・Hard fork postponed and unmoving development
ADA / JPY Daily Bid Chart
The above figure is a daily chart of ADA / JPY (period: 2022/3/23-present).
Looking at the movement of ADA / JPY on the Ichimoku Kinko Hyo, the upper price steadily increased from the middle of March, and although it was temporarily located at around 150 yen, the three roles that met the following three conditions from the end of April. The reversal continued, and on May 12, it fell below 50 yen for the first time in about a year and three months.
① The price of ADA / JPY breaks below the cloud
② The conversion line (yellow line) breaks below the reference line (green line)
③ The lagging span (red line) breaks below the price of ADA / JPY
At the moment, the three-role reversal continues, and the conflict continues at around 60 yen, and the downtrend is in progress on the technical side.It seems that it can be interpreted as.
On the other hand, looking at the oscillator: Slow Stochastic Oscillator, which is said to be easy to function in the range market, the current position is around 20%, which is the oversold level.
When the reversal signal (buy sign) occurs on May 29, it can be seen that the price has risen from the 50 yen level to 85 yen (6/8 high) (white circle in the above figure).
In the future, if buying pressure increases due to expectations for hard forks and the price movements in the past are followed, a temporary rise may occur.
Risk Disclosure: The articles and articles on Arover.net do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies.