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Cardano - Is ADA heading to $10 or $0.10?Taking a close look here and through the duration of 2022, the white wave on the daily wavemaster has been oversold ever since about April. This is the most bullish it has looked in a year. Watching the green/yellow/red, things are still pointing up but not for much longer. Give it another 2 weeks or so and we'll get a decision. Until then, lets look at some key horizontals. Right now, we're at the resistance from January 2021 around 40 cents. That's right around where we are now. Having some discussions with others online, I adamantly pleaded with people to be a buyer below 30 cents and to buy more at 25 cents. Well, here we are. ADA has risen 56% from there and only now you're interested. This is a reason why I am being very picky with what I would like to buy. Right now, Cardano is not a net new buy but rather I'm watching for a profit take area. It's quite interesting that we've seen a great reaction off the 50% internal retracement from the March 2020 low to the August 2021 high. The target for that kind of a bounce is around $10 if we go to new highs but I am skeptical at the moment. Sure, more upside is likely, but I'd be more interested if we dropped to the golden zone instead. The perfect path would be for Cardano to go to roughly $1, then return to about $0.10-0.15 before making that move to $10.
Long
by bitdoctor
3
ADA ANALYSISlright, listen up guys because we've got some exciting action going on in the world of ADA. It looks like ADA has retested and bounced from the trendline that it broke a few days back. Now, we're expecting some movement here based on the price action we're seeing on the key support and resistance levels. But let me tell you, for ADA to make a truly bullish move, it's gotta break through those key levels. So keep your eyes peeled, friends, 'cause this one could be a real doozy!
by FortuneAI
Cardano At The Top | Short OpportunityDue to today's CPI data, the crypto & stock market reacted with some volatility. ADAUSD profited from this situation and maintained a strong upwards trend throughout the day. The price is currently in the overbought area and is already showing some signs of weakness. I took a short position one hour ago (10x) and I will keep this position for the next few hours. This should end up as a pullback instead of a trend-reverse, therefore my target is located at the previous horizontal resistance. My stop-loss is above the previous high - once we reach this level, we're likely going to see another high for today. Trade carefully. Also, feel free to check out my bio for my crypto trades. Cheers, ARESABI
Short
by Anton_XBT
1
Elliott Wave View Suggests Cardano can See Further Correction LoCycle from 12.30.2022 low ended in wave (1) at 0.414 as a 5 waves. Up from 12.30.2022, wave 1 ended at 0.281 and pullback in wave 2 ended at 0.272. The crypto-currency extends higher in wave 3 towards 0.37 and dips in wave 4 ended at 0.325. Final leg higher ended wave 5 at 0.414 which completed wave (1) in higher degree as the chart below shows. Internal subdivision of wave 5 unfolded as a 5 waves diagonal. Up from wave 4, Wave ((i)) ended at 0.387 and pullback in wave ((ii)) ended at 0.347. The crypto-currency extends higher again in wave ((iii)) towards 0.399, wave ((iv)) pullback ended at 0.367, and final leg higher wave ((v)) ended at 0.414 which completed wave 5 and (1) in higher degree. Wave (2) pullback is in progress to correct cycle from 12.30.2022 low with internal subdivision as a zigzag. Down from wave (1) peak, wave ((i)) ended at 0.393 and wave ((ii)) ended at 0.407. The crypto extends lower again in wave ((iii)) towards 0.383, wave ((iv)) ended at 0.403, and final wave ((v)) ended at 0.38 which completed wave A. Expect wave B rally to fail below 0.414 for another leg lower in wave C to complete wave (2). Near term, as far as pivot at 0.414 high stays intact, expect the crypto currency's rally to fail in 3, 7, or 11 swing for further downside.
