ADA Trendline Support and Indicators
2024-11-29

given the current rise in  BINANCE:ADAUSDT  price, the weekly and daily view gives a few hints on important high volume zones and trendlines. 

firstly with the rise a trendline from 2018 got turned into support which was last broken during the parabolic rise of ada in 2021. 

the red line shows also a daily major support/resistance flip in an area in which ada found support at the end of its last bull run + resistance during its last attempt in early 2024. 

lookling closer at it from a 4h perspective (for whatever reason I can't add this screenshot here) you can see multiple rises and accumulations with a more or less symmetrical triangle forming until breaking out to the upside- this happened 3 times since it's major rise the past month and is breaking out it's 4th one just now.  the trendline was respected several times and suggests a further rise until the "high volume zone, possible resitance".  at around $1.20. but is needs to be stated that RSI is slightly overbought and might give a slight correction to $1 first, before attempting higher. but in the end - RSI is a weak and lagging indicator. 

ofc this is currently without Fib levels and other indicators - purely based on volume and trendlines. 


