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Fair Market Analysis: ADA Bounce Off

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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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Fintech Daddy
FintechDaddy is relentlessly passionate in his technical Analysis for both CryptoAssets & Forex. Join his Charting Playground available exclusively on Telegram. There you are either a teacher or a learner. http://t.me/Chartground Stalk him on Twitter:

FinTech Weekly Round-Up: 10th February

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