Hey, I am back after some time with another Technical Analysis, this time looking again at Cardano - ADA.
I will answer really simple question for me, and that is if Cardano is a good buy now.
Lets talk a bit about it.
Cardano is really solid buy right now. Why?
Cardano / ADA is in the strong demand zone and has bounced off 50 day EMA and has broken downtrend line.
I dont see ADA as a good buy only if Bitcoin will fall below 8200, that would made this strong demand zone, strong ressistance zone.
Moving on the chart.
Downtrend line broken, Strong demand zone, few supports and ressitances ideal for buys and sells.. not much to say. Oh yes, slight uptrend.
What does the Indicators says?
Not looking so good, ADA may see lower levels in this zone such as 2950 - which may lead to strong bounce upwards.
RSI - Failed to hold at support.
MACD - sellers dominance over buyers, failed to hold divergence.
Stoch is at the bottom giving buy signal, for me is stoch like a fast MACD which can lead to MACD curve.
Also daily Fractal has told me that at 50 day EMA there is strong support.
So I think thats about it.. If you have any Questions feel free to ask me down bellow or at my discord channel!
Hope I made your view on whats going on with ADA somehow clearer.
If you like this Technical Analysis let me know in the comments, Likes are aprreciated, Thanks !
If this gets a little bit of attention, I will do an update!
I will answer really simple question for me, and that is if Cardano is a good buy now.
Lets talk a bit about it.
Cardano is really solid buy right now. Why?
Cardano / ADA is in the strong demand zone and has bounced off 50 day EMA and has broken downtrend line.
I dont see ADA as a good buy only if Bitcoin will fall below 8200, that would made this strong demand zone, strong ressistance zone.
Moving on the chart.
Downtrend line broken, Strong demand zone, few supports and ressitances ideal for buys and sells.. not much to say. Oh yes, slight uptrend.
What does the Indicators says?
Not looking so good, ADA may see lower levels in this zone such as 2950 - which may lead to strong bounce upwards.
RSI - Failed to hold at support.
MACD - sellers dominance over buyers, failed to hold divergence.
Stoch is at the bottom giving buy signal, for me is stoch like a fast MACD which can lead to MACD curve.
Also daily Fractal has told me that at 50 day EMA there is strong support.
So I think thats about it.. If you have any Questions feel free to ask me down bellow or at my discord channel!
Hope I made your view on whats going on with ADA somehow clearer.
If you like this Technical Analysis let me know in the comments, Likes are aprreciated, Thanks !
If this gets a little bit of attention, I will do an update!
Note
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.