Ada has been on fire recently reaching number 3 on coinmarketcap with over a $40 billion market cap!
Many people suggested it was a buy the rumour sell the news affair with the release of the Mary hard fork and it does seem bears are taking the bulls for a little ride in the short term.
Technically Ada is still bullish on the macro chart forming HH and LH but on...
Update on yesterday's idea. The pattern is still forming as predicted and after if there is a drop to around 1.17 the chart would suggest we will see a surge shortly afterwards... Are we going to Moon today??
Ada is forming a descending triangle on the 1 hour chart.
A breakdown will lead to the $0.85 level.
I will wait for a close below the white support line at the base of the descending triangle before entering the trade, confirmation is key.
I'm still bullish long term on this coin but pull backs are welcome in bull markets.
Nice pattern forming on the ADA chart today following a couple of days of uncertainty on the trend. Is a repeat of the last pump possible to take us to new highs? Either way the next 24 hours will be telling...
Ada looks to be ranging under resistance, this is usually bullish and leads to a breakout to the upside.
The break out of the symmetrical triangle is around the $1.15 area.
Btc seems to be in charge and alts look a little flat, so a spike in volume is needed.
Buy in on a restest would be perfect if the initial breakout volume is weak.
With ADA reaching highs of $0.97 last week Thursday will its break the $1.0 mark this week? ADA has just broke a down trend resistance and it looks like its on its way up. Lets see what the next few hours bring. A clear run on the upside would set it off all the way to $1.0 by the end of the week.