ADA needs to break back above the descending trend-line for renewed upwards momentum.
If we look at the (OBV) the OBV (Blue Line) has increased but note that it is still under its 9 Period (Orange Line). If you are waiting for confirmation of renewed upwards momentum then you need the OBV (Blue Line) to cross back above the 9 Period (Orange Line) and stay above.
The ( DI) is indicating the trend strength has dropped with the (Orange Line) at 29.83 still below its 9 Period (Black Line) which is at 32.67. The (Red Line) has dropped to 17.92 and the (Green Line) has dropped to 13.18. This tells me that both Negative Momentum and Positive Momentum has dropped and that the trend strength is still uncertain until the (Orange Line) crosses back above the 9 Period (Black Line) on the id timeframe.
The Moving Average Convergence Divergence ( ) is indicating ADA still has a while to go on this 1d timeframe before we see the Line (Blue Line) cross back over the Signal Line (Orange Line). Note that we do have lessoning Histograms but note that the Line (Blue Line) is still under the 0.0 Base Line in the Negative Zone.
The Descending Trend-Line of the is a major . I wouldn’t get excited until ADA crosses and CLOSESs a daily candle ABOVE this level, and unless the OBV (Blue Line) crosses back above the 9 Period (Orange Line) on this 1d timeframe, then ADA will continue to create Lower Highs.
I hope this is helpful with your trading and hodl-ing.
= Dashed Lines on Chart
= Black Squiggly Line on Chart
= Grey Bands on Chart
VPVR POC = Long Horizontal Red Line on Chart
VPFR POC = Short Horizontal red Line on Chart
= Red and Green Bars bottom of Chart.
MA = Orange Line going through Bars bottom of Chart.
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