ADA - The BB Middle Band Basis is a crucial level on the daily
ADA is still below its Bollinger Bands Middle Band Basis 20 Period SMA on this 1d timeframe. Note that ADA has not closed a daily candle above the BB Middle Band Basis since 13th Nov 2021. ADA needs to 100% CLOSE a daily candle back ABOVE its BB Middle Band Basis and successful retest as support for any recovery to look promising.
ADA has found some support from its Least Squares Moving Average (LSMA) level. Note that a daily close below the LSMA will be a potential sell signal for this 1d timeframe.
Using the 20,60,120,30 settings we can see that ADA is still well within the Bearish Zone of the Ichimoku Cloud and has a long way to go before it can attempt to get back in the Equilibrium Zone.
ADA is in a Falling Wedge Pattern on this 1d timeframe. This Falling Wedge Pattern is potentially BULLISH as it’s developed after the previous uptrend so it could be a Bullish Continuation.
The Dashed Black line is a major support and ADA has bounced off it as support 3 times over the last 7 Months. A daily close BELOW this level will be a sign that we may see further downwards momentum on this 1d timeframe.
Note that ADA is below its VPFR POC for the fixed range of 13 daily candles that i have selected.
Note that ADA is also still way below its VPVR POC for this charts visible range.
Note that Volume is still low on this 1d Binance chart and the last 9 Daily Volume Bars have been below its Volume 20 Period Moving Average.
If we look at the Moving Average Convergence Divergence (MACD) we can see that the MACD Line (Blue Line) is still in the Negative Zone under the 0.0 Basel Line on this 1d timeframe. Note that the MACD Line (Blue Line) is still above the Signal Line (Orange Line). If the MACD Line (Blue Line) crosses below the Signal Line (Orange Line) then that will be a sell signal on this 1d timeframe. Note that the MACD Line (Blue Line) has not be in the Positive Zone above the 0.0 Base Line since 17th Sept 2021.
If we take a quick look at the Stochastic (STOCH) we can see that the %K Line (Blue Line) is under the %D Line (Orange Line) and at the moment is also starting to slope slightly upwards and is out of the OVERSOLD ZONE of the STOCH indicator but note that it is a fast reacting indicator. Be on the look out for if/when the %K Line (Blue Line) crosses back ABOVE the %D Line (Orange Line).
ADA needs to stay ABOVE the LSMA and ADA especially needs to stay above the Dashed Black Line which is a major support line. If ADA cannot CLOSE back ABOVE the BB Middle Band Basis on this 1d timeframe then ADA will continue to go downwards over time. This goes the same for BTC, the BB Middle Band Basis is a very crucial level to keep an eye on.
I hope this is helpful with your Trading and Hodl-ing.
Notes:
Falling Wedge Pattern = Descending Converging Black Lines on Chart
Major Support Line = Ascending Dashed Black Line on Chart
LSMA = Black Squiggly line on Chart
Bollinger Bands = Grey Bands on Chart
Ichimoku Cloud = Red and Green Cloud on Chart
VPFR POC = Short Horizontal Red Line on Chart
VPVR POC = Long Horizontal Red Line on Chart
Volume Bars = Bars Bottom of Chart
Volume 20 MA = Orange Line going through Volume Bars on Chart
ADA has found some support from its Least Squares Moving Average (LSMA) level. Note that a daily close below the LSMA will be a potential sell signal for this 1d timeframe.
Using the 20,60,120,30 settings we can see that ADA is still well within the Bearish Zone of the Ichimoku Cloud and has a long way to go before it can attempt to get back in the Equilibrium Zone.
ADA is in a Falling Wedge Pattern on this 1d timeframe. This Falling Wedge Pattern is potentially BULLISH as it’s developed after the previous uptrend so it could be a Bullish Continuation.
The Dashed Black line is a major support and ADA has bounced off it as support 3 times over the last 7 Months. A daily close BELOW this level will be a sign that we may see further downwards momentum on this 1d timeframe.
Note that ADA is below its VPFR POC for the fixed range of 13 daily candles that i have selected.
Note that ADA is also still way below its VPVR POC for this charts visible range.
Note that Volume is still low on this 1d Binance chart and the last 9 Daily Volume Bars have been below its Volume 20 Period Moving Average.
If we look at the Moving Average Convergence Divergence (MACD) we can see that the MACD Line (Blue Line) is still in the Negative Zone under the 0.0 Basel Line on this 1d timeframe. Note that the MACD Line (Blue Line) is still above the Signal Line (Orange Line). If the MACD Line (Blue Line) crosses below the Signal Line (Orange Line) then that will be a sell signal on this 1d timeframe. Note that the MACD Line (Blue Line) has not be in the Positive Zone above the 0.0 Base Line since 17th Sept 2021.
If we take a quick look at the Stochastic (STOCH) we can see that the %K Line (Blue Line) is under the %D Line (Orange Line) and at the moment is also starting to slope slightly upwards and is out of the OVERSOLD ZONE of the STOCH indicator but note that it is a fast reacting indicator. Be on the look out for if/when the %K Line (Blue Line) crosses back ABOVE the %D Line (Orange Line).
ADA needs to stay ABOVE the LSMA and ADA especially needs to stay above the Dashed Black Line which is a major support line. If ADA cannot CLOSE back ABOVE the BB Middle Band Basis on this 1d timeframe then ADA will continue to go downwards over time. This goes the same for BTC, the BB Middle Band Basis is a very crucial level to keep an eye on.
I hope this is helpful with your Trading and Hodl-ing.
Notes:
Falling Wedge Pattern = Descending Converging Black Lines on Chart
Major Support Line = Ascending Dashed Black Line on Chart
LSMA = Black Squiggly line on Chart
Bollinger Bands = Grey Bands on Chart
Ichimoku Cloud = Red and Green Cloud on Chart
VPFR POC = Short Horizontal Red Line on Chart
VPVR POC = Long Horizontal Red Line on Chart
Volume Bars = Bars Bottom of Chart
Volume 20 MA = Orange Line going through Volume Bars on Chart