Paul_Erasmus

Time Cycled ADA to gain 24% by Mid June

Long
KRAKEN:ADAUSD   Cardano / U. S. Dollar
Viewing the chart above we can clearly see a 55 day time-cycle has formed (red semi circles at top).
The cycle starts from 3rd Jan 2021 and is repeated every 55 days on the following dates: 27th February, 23rd April and predicted 17th June.
The frequency of the cycle is also clearly seen in the LT 144 RSI - (Vertical white dotted lines mark Cycle, Price and RSI )

Price is rarely dipping below LT 144 rising DEMA which is a good signal of growth, however the further the price parts from the DEMA the greater the correction signal becomes for the price to return to the DEMA .

The yellow lines show ADA's trend entry and together with the blue horizontal lines confirm the base entry support, trend formation, support and resistance within the trend and finally the trend breakout on 6th May confirmed on 13th May.

And if you include the RSI green prediction doesn't that look like a perfect cup and handle forming on the RSI!? :)

All the above signals a 24% gain by Mid June @ a price of 2.75.

Good Luck to All
Comment: ADA Survived the sell off rather well, with the start of the trend base (yellow), acting as support to the sell off; fairing a lot better than most!
Prediction still stands

Comments

Can you still see this happening?
Reply
Paul_Erasmus mikenguyen0018
@mikenguyen0018, Hi - I've revised the above to the snapshot below. BTC is screwing everything at the moment, however this could turn out to be good for ADM. Mid June? I've extended this to end of June and later. In the current market state I'm unable to be more accurate (sorry). The revised chart looks good though, take a peek:

Reply
where would you say ADA could retrace to? i.e. a good buy price
Reply
@abiraj05, Laying over the above chart with a Fibonacci Retracement Tool, FR 0.618 suggests a price of 1.78 and FR 0.5 is exactly where the middle blue support/resistance line is above @ 1.485
So maybe a little higher 1.95 or 2.0 ? :)
Not Advice - My Opinion
+1 Reply