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It’s been awhile!
- Finally after quite awhile of declining price action and then some crabby action, we have started to get some nice movement to the upside. In just a week,it climbed over 40% to $1.64. This put in a higher high for ADA, which was previously $1.59. At the time of this writing,ADA pulled back along with the rest of the broader market to a respectable $1.43 at the time of this writing. I’m pretty confident ADA is now headed to the upside to make a new ATH and I am personally looking for $5 during this run. Let’s take a look at some entry points and also support and resistance that lies ahead.
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Telling Fibs
- Using the low of $1.06 to the most recent High of $3.12, we get a umacro picture of the 0.618 at $1.85. This fib is important as it will be a major area of resistance. On a closer look we can see that fib is a double fib with it also being a .236. But you have to crawl before you can walk so let’s take a look at some micro fibs between current price and the oh so important $1.85
- 0.786—-$1.59
- 0.618——$$1.67
- 0.5—-$1.73
- 0.382—-$1.78
- And of course the almighty .236(.618 macro) at $1.85.
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Moving on up.
Looking ahead in the bigger picture,here are some key resistances to watch out for
$1.99
$2.24
$2.54
$3.02
In conclusion
None of this should be considered financial advice,firstly. Look,I’m just some shmuck just like you, looking for returns on my investments lol. The information given in this article are just the opinions of myself and what I think is gonna happen. While there may be some short term turbulence to the downside depending on BTC,I expect ADA will continue to move up this year and should see somewhere in the $5 range. Good luck to all and remember….Don’t let your meat loaf. If you have enjoyed my article(my very first one!) please feel free to follow and leave a tip if you’d like. Thanks!
