ADA playing on the daily.

9 May 2020

The trend decided to go to the support.

At the daily chart we can see the rejection of the ema 26 when it tryed to cross the ema 200. The ema 12 is about to cross bearish. My idea is that last cross will not happen and we will see a move upward.

To support this statement we can see that the 4 hours, 6 hours are avoiding the bearish cross. The 12 hrs held over the ema 200 and the daily is back on the support of the previous resistance.

For some reason we had a capitulation and the price didn't respected the supports following the move at btc dominance.

ADA/USDT is having a golden cross (ema 26 over the ema 200) at the daily close. If we manage to close over 0.0536$ (monthly resistance) we can expect a surge that should hit the next one at 0.0794$.

The bullish case in ada/usd and the behavior of the ADA/BTC will also confirm the potential bearish rejection at the weekly on the btc dominance chart.

In case of a bearish trend we should follow the support line until the 12 hrs oversold. The case will be confirmed when the daily makes a cross under the ema 200 and the weekly close is under 541 sats.

I hope it's not to much information.