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ADA Plummets To $1 But Colossal Recovery In The Offing Cardano price dives to the years’ last line of defense and most formidable support at $1. The formation of a double-bottom pattern points toward potential recovery to $1.5. Cardano bled profusely alongside other cryptocurrencies in the market on Monday and Tuesday. The losses are likely to have come into the picture amid the bullish camp’s exhaustion. In other words, buyers feel unrewarded for the effort put into the market. Probably crypto assets have not bottomed amid the ongoing bear run since the all-time highs trades sometime in April. Bitcoin still trades under $30,000 while Ethereum is stuck between support at $1,750 and resistance at $1,850. Cardano is trading slightly above $1 after securing crucial support at the same level. Minor resistance is anticipated at $1.1, which could delay the recovery. Short-term technical indicators suggest that bulls are gradually