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Adausdtlong

ADA TargetsADA has broken out of the 1.272 fib retracement at 2.87, which is great to see. I've laid out all the fibs and log fibs for potential areas of resistance in the future up to 4.33. Just because it's out there doesn't mean it has to be resistance but they might be good places to scale out of long positions or enter short scalps if the price is overextended right under a fib resistance. My timeframe would be in the next 2-3 months but many of them might get hit in anticipation of the smart contracts upgrade.
Long
by micjmor69
2
ADA/USDTAlways read/ check for update comments as I might change (no Obama) something in the idea. We broke out of a consolidation phase, had a backtest, and broke resistance. The question now is, can we hold support? I am accumulating a short position within the rectangle "building a short position in this rectangle" and attempt to build a leverage position. ADA is currently pure hype and doesn't offer a helpful case as there are superior blockchains(no doubt Charles Hoskinson will pave the way to success, but it's too soon). The BB widens, which means we might continue higher, ranging between the middle and upper bands. There is also the possibility that the BB gap is overextended. Seeing the BB%B (blue highlight) time frame shows us when the BB has widened and corrected. Looking at the MACD, we can potentially identify wealth cycles. The blue highlighted areas suggest a change in trend where a bearish cross occurred. Also, the MACD shows a potential cross in the future. Lastly, we are placing bids in a plausible dead cat bounce zone for a long. I hope you all have a great morning. Please, leave a follow and a like, if you enjoy this analysis check out my other content. Best wishes, HONEYITSGONE! Now that the vital info is over with let me hit you with some facts. Firstly, who even buys ADA, I have been involved with crypto for a few years now, and I don't know anyone who purchases it. Secondly, did they find someone who wants to build on their network yet? lastly, how is the market cap larger than BNB?
Short
by HONEYITSGONE
10
ADA Prepares To Test All-Time Highs As Speculation Intensifies Cardano explodes over 20% to trade at $1.8, leading altcoins in mid-week recoveries. Development activity on the Cardano network surge ahead of the launch of smart contracts functionality. Cardano breakout has continued to make headlines this week. Data by CoinGecko shows ADA trading 20% in 24 hours, following an announcement that the blockchain network will soon support smart contracts functionality. At the time of writing, ADA is trading at $1.77 amid the push by the bulls to close the day past 1.8. The uptrend has been entirely consistent with Cardano flipping hurdles into formidable support areas. Cardano To Launch Smart Contracts Solutions The CEO of IOHK, Charles Hoskinson, has confirmed that Cardano will soon have smart contracts functionality. According to him, discussions and preparations have been completed, with Friday being the tentative day. However, he cautioned the community on onboarding the exchanges saying that this step will be “the final go-no-go.” We had a lot of discussions with partners and other people, and it looks like we are on track for Friday to announce the date. As the news reverberated across the market, Cardano shot up significantly, extending the breakout from July 22. Many analysts believe that this development will take Cardano to the next level, with the price predicted to hit the all-time of $2.5 within the next week. The short-term technical outlook shows that Cardano has a bullish outlook that continues to support the uptrend. For instance, the Moving Average Convergence Divergence (MACD) indicator still compels buyers to buy into ADA. In addition, a break above the immediate hurdle at $1.8 could bolster Cardano above $2. More buy orders will be triggered above this level, with speculation for gains above $2.5 increase at astronomical margins. It is essential to realize that the Relative Strength Index (RSI) is already overbought. Usually, overbought conditions are challenging to uphold. Hence, a correction is often expected after the RSI hits levels above 70. Currently, the technical index stands at 80, implying that a retreat is possible in the near term. Therefore, it is imperative to be cautious while trading Cardano, at least for now. Cardano Intraday Levels Spot rate: $1.8 Trend: Bullish Volatility: Growing Support: $1.4 and $1.2 Resistance: $1.8 and $2
BINANCE:ADAUSDLong
by CoinGape
1