ADA - My Longterm Outlook
Think Longterm:
First and foremost, ADA is still in a longterm uptrend.
From the 12th March 2020 to 27th July 2020, ADA did a 911% rise from $0.017 to $0.172.
From the 24th September 2020 to 27th February 2021, ADA did a 1940% rise from $0.075 to $1.54.
Obviously this is ignoring consolidation periods & dips in those moves so i'm just taking the full bottom and tops.
If we say that this Daily Candle is roughly the lowest ADA will go, if ADA does roughly another 1000% move up, that would take ADA to $12.6.
ADA is still ABOVE its 50EMA on the Daily Chart, ADA is NOT going to move downwards unless its crosses below & closes a Daily Candle below its 50EMA & also fails to make it back ABOVE said 50EMA, i think it's safe to assume that ADA is NOT going to drop under & close a Daily Candle below its 50EMA anytime soon.
Look at the history of ADA on this Daily Chart, you can clearly see what has happened when ADA has dropped & stayed UNDER its 50EMA…… and what has happened when ADA has been ABOVE & STAYED ABOVE its 50EMA……. interesting wouldn’t you say? 🤔👍
ADA has been consolidating above its 50EMA in a Bollinger Bands Squeeze for over a month and 1/2 now from the 27th February to tonight, which is 6th April GMT. Even if ADA continues to consolidate for a few more Days, Weeks or even Months……. The wait could certainly be worth it.
I hope you have found this helpful. Good luck 👍
First and foremost, ADA is still in a longterm uptrend.
From the 12th March 2020 to 27th July 2020, ADA did a 911% rise from $0.017 to $0.172.
From the 24th September 2020 to 27th February 2021, ADA did a 1940% rise from $0.075 to $1.54.
Obviously this is ignoring consolidation periods & dips in those moves so i'm just taking the full bottom and tops.
If we say that this Daily Candle is roughly the lowest ADA will go, if ADA does roughly another 1000% move up, that would take ADA to $12.6.
ADA is still ABOVE its 50EMA on the Daily Chart, ADA is NOT going to move downwards unless its crosses below & closes a Daily Candle below its 50EMA & also fails to make it back ABOVE said 50EMA, i think it's safe to assume that ADA is NOT going to drop under & close a Daily Candle below its 50EMA anytime soon.
Look at the history of ADA on this Daily Chart, you can clearly see what has happened when ADA has dropped & stayed UNDER its 50EMA…… and what has happened when ADA has been ABOVE & STAYED ABOVE its 50EMA……. interesting wouldn’t you say? 🤔👍
ADA has been consolidating above its 50EMA in a Bollinger Bands Squeeze for over a month and 1/2 now from the 27th February to tonight, which is 6th April GMT. Even if ADA continues to consolidate for a few more Days, Weeks or even Months……. The wait could certainly be worth it.
I hope you have found this helpful. Good luck 👍
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.