BINANCE:ADAUSD
by Elliottwave-Forecast
2
ADAUSD Futures ( ADAUSDT ), H4 Potential for Bearish DropTitle: ADAUSD Futures ( ADAUSDT ), H4 Potential for Bearish Drop Type: Bearish Drop Resistance: 0.41297 Pivot: 0.38410 Support: 0.32956 Preferred case: Looking at the H4 chart, my overall bias for ADAUSD is bearish due to the current price crossing below the Ichimoku cloud, indicating a bearish market. If this bearish momentum continues, expect price to possibly head towards the support at 0.32956, which is the overlap support. Alternative scenario: Price may head back up to retest the resistance at 0.41297 where the recent high is located. Fundamentals: There are no major news.
AShort
by Genesiv
ADAUSD Potential for Bearish Drop | 7th February 2023Looking at the H4 chart, my overall bias for ADAUSD is bearish due to the current price crossing below the Ichimoku cloud, indicating a bearish market. Looking for a sell stop entry at 0.3820, where the recent minor low is to ride the bearish momentum. Stop loss will be at 0.4137, where the recent high is. Take profit will be at 0.3294, where the overlap support is. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
COINBASE:ADAUSDShort
by Rockqet
1
Cardano ADA/USDTesting/tracking elliot wave theory. Please do not trade off idea without S/L. Not financial advice. We have a -92% drop from the top so far that's in. We might have a possibility of another leg down making it -95% drop from the top. I highly think this will not happen unless the whole crypto market crashes. R/R ratio from today's price: 18.88 Possible upside: 1200% Possible downside: -63% R/R ratio from -95% drop 517 Possible upside: 3310% Possible downside: None, I believe this would truly be the bottom and not use a stop loss. If you're the market maker, would you want to give people the opportunity to make an extra 3000% or 1200%? Another crypto crash down across all these charts would cost the market maker more money. Crashing the market by another -50-60% and giving away 3000%+ doesn't seem like the wise play here. RSI has been at all time lows and MACD's are starting to curl up. Very unlikely we go lower to -95%.
KRAKEN:ADAUSD
by AyoKu
Which a way, ADA?If you find this info inspiring/helpful, please consider a boost and follow! Any questions or comments, please leave a comment! Also, check out the links in my signature to get to know me better! Doesn't take an Elliottician to see that ADA is a potentially tough, previous support turnt resistance. Looks like the levels have been reacting nice as well. SO, if it decides to retrace, looking to these levels...and confluence with Elliott wave, algos...all that good stuff. If it breaks above, great! Turn this level back into support! Cheers!
Short
by CryptoKnee
1
ADA: Identifying Local ResistanceHere we are looking at ADAUSD on the 4hr time frame… In trying to determine what Cardano will do next, let’s take a look at its current price levels. Since January first, Cardano has rallied with the rest of the market. In just the last 5 weeks, Cardano has rallied just under 70%! The question we must analyze in the short term is where this rally will run into significant resistance, as it has been relatively smooth sailing to this point... As seen on the chart, the parallel resistance channel seems like a strong zone to watch. Not only has ADA rallied 68% in less than five weeks, but it hadn’t really run into any significant resistance zones until now. I would expect ADA to continue bouncing between support (blue ascending line) and resistance (channel). I will continue to monitor this chart, and update you when there’s a development in its chart! Trade safely… Cheers!
BINANCE:ADAUSD
by GarethSolowayOfficial
6
ADAUSD Short Selling SignalLooks like my instincts were right on the money with ADA! I've been keeping a close eye on this one, and it's been in a downward channel since May 22nd. Currently, it's trading near the resistance zone and showing some clear bearish reversal signals on the daily chart - a inverted hammer, baby! I'm putting my faith (and 3% of my trading capital) on the line and shorting from 0.4 to 0.43. Ready to make some moves? Here's my setup for a swing: 📍 Entry: 0.4xx -0.43x 📍 Stop Loss: 0.46xx 📍 Take Profit: 0.2xx Always trade at your own risk and never risk more than you can afford to lose.
Short
by Chainslab_Analytics
2