Foreign Video about ADA so before we take a look At the Ada technical analysis I want to Say thank you to the community and thank You to everybody who's been delegating To our new stake pool as you might know A few days ago we created our own Mo we Launched our own more crypto online Ada Stake pool to support the network Support decentralization and to run a Community stake pool and obviously I Actually wanted to make a video as soon As we Um as soon as we reached 100 000 Delegators yesterday in the video we had Or not 100 000 delegates but one hundred Thousand eight are delegated yesterday In the video I mentioned we had nearly 100 000 so I thought well today I wake Up and I'll make a 100 000 Ada dedicated video and to say thank you But actually we've already reached 1.4 Million so um yeah thank you very much For everybody and also the large Delegations that we've received Because we now have 1.4 million that is Good news for everybody who has Delegated because it means that from the Next Epoch we should we should already Um produce some blocks or at least have A greater chance to do so so that is Really really good news and let's see How it goes
Um really excited about this and thank You so much if you want to dedicate also To the MCO State Pool then take a look At the videos in the description and There's also a link to the pool so let's Dive into the Ada technical analysis There are still a few different possible Scenarios I must tell you that the move Down here at the moment is rather a sign That we get an imminent sell-off because This is going down a bit too fast to be Still an ideal wxy pattern but we take a Look at that we haven't reached Invalidation so this could still be a Wxy which means we see a larger Retracement to the other side but the Whole reason that I showed you here in Previous videos it's a w x y is because This move down looks corrective and to Be honest it still does look corrective Therefore I had a w x y here on the Chart but the point is if we drop much Lower then we'll probably get an Imminent sell-off and the continuation Of Wave 3 straight away without a larger Retracement anyway the the trend to the Downside is still the primary Expectation for Ada anyway Um the thing is just that there was a Potential there still is a potential for Some short-term upside but we have Failed so far to hold support now it is Good news that we have broken to the Upside of that corrective price Channel
But Ada has failed after that to make a New high it is so far retesting it from Above yeah so that is sort of the good News Um but the problem is you know when you Break out of a channel like that and Then you're just sliding down you're not Really retesting so what what would have Been Um good I mean I'm saying good because in the End the primary expectation is done Anyway but Um For a wave y to the upside what should Have happened is here a retest and then Making a higher high so this at the Moment is not good and we just need to Be prepared for an imminent sell-off to The downside especially if we lose this Trend line again yeah these candles here They look fairly impulsive but the whole Thing still has a lot of overlaps here So it's a rather corrective wave pattern Here Um so I'm going to to observe this but At some point I will have to make the Imminent cell of the primary scenario That will be if we drop below 32.4 cents As indicated in previous videos the Reason is that if we drop below that 78.6 FIB level it will just get less Likely that this is still a wxy pattern And then I'm looking here at just the
Corrective move to the upside in an ABC And then this is probably something like A leading diagonal to the downside and It would yeah sell us further cells lead To another sell-off I mean ethereum also For example broke out of a triangle here Yesterday we see that here it's also not A sign of strength it's a very quiet Weekend I think the market is sort of waiting a Little bit and we haven't really seen a Massive sell-off since the um the rumors Have come out about a heck of FTX we Haven't seen a massive sell-off since The bankruptcy started of FDX us but It's more like I think these sellers are A bit exhausted because we were Massively oversold so a lot of people I Think um also bought the start of the DCA at these levels but at the moment The crypto prices are sliding they have Been sliding over the weekend that is Not a sign of strength and we are soon Here with Ada as well going to approach Approach a key support level so I think Here the message is you know we've Broken out of the channel That should Normally have led to move up but it just Shows the strength uh the the weakness Of this chart and generally across the Market so it shows actually that the Expectation of new lower lows is still Very very much likely because to see a Substantial move to the upside from here
At the moment at least there isn't Really a sign yet short-term upside Still possible in the Wave Y but that This is a real break out Real breakout pattern is actually Getting less and less likely Um we talked about the possibility of a Breakout yes that would be a really Bullish outcome and that would mean that We have really had a bear Market low Here at 31 cents but for me to believe That the price would eventually need to Get above substantially above 41 cents Because this is the 78.6 retrace and um Yeah move above that would just indicate That we are in something more bullish But for now Um I think we just need to wait where The price hits support at the moment the Next key support level will be 32.4 Cents then 31.7 these are the last Chances for the price to move up in a y Wave and the target for the Y wave based On the current lows Based on the current one I don't think It will stop here well it could but the Target would be and the first one 41 no Sorry 39.9 cents and the second one 41 44.1 but let's say if it really gets to 44.1 then it goes too high To still be in this um particular Scenario that we have on the chart where We have here the one two three four five It would actually go a bit too high for
That Um because it would invalidate the third Wave you know because we go too high so We then have to talk about a possible Reset of this Wave 2 here At the top where we were at 44 cents so I think it's a quiet day it's gonna be a Quiet day Um as always maybe we see a bit of a Price action around the weekly candle Close that will be later today Um But at the moment the market is just Sliding and it is making still lower Lows and lower highs there was a bit of A good signal that we moved up here but You can see when we broke out of this Channel we failed to make five waves I Mean this clearly shows three waves so There's always a sign that things keep Going dropping right three waves and Then we have continued to move down Um yeah I mean the channel I think is Still valid because we are currently Retesting the support level of that yeah You can see we're not dropping below it And we're sort of moving down on this Support level but as long as we don't Make as long as we make lower lows and Lower highs we don't really have a Reversal here okay and that's my update About Um Ada hope you like the update if you Did please hit the like button leave a
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