—- Mid-term Analysis for the next coming 4 weeks to 3 months – Daily on 3h Chart ——-

ADA/USDT: Last drop to 0,31 area before recovery expected

Context
The Global Crypto market leads by BTC and ETH is still evolving within a bearish market configuration. the actual bounce offers a sell opportunity to develop the last drop of the bear configuration before new rise

Previous Analysis 04/04/2022 :

Market configuration

– Graphical Elements :
Graphical Resistance = 0,80 & 0,70

– Mathematical Indicators:
EMA ( Exp Moving averages) are capping the market at 0,80 = Bearish
RSI indicator (below) is bouncing off but still below 50% and no bullish divergence = Bearish

– Elliot & Harmonic Wave (Fibonacci):
A last drop to draw the wave (v) C II is missing – the market is actually drawing the wave (v) to complete and finish the consolidation
Fibonacci resistance in the current wave (iv) = 0,70 and 0,80
Fibonacci support of the wave (v) C II = 0,31 and in extension 0,20
Fibonacci Bullish Target = 1,4390 and 1,93
Fibonacci Bearish Target = 0,1290 and 0,0610

Conclusion

Prefered case => The ADA Coin is expecting to be sold in the coming days as long as 0,80 remains a resistance valid – the selling area has been reached and a new drop towards 0,31 area Is expected in order to see a significant buy back by the market and start to recover

Alternative case (i) => The ADA surpass 0,80 invalidating the last drop expected and opening 1,4390
Alternative case (ii) => The ADA drop significantly from the actual resistance before penetrating 0,20 and opening 0,1290/0,0610