ADA Trend Analysis

Candlestick Pattern: Recently, there has been a continuous upward movement of bullish candles on the 1-hour chart, breaking through the previous high of 0.7948 and experiencing a doji star consolidation. There is a short-term need for consolidation, and a double bottom structure is forming on the daily chart (with the low of 0.7366 on May 21 and the low of 0.7224 on May 20). The current price has stabilized above the neckline at 0.7839.

Technical Indicators:

MACD: The 1-hour level DIF (0.0108) has crossed above DEA (0.0090), and the histogram continues to expand. A golden cross is beginning to appear on the daily chart. RSI: The 1-hour RSI (65.67) has exited the overbought zone but remains in a strong area, and the daily RSI (59.42) has broken through the midpoint and is diverging upward. EMA: The hourly chart shows a bullish arrangement (0.7876 > 0.7691 > 0.7568), and the daily EMA7 (0.7687) is about to cross above EMA30 (0.7399).

Trading Volume:

During the key breakout period (May 22 at 15:00), trading volume significantly increased to 6.26 million, with a good volume-price combination. The daily trading volume has risen over the last three days, maintaining above 150 million.