ADA has finally found support!?

7 มิ.ย. 2019

After having fallen for the last two months, the low seems to have been set according to the Spectral Range's indicator. You can see the area drawn with a rectangle in the chart. This area of support was also a support in December 2018, which makes it stronger. In addition, the volume has increased heavily and helps confirms interest is growing. A pennant has formed after exiting the oversold region of the Murrey's channel. Now, a pennant can break up or down so if you want to play more conservative you can always wait for a breakout. The Ultimate Trend Analyzer indicator just turned green so it is saying the trend is changing to the upside.

Fundamentally ADA's Shelley testnet is expected to be released in June so this will be a great catalyst.

-faulkin