ADA Analysis 19-09-2021 by TheSocialCryptoClub

Good evening,
Today we propose this analysis on ADA.

The price came into a compression zone at the main PoC, below the dynamic resistance.

Short scenario:
In case this resistance holds, we can see a strong volumetric gap created by the rally of the previous weeks, which could cause the price to collapse to the 2.08 - 2.16 area.
In this area is visible from the volumes, a very strong support that has also held the minimum of 07/09, spike excluded.
The support is also confirmed by the 0.618 level on CryptoFall.

Long scenario:
On the opposite, if this dynamic resistance would be broken, we can assume an increase in volumes with a consequent rise in price towards the upper resistances, the first in the 2.50 - 2.59 area, and the second in the 2.70 - 2.75 area.
Resistances confirmed both by volumes and by the coincidence of CryptoFall respectively on the levels 0.382 for the first and 0.236 for the second.

Thanks for your attention and happy to support the TradingView community.

Comment:

As anticipated, the resistance was not broken, and the bear pattern was confirmed bringing the price exactly below the volumetric gap, exactly on the 0.618 level of CryptoFall.