Looks like lots of Altcoins are in their 5th wave correction right now. ADA seems to be no exception. Daily RSI is still pretty strong, and it didn't have its big impulse wave bounce until it was sub 30.
There was some play that could have been a Wave B correction, and so we could be working on Wave C right now, but it's not really clear at this time to me which part of the cycle it's in.
Seems quite likely it could correct further before starting it's next impulse wave up. Good one to watch for a few days to see what patterns start forming.
There was some play that could have been a Wave B correction, and so we could be working on Wave C right now, but it's not really clear at this time to me which part of the cycle it's in.
Seems quite likely it could correct further before starting it's next impulse wave up. Good one to watch for a few days to see what patterns start forming.
ノート
Clear ABC correction has played out in a "Flat" formation. Only just touched the 0.382 line, so either this is a VERY bullish retracement, or it has more room too fall. No clear capitulation volume
4HR RSI has bounced off a line that points 2 & 4 bounced off, but hasn't gone as low as the 0 point starting RSI.
Some MACD bullish divergence.
Stochastics in oversold conditions - possible bullish bounce.
Not clear enough signals from my perspective that this is going to spike - but it's worth keeping an eye on it to see if it starts to form an impulse wave.
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