ADA could be set for some breakout movement soon.
Ichimoku
Chikou span - Made a bullish move across the price action a few hours ago and is currently well above it.
Tenken Sen - Moving horizontally this confirms the market is ranging and in an accumulation zone
Kijun - Currently acting as support and signals the price has room to continue ascending.
Senkou Span A and B are very wide which confirms the current volatility in price. Span A is working as support at 2271 and Span B is resistance around 2400.
StochRSI - Stochastic shows that a bullish divergence was made and the RSI is continuing up after bouncing off the 41 mark.
MACD- After the bullish movement the past 3 hours, MACD is signaling that the overbought phase could cause more consolidation, but there is room to move up if volume stays bullish.
Psychological resisance is acting as strong support and resistance within the falling wedge pattern and aligns well with the support made by Senkou span A.
Although the price look as if it may form a shooting star pattern and consolidate there is still indication that a breakout could take place in the next few hours. Watch for a break in the wedge. If all resistance is cleared and the wedge pattern holds true the price has room to move up towards 2850~
Ichimoku
Chikou span - Made a bullish move across the price action a few hours ago and is currently well above it.
Tenken Sen - Moving horizontally this confirms the market is ranging and in an accumulation zone
Kijun - Currently acting as support and signals the price has room to continue ascending.
Senkou Span A and B are very wide which confirms the current volatility in price. Span A is working as support at 2271 and Span B is resistance around 2400.
StochRSI - Stochastic shows that a bullish divergence was made and the RSI is continuing up after bouncing off the 41 mark.
MACD- After the bullish movement the past 3 hours, MACD is signaling that the overbought phase could cause more consolidation, but there is room to move up if volume stays bullish.
Psychological resisance is acting as strong support and resistance within the falling wedge pattern and aligns well with the support made by Senkou span A.
Although the price look as if it may form a shooting star pattern and consolidate there is still indication that a breakout could take place in the next few hours. Watch for a break in the wedge. If all resistance is cleared and the wedge pattern holds true the price has room to move up towards 2850~
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