ADA/USD - 7 Day Outlook: Above 1.50, Test of 1.60 Possible
Hello friends!
With many new candles we have a lot of signal data to work with to see where ADA is going in the next 5 days.
The general picture is positive with upward momentum in control or taking control. As much as I would like a power rally back above 2.00 (and we could see a fast rise one of these days), I like what I am seeing with the indicators. A slower but steady rise shows that it is not impulsive and any retracement would be weaker. Sharp rallies often come with a sharp retracement snap back.
In the next 5 days a break above 1.40 is likely, leading to a test of 1.50. If that is broken, 1.58 would be the next target with a possible test of 1.60.
Let's look at each of the candles 2D through 6D:
2D - With 24 hours left, LSMA has started to turn up while RSI and white EMA continue their climb. The green EMA has turned down due to yesterday's mini-shakeout. There is a chance that green could come down to level 50 in the next candle, but this is not a major concern. prices in this candle have not yet come close to the yellow basis at 1.50. While uncommon, this is most likely due to the low levels of the LSMA and RSI. In the next candle, they should be higher and prices will have a stronger chance of reaching the yellow basis (~1.48 to ~1.50).
3D - (2 days left) The most optimistic chart is the 3D. LSMA is about to bottom out, RSI is rising, and green and white EMAs have crossed above level 50. If these levels hold, it is probable that prices will rise close to the yellow basis in the next candle (June 3-5). The basis is currently at 1.58 and may tick up closer to 1.60 in the next candle. Keep in mind that although prices rallying to the area around the yellow basis, it will need to break above resistance at 1.50 first.
4D - (3 days left) Indicators in the 3D are not as optimistic as the 3D, but still bullish. The green EMA has crossed above the RSI, indicating upward momentum is in control. The white EMA is close to crossing above level 50. The LSMA and RSI have not bottomed out yet, however, and the basis line is only 1.49. This suggests that it might take longer than June 3 to test 1.50.
5D - (4 days left) Indicators are following a similar pattern to the others with green about to touch RSI and LSMA, signalling that upward momentum is in control. This candle and the 6D are more influenced by the June 22nd crash and thus the indicators are likely lower than reality, hence the yellow basis at only 1.47. The next candle is likely to see the white EMA close to level 50 or above, and the green EMA just below that.
6D - (5 days left) Similar to the 5D, but with the yellow basis only 1.40. Green EMA is currently at 41 and rising. Once it crosses above level 50, the upper white B-band will be a likely target at 1.60.
9D - (7 days left) Even in the 9D green and white EMAs are coming up. If upward momentum continues, by mid-July prices may be back between the upper white (1.64) and upper aqua (1.92) Bollinger bands.
For prices to reach 2.00 again, we need to see the LSMA rise enough to expand the Bollinger bands. That may take a while. We will need to be patient in the next two weeks.
As always, there is a potential for another shake out before prices rally higher, so it is best to manage your risk despite the positive outlook.
Good luck and good fortune!
With many new candles we have a lot of signal data to work with to see where ADA is going in the next 5 days.
The general picture is positive with upward momentum in control or taking control. As much as I would like a power rally back above 2.00 (and we could see a fast rise one of these days), I like what I am seeing with the indicators. A slower but steady rise shows that it is not impulsive and any retracement would be weaker. Sharp rallies often come with a sharp retracement snap back.
In the next 5 days a break above 1.40 is likely, leading to a test of 1.50. If that is broken, 1.58 would be the next target with a possible test of 1.60.
Let's look at each of the candles 2D through 6D:
2D - With 24 hours left, LSMA has started to turn up while RSI and white EMA continue their climb. The green EMA has turned down due to yesterday's mini-shakeout. There is a chance that green could come down to level 50 in the next candle, but this is not a major concern. prices in this candle have not yet come close to the yellow basis at 1.50. While uncommon, this is most likely due to the low levels of the LSMA and RSI. In the next candle, they should be higher and prices will have a stronger chance of reaching the yellow basis (~1.48 to ~1.50).
3D - (2 days left) The most optimistic chart is the 3D. LSMA is about to bottom out, RSI is rising, and green and white EMAs have crossed above level 50. If these levels hold, it is probable that prices will rise close to the yellow basis in the next candle (June 3-5). The basis is currently at 1.58 and may tick up closer to 1.60 in the next candle. Keep in mind that although prices rallying to the area around the yellow basis, it will need to break above resistance at 1.50 first.
4D - (3 days left) Indicators in the 3D are not as optimistic as the 3D, but still bullish. The green EMA has crossed above the RSI, indicating upward momentum is in control. The white EMA is close to crossing above level 50. The LSMA and RSI have not bottomed out yet, however, and the basis line is only 1.49. This suggests that it might take longer than June 3 to test 1.50.
5D - (4 days left) Indicators are following a similar pattern to the others with green about to touch RSI and LSMA, signalling that upward momentum is in control. This candle and the 6D are more influenced by the June 22nd crash and thus the indicators are likely lower than reality, hence the yellow basis at only 1.47. The next candle is likely to see the white EMA close to level 50 or above, and the green EMA just below that.
6D - (5 days left) Similar to the 5D, but with the yellow basis only 1.40. Green EMA is currently at 41 and rising. Once it crosses above level 50, the upper white B-band will be a likely target at 1.60.
9D - (7 days left) Even in the 9D green and white EMAs are coming up. If upward momentum continues, by mid-July prices may be back between the upper white (1.64) and upper aqua (1.92) Bollinger bands.
For prices to reach 2.00 again, we need to see the LSMA rise enough to expand the Bollinger bands. That may take a while. We will need to be patient in the next two weeks.
As always, there is a potential for another shake out before prices rally higher, so it is best to manage your risk despite the positive outlook.
Good luck and good fortune!
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