BINANCEUS:ADAUSDT

I was once a believer in ADA and her utility.
But I’m starting to give up hope.
Have I given up? Hmm … nope, not yet.

Here is a deep dive into the latest TA on ADA.

One upgrade, improvement, Dapp, … after the other, we’ve been promised the greatness of ADA but it’s all yet to yield any major gains.

Technical Analysis:

Daily Chart

EMA ( Exponential Moving Average ): The EMA’s are inverted; literally upside down 200/100/50//20 EMA and pointing downwards! The 20 and 50 EMA made an attempt to turns things back in March 28th but it was short lived. Everything looks doomish but wait a minute maybe not all hope is lost.

TTM Squeeze: TTM is steadily squeezing upward against the tide. Could this mean a stabilization of the downward pressure? Who is buying while the sell volume is high? Let’s see the RSI .

RSI: Went as low as 27 (keep in mind that 30 is a great entry point especially when the slow stochastic is pointing up) and now pointing upwards, crossing 32. Soo, is it oversold? Is now a great time to enter?

Fib Levels: .618 ! The war is on! The current candle most hold above this point (.78 cents) or else, we would see ADA at .60 cents.

Candle Stick: Summary of last 5 candles equate to a bearish movement. The last pairs look like a Bearish engulfing

Pattern: Current candle is what we call a Piercing Pattern or Bullish Engulfing . This is bullish . Even better, see that redline… we could have a double bottom forming. The could lead to a bullish price action.

At the moment, I really think, it depends on what happens at this critical point. A failure at .618 would mean that we are going down to .60 cents. If and when it holds hope we can see the price at .97 cents.