Quick ADA update
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ADA has broken out sideways from its Descending Triangle.
ADA is ranging sideways.
ADA is also in a Symmetrical Triangle pattern, which is indicated by the descending and ascending dashed black support and resistance lines.
ADA is now in a massive Bollinger Bands Squeeze. A big move should be expected, what direction that is, remains to be seen.
ADA is still below its Bollinger Bands Middle Band Basis 20 Period SMA on this 1d chart. Note that ADA has not closed a daily candle above its BB Basis since 15th Oct.
At the moment, ADA is below its Least Squares Moving Average (LSMA) on this 1d chart. ADA needs to close this daily candle above the LSMA.
ADA is above its Volume Profile Fixed Range POC for the fixed range of 5 daily candle that i have selected.
ADA is also back above its Volume Profile Visible Range POC for this charts visible range.
Overall Volume on Binance is still relatively low when compared to what ADA had a few months back around 25th August but note that the last 3 Volume Bars have been above its Volume 20 Period MA.
For your viewing pleasure, I have also added support and resistance zones indicated by the back lines with orange shading.
The Average Directional Index (ADX DI) is indicating Positive Momentum has RISEN slightly with the +DI (Green Line) at 9.45. Note that negative momentum DROPPED slightly more with the -DI (Red Line) at 13.39. Note however that while the trend strength is still strong above the 20 Threshold with the ADX (Orange Line) at 24.65 but note its has dropped below its 9 Period EMA (Black Line) which is at 25.22 indicating a weakening of trend strength, which could also be because of the continued sideways momentum.
The On Balance Volume (OBV) is indicating an increase in upwards momentum, but note that the OBV (Blue Line) is still below its 9 Period EMA. The OBV needs to cross back over the 9 Period EMA and stay above its for continued upwards momentum.
The Moving Average Convergence Divergence (MACD) is indicating that we have had the MACD Line (Blue Line) cross back above the Signal Line (Orange Line) but note that the MACD Line is still in the Negative Zone under the 0.0 Base Line.
So what does all this mean?
ADA is in a Bollinger Bands Squeeze, its debatable as to which direction ADA will pop. If you are Long, signals to look out for on this 1d timeframe are:
1: A successful daily close above the Bollinger Bands Middle Band Basis 20 Period SMA.
2: Upwards momentum with Expansion of the BB Upper and Lower Bands with the BB Middle Band sloping upwards.
3: A successful daily close above the descending trend-line.
4: A successful daily close above the LSMA.
5: OBV Line crossing back above its 9 Period EMA.
6: ADX Line crossing back above its 9 Period EMA.
7 +DI Line crossing back above the -DI Line.
8: MACD Line crossing back over the 0.0 Base Line into the Positive Zone.
A key thing to remember is that sideways ranging is done within a range, not at a constant price.
Apologies for the lack of posting, I've been crazy busy filming. I hope this is helpful with your trading and hodl-ing.
ADA is ranging sideways.
ADA is also in a Symmetrical Triangle pattern, which is indicated by the descending and ascending dashed black support and resistance lines.
ADA is now in a massive Bollinger Bands Squeeze. A big move should be expected, what direction that is, remains to be seen.
ADA is still below its Bollinger Bands Middle Band Basis 20 Period SMA on this 1d chart. Note that ADA has not closed a daily candle above its BB Basis since 15th Oct.
At the moment, ADA is below its Least Squares Moving Average (LSMA) on this 1d chart. ADA needs to close this daily candle above the LSMA.
ADA is above its Volume Profile Fixed Range POC for the fixed range of 5 daily candle that i have selected.
ADA is also back above its Volume Profile Visible Range POC for this charts visible range.
Overall Volume on Binance is still relatively low when compared to what ADA had a few months back around 25th August but note that the last 3 Volume Bars have been above its Volume 20 Period MA.
For your viewing pleasure, I have also added support and resistance zones indicated by the back lines with orange shading.
The Average Directional Index (ADX DI) is indicating Positive Momentum has RISEN slightly with the +DI (Green Line) at 9.45. Note that negative momentum DROPPED slightly more with the -DI (Red Line) at 13.39. Note however that while the trend strength is still strong above the 20 Threshold with the ADX (Orange Line) at 24.65 but note its has dropped below its 9 Period EMA (Black Line) which is at 25.22 indicating a weakening of trend strength, which could also be because of the continued sideways momentum.
The On Balance Volume (OBV) is indicating an increase in upwards momentum, but note that the OBV (Blue Line) is still below its 9 Period EMA. The OBV needs to cross back over the 9 Period EMA and stay above its for continued upwards momentum.
The Moving Average Convergence Divergence (MACD) is indicating that we have had the MACD Line (Blue Line) cross back above the Signal Line (Orange Line) but note that the MACD Line is still in the Negative Zone under the 0.0 Base Line.
So what does all this mean?
ADA is in a Bollinger Bands Squeeze, its debatable as to which direction ADA will pop. If you are Long, signals to look out for on this 1d timeframe are:
1: A successful daily close above the Bollinger Bands Middle Band Basis 20 Period SMA.
2: Upwards momentum with Expansion of the BB Upper and Lower Bands with the BB Middle Band sloping upwards.
3: A successful daily close above the descending trend-line.
4: A successful daily close above the LSMA.
5: OBV Line crossing back above its 9 Period EMA.
6: ADX Line crossing back above its 9 Period EMA.
7 +DI Line crossing back above the -DI Line.
8: MACD Line crossing back over the 0.0 Base Line into the Positive Zone.
A key thing to remember is that sideways ranging is done within a range, not at a constant price.
Apologies for the lack of posting, I've been crazy busy filming. I hope this is helpful with your trading and hodl-ing.
Nota
ADA is below its LSMA on this 1d timeframe.ADA has dropped out of its Bollinger Band Lower Band, ending the Bollinger Bands Squeeze but to the negative side.
ADA needs to close this daily candle within its lower support and resistance area. Failure to do so will turn that area into resistance will possibly lead to further drops.
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