Analysis of ADA coin
Current price: $0.7056.
Daily change: Decrease of -1.73%.
Highest price in 24 hours: $0.7344.
Lowest price in 24 hours: $0.6996.
From the visible indicators:
1. Moving averages (EMA):
EMA 7 (yellow): 0.6869
EMA 25 (pink): 0.662
EMA 99 (purple): 0.7252
The current price is above EMA7 and EMA25, but close to EMA99. This indicates that the short-term trend is upward, but still under strong resistance at the long-term average EMA99.
2. Relative Strength Index (RSI):
RSI(6) = 70.05
RSI is very close to the overbought area (70), which may indicate a potential correction or price retreat soon.
3. MACD indicator:
Difference (DIF) = 0.0075, and Signal line (DEA) = -0.0072
The MACD is in a positive phase with a recent upward crossover, supporting the likelihood of continued upward movement, but with caution.
4. Williams %R indicator:
Wm%R (14) = -26.68
This indicates that the currency is close to the overbought area as well.
-Analysis summary:
Short-term trend: Upward but needs a clear breakout above EMA99 (around $0.7252) to confirm the strength of the rise.
-Probability of correction: List due to reaching RSI and Williams %R indicators near the overbought areas.
Resistance level: at approximately 0.7250.
Support level: around 0.6860 then 0.6620.
*General advice (not financial advice):
If you are in the trade: Watch the 0.725 level closely, as a breakout with strong trading volume may continue the rise.
If you plan to buy: try to watch for a price correction to around 0.68-0.69 to enter with less risk.
