CardanoLong
ADA - still ranging sideways
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Quick daily chart update for ADA:
Yes, ADA is still in a very long Bollinger Bands Squeeze.
ADA is also back above its Bollinger Bands Middle Band Basis.
ADA is still above its 50EMA on the daily chart.
The Relative Strength Index (RSI) is indicating momentum is still sideways.
The Chaikin Money Flow Indicator (CMF) is indicating ADA is still in the distribution zone for this timeframe. At the moment, the CMF line does look to be heading upwards, if the CMF Line (Green Line) manages to cross back above the Accumulation/Distribution Line (Dashed Line) and into the accumulation zone then this will be a good sign of possible renewed buying strength.
The 3 previous Bollinger Bands Squeezes’ have ended in a massive breakout on the upside. I’m still very positive will see another upwards breakout again especially because ADA is still in a longterm uptrend.
Remember that sideways trading or sideways ranging is not done at a constant level but at a range of levels in a channel or in this case, within the Upper and Lower Bollinger Bands as its channel.
I hope this quick update is helpful. 🔥🚀🌍🌔🪐👽🛸
Yes, ADA is still in a very long Bollinger Bands Squeeze.
ADA is also back above its Bollinger Bands Middle Band Basis.
ADA is still above its 50EMA on the daily chart.
The Relative Strength Index (RSI) is indicating momentum is still sideways.
The Chaikin Money Flow Indicator (CMF) is indicating ADA is still in the distribution zone for this timeframe. At the moment, the CMF line does look to be heading upwards, if the CMF Line (Green Line) manages to cross back above the Accumulation/Distribution Line (Dashed Line) and into the accumulation zone then this will be a good sign of possible renewed buying strength.
The 3 previous Bollinger Bands Squeezes’ have ended in a massive breakout on the upside. I’m still very positive will see another upwards breakout again especially because ADA is still in a longterm uptrend.
Remember that sideways trading or sideways ranging is not done at a constant level but at a range of levels in a channel or in this case, within the Upper and Lower Bollinger Bands as its channel.
I hope this quick update is helpful. 🔥🚀🌍🌔🪐👽🛸
Note
A quick compare of the 1 day, 2 day, 4 day and 6 day charts. And ADA still ranging sideways 👍
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