle suggests a slowing of the bear trend since early June, but RSI and LSMA are continuing their shallow descent and downward momentum is still in control. Prices are likely to move towards the lower white B-band (1.21) in the next 5 days, unless a rally pumps up prices.
In general, prices need to be above 1.40 or 1.45 and stay there for several days to turn around the current trends.
Also, do not forget that today's BTC futures and options expiration could introduce additional volatility.
Intraday
Summary: Chance to test 1.40, but upward momentum slowing - prices could fall back to 1.30 or lower
3H - In the second 3H candle of the day, green EMA may cross below level 50 while RSI is less than level 80. If it closes at those levels, prices can be expected to fall towards 1.30
6H - If downward momentum is in control early in the day, the green EMA could close below the RSI (and possibly LSMA) mid-day. This would indicate that downward momentum is in control and prices will want to move towards the yellow basis (1.28). However, the rising RSI and LSMA have not yet topped and prices could again test 1.40.
12H - White EMA is falling while green EMA is flat. This suggest that prices will move sideways around the 1.35 level. The rising RSI could help push prices up to test 1.40 and possibly above to 1.45. With the LSMA only slightly rising and lower than the RSI, B-bands are likely to narrow, and there is a growing chance that it will not cross above level 50 before the white and green EMAs drop to/below level 50 in the next 3-4 candles.
1D - White and green EMA are both above level 50. If today's candle closes at these levels, tomorrow prices could be expected to rise to test 1.40 and possibly go above to 1.43 or higher. A test of 1.40 is possible today, but the rally of the last two days may soon come to an end. The green EMA is well below the white EMA while RSI and LSMA are still very low. RSI has crossed above LSMA, and LSMA is only slightly turning up. This means that B-bands are likely to stay at their current width and that the LSMA coming up to level 50 is unlikely in the next 5 days. This will act as drag on prices and pull them lower, most likely. A chance of prices being down for the day, perhaps to 1.30 or lower is quite possible.
New 5D chart (as discussed above)
Good luck and good fortune!
Again, yesterday's forecast missed the mark with prices exceeding 1.30 and attempting to convert resistance to support at 1.40. Thus far, ADA has been rejected three times at 1.40, but has found support at 1.35.
The daily looks up in higher intraday timeframes, but down in lower intraday timeframes, suggesting volatility in the day.
The 12H and 1D charts show the white EMA much higher than the green and the LSMA under the RSI. In the case of the LSMA, it currently looks unlikely to cross above level 50, which will keep prices from rising much higher than we have seen recently (1.44).
A downward trend like we say around June 15 could start to form in the next 24 hours, testing support at 1.30 and resuming a downward trend. The new 5D candle suggests a slowing of the bear trend since early June, but RSI and LSMA are continuing their shallow descent and downward momentum is still in control. Prices are likely to move towards the lower white B-band (1.21) in the next 5 days, unless a rally pumps up prices.
In general, prices need to be above 1.40 or 1.45 and stay there for several days to turn around the current trends.
Also, do not forget that today's BTC futures and options expiration could introduce additional volatility.
Intraday
Summary: Chance to test 1.40, but upward momentum slowing - prices could fall back to 1.30 or lower
3H - In the second 3H candle of the day, green EMA may cross below level 50 while RSI is less than level 80. If it closes at those levels, prices can be expected to fall towards 1.30
6H - If downward momentum is in control early in the day, the green EMA could close below the RSI (and possibly LSMA) mid-day. This would indicate that downward momentum is in control and prices will want to move towards the yellow basis (1.28). However, the rising RSI and LSMA have not yet topped and prices could again test 1.40.
12H - White EMA is falling while green EMA is flat. This suggest that prices will move sideways around the 1.35 level. The rising RSI could help push prices up to test 1.40 and possibly above to 1.45. With the LSMA only slightly rising and lower than the RSI, B-bands are likely to narrow, and there is a growing chance that it will not cross above level 50 before the white and green EMAs drop to/below level 50 in the next 3-4 candles.
1D - White and green EMA are both above level 50. If today's candle closes at these levels, tomorrow prices could be expected to rise to test 1.40 and possibly go above to 1.43 or higher. A test of 1.40 is possible today, but the rally of the last two days may soon come to an end. The green EMA is well below the white EMA while RSI and LSMA are still very low. RSI has crossed above LSMA, and LSMA is only slightly turning up. This means that B-bands are likely to stay at their current width and that the LSMA coming up to level 50 is unlikely in the next 5 days. This will act as drag on prices and pull them lower, most likely. A chance of prices being down for the day, perhaps to 1.30 or lower is quite possible.
New 5D chart (as discussed above)
Good luck and good fortune!
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