ADA/USDT :: crossing the middle line !ADA/USDT :::
The price is in a descending channel and is on the way to break the middle line of the orange channel .
If the middle line is broken for the price, it will play the role of support, which will lead the price towards the ceiling of the channel .
<<< Good luck >>>
Adausdbuy
ADA LONG HOLDADA just finished 1 to 5 Elliot Wave Theory downwards, broke out of a downtrend and started an ABC correction, we are forecasting that we already finished B wave of a correction because it is 61.8% zone of a fib retracement so we expect price to reverse and start to rise until it hits liquidity zone in $2.37 zone.
Cardano blockchain is in the actions of implementing Vasil Hard Fork in beginning of the summer (June of 2022) we already saw first stages and after every one of them being implemented price risen so as Cardano blockchains TVL. This Hard Fork implementation will allow it to deal with more dApps and improve users experience also NasdaQ has listed Cardano as one of the coins to buy and hold forever, so once this Fork will be launched in the market we should see price sky rocket.
Target 2.368
Invalidation: 0.778
Entry: 0.97
💡Don't miss the great buy opportunity in ADAUSD @Cardano". There is a possibility of temporary retracement to the suggested support line (1.610).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. ADAUSD is in an uptrend, and the continuation of the uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 81.
Take Profits:
TP1= @ 1.740
TP2= @ 1.831
TP3= @ 1.949
TP4= @ 2.148
TP5= @ 2.467
SL= Break below S2
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💡Don't miss the great buy opportunity in ADAUSD @Cardano ". There is a possibility of temporary retracement to the suggested support line (1.610).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. ADAUSD is in an uptrend, and the continuation of the uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 81.
Take Profits:
TP1= @ 1.740
TP2= @ 1.831
TP3= @ 1.949
TP4= @ 2.148
TP5= @ 2.467
SL= Break below S2
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
❤️ Your support is very much 🙏 appreciated!❤️
💎 Want us to help you become a better Forex / Crypto trader?
Now, It's your turn!
Be sure to leave a comment; let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
Cardano (ADA): Analysis using Ichimoku 13/06/2020H4
The price is trading below the Ichimoku cloud, indicating a possible end to the upward movement of correlation. RSI has reached oversold levels. Also, between the price and the RSI, convergence was formed. Fibonacci level of 61.8% was tested.
Conclusion:
We recommend buying at the current price, as many indicators indicate completion of correction on H4.
H1
The price is trading in the Ichimoku cloud and above the Fibonacci level of 23.6%. RSI is in an undefined state.
Conclusion:
We recommend buying when the RSI reaches the oversold level, as well as from the Fibonacci level of 38.2%.
Good luck!