Reviewing last week's analysis: Instead of dumping (Blue IC&H), ADA caught the C&H (green solid) on the micro. Now it is creating a H&S, taking it back down to the original Inverted H&S price target in the $1.30 range. Timing is everything, in terms of completing its cycle and hitting either the descending channel line or the support line. If it takes too long, it may break the short-term support, dumping to $1.20 (lower support). This may get stymied if the bulls step up to defend the $1.40 zone. I think they're too tired though and this will play out as originally discussed last week. You'll also note that these trends will lead right into the Green-dashed C&H and then play into the macro Pink C&H also discussed last week in ADA's "path to $5." Although these ideas from last week are finally playing out, they are indeed just my thoughts and certainly not financial advice. I'm not going to advise Stop Loss's because ADA can't get much lower. Conversely, I would accumulate as much as possible at these levels because the platform and mission are legit. They're not trying to inflate their value for the sake of making money, they're thoughtfully creating a sustainable ecosystem for the decades ahead.
If you made it this far through my analysis, I will reward you with some realistic hope: The last time ADA sunk 37% below the 50MA, hitting the support line, which is where it will be should this play out, with a higher low around $1.20, it rebounded 200%.
If you made it this far through my analysis, I will reward you with some realistic hope: The last time ADA sunk 37% below the 50MA, hitting the support line, which is where it will be should this play out, with a higher low around $1.20, it rebounded 200%.