ADA/USD - Back down below 1.40, RISK of drop to 1.20

Hello friends!

Yesterday was more exciting than expected. Prices were only able to rally up to 1.87 before starting a sustained downward move as low as 1.32 before rebounding and trying to establish support around the 1.55 level

Today will start with ADA trying to find support between 1.50 and 1.55, but during the day, prices are likely to fall back to lower levels. This weekend will likely see lower prices prevail. There is no sign of a reversal yet in the next several days.

Intraday/Daily
Summary: Rally to 1.65 possible, but 1.50 will try to prevent a likely fall towards 1.32. Risk of drop to 1.20.

3H - Slight upward momentum as green EMA crosses above LSMA and RSI while white EMA is slightly above level 50. Prices could rally near the yellow basis (1.66), but action will be limited by the low LSMA, RSI, and white EMA. That may keep prices in the 1.50 to 1.55 region at the start of the day.

6H - RSI and LSMA continue down. Downward momentum is likely to continue throughout the day with prices around the lower aqua (1.46) or lower as the day progresses.

12H - Strong downward momentum will continue. Green EMA is well below the white EMA, suggesting new lows. LSMA is descending, widening Bollinger bands. Prices likely to be at/under the lower aqua B-band, with the potential to drop to 1.32 again and a risk of dropping further to the lower orange B-band of 1.20.

1D - White EMA continues to rise while green EMA is flat, however RSI has crossed below level 50. Green could bend down again as the day progresses. This pattern suggests that prices will try to stay above 1.45 depsite intraday volatility.

Next 2-4 days



Summary: Downward momentum is in control and likely to keep prices between 1.30 and 1.40

3D (new) - RSI is at level 80 and green EMA is at level 50. Prices are likely to move towards or below the yellow basis (1.43). If the 3D closes at/below these levels, prices may drop to 1.30 in the following candle

4D (3 days left) - Green EMA has crossed below RSI and LSMA, while white EMA is below level 50, indicating downward momentum. If this momentum continues, prices will continue to the yellow basis (1.37). Another wick below is possible, but prices may try to find support around 1.40.

5D (4 days left) - Similar to the 4D. Prices have already wicked to the yellow basis. Continued downward momentum would likely push prices back to the area around the basis (1.33)

Good luck and good fortune!