ADA upward continuation after this?
As ADA nears its mid term fib support at 31c at the 0.618 retracement, I’ll be expecting a strong bounce at that level. Should it fail, there should be even stronger support at the 0.786 fib retracement level at 27c.
A bounce at the fib support should send it back above the 20 week moving average, and all the way up to where the 20, 50 and 200 day moving averages have converged at about 37c to 38c. I’d expect to see pretty strong resistance there, but am confident that ADA can break above all three of those, keeping all the strong fundamental developments in mind. Prediction for the end of March is that ADA will be hovering around the 37c to 39c range, either just above or below the daily moving average resistances.
A bounce at the fib support should send it back above the 20 week moving average, and all the way up to where the 20, 50 and 200 day moving averages have converged at about 37c to 38c. I’d expect to see pretty strong resistance there, but am confident that ADA can break above all three of those, keeping all the strong fundamental developments in mind. Prediction for the end of March is that ADA will be hovering around the 37c to 39c range, either just above or below the daily moving average resistances.
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