ADA/USD May 8 - Down to 1.50 today

Hello friends!

Yesterday's forecast was a potential breakout to 1.77, and possible retracement to 1.50. The day's trading range was quite close to this forecast, with a new ATH of just under 1.75 and a dip to 1.52.

Again, ADA/USd has shown strength by returning to the 1.65 region on each dip and managing to put in a new ATH. This suggests that the underlying market is starting to step up to higher highs in coming weeks.

Dspire this step up in prices over the past three days, there are signs that upward momentum is exhausting. The key support levels to watch are 1.60, and then 1.50 below that.

Intraday (Today)
Summary: Downward to 1.50

6H - Green EMA is below level 50 in the current candle. If it closes with green at/below level 50, expect prices to return to the yellow basis line, which will likely be around the 1.53 fib.

12H - Green EMA has crossed below the RSI indicating downward pressure. Prices will likely range around 1.60 to 1.65 in the first half of the day, then move towards the upper white B-band (1.56) or lower (1.50).

1D - Green EMA has started to turn and white EMA is flat. No new ATH should be expected. Upward momentum will persist, helping prices move sideways or down to the 1.55 region.

Multiday (next 3 days)



Summary: 3D chart (2 days left) suggests prices may have topped for this rally. Upward pressure could persist and drive prices to 1.77, but prices around 1.60-1.65 is more likely

Good luck and good fortune!