ADA or Cardano has been in accumulation following its early February 2019 bottoming at 1052. Since this, it has moved up by 11% outperforming the average coin increase by 8%.
ADA Long-Term Outlook 1 Months
- Breakout of declining Wedge with corresponding heavy buy-side volume.
- Reversal of volume and accumulation following a touch of the support and breakout of the declining wedge with an increase of 14% accumulation over 6 Days – quite surprising considering the market were trading the BTC breakout, BTT & THETA – thereby illustrating that a group of individuals have entered ADA following its bottoming of price.
- The last time we saw the touch of the bottom with an immediate reversal it was Early December in which we saw a 57% move within 3 Weeks.
- Following a move to 1250-75 we will see ADA steadily trading above the 15MA – the last time we saw this was in March 2018 witnessing a 100% move.
- The move to 1250-75 would also trigger a 15/55 MA Convergence that will provide enough momentum to see the green area and range of 1396 before a cooling period back to 1250 before a further move up.
- The next area to be aimed for is 1914 Sats a July 2018 range and volume gap area.
Ada Short-term Outlook 1 Week
- MA convergence can be seen with it steadily trading above the 55 MA.
- Golden Cross on the 4H should spark momentum above the 1174 Pivotal Area. Movement above it would see ADA going to 1250 into early January 2019 ranges.
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