ADA/Cardano will be releasing their new updated roadmap on the 4th of December 2018 or Tomorrow. Nouvive Intelligence states that this usually coincides with a increased in market sentiment and awareness within the community.
What does the Charts say?
Bullish
On the higher time frames, accumulation appears to have spiked since ADA has found their bottom at 4 cents.
MACD for the first time since September has flashed to a BUY signal. The last time this happened on the daily, we saw a 40.71% pump.
On the lower time frames, there appears to be a volume gap at just below the 200MA and the previous resistance seen on the 29th November - a 15% increase.
A 40% increase too can be seen based on the fundamental driver and the need to fill the volume gap at just above 5 cents.
RSI Stochastic on the lower time frames appear to be OVERSOLD and signally buy entries.
Bearish
RSI stochastic on the Daily illustrates that there is a dump to come, however this seems unlikely as ADA has seen a close to 100% retracement since the top.
Fundamentally, if the situation is not clarified with IOHK as to the future of ADA - we may see a further downtrend.
Nouvive Says for traders:
An entry point is available at current levels, especially as on the lower time frames, ADA appears to be in a bullish triangle pennant where the top is $0.0432, a breakout of that level will see the volume gap at $0.046 filled for a 15% gain over a 3 day period.
Nouvive says for Investors
Ane entry point is available at current levels for a 50% gain following ADA's breakout of the bullish triangle pennant to go above the 200MA on the lower time frames and see the previous resistance at $0.061 last seen in the middle of November.
What does the Charts say?
Bullish
On the higher time frames, accumulation appears to have spiked since ADA has found their bottom at 4 cents.
MACD for the first time since September has flashed to a BUY signal. The last time this happened on the daily, we saw a 40.71% pump.
On the lower time frames, there appears to be a volume gap at just below the 200MA and the previous resistance seen on the 29th November - a 15% increase.
A 40% increase too can be seen based on the fundamental driver and the need to fill the volume gap at just above 5 cents.
RSI Stochastic on the lower time frames appear to be OVERSOLD and signally buy entries.
Bearish
RSI stochastic on the Daily illustrates that there is a dump to come, however this seems unlikely as ADA has seen a close to 100% retracement since the top.
Fundamentally, if the situation is not clarified with IOHK as to the future of ADA - we may see a further downtrend.
Nouvive Says for traders:
An entry point is available at current levels, especially as on the lower time frames, ADA appears to be in a bullish triangle pennant where the top is $0.0432, a breakout of that level will see the volume gap at $0.046 filled for a 15% gain over a 3 day period.
Nouvive says for Investors
Ane entry point is available at current levels for a 50% gain following ADA's breakout of the bullish triangle pennant to go above the 200MA on the lower time frames and see the previous resistance at $0.061 last seen in the middle of November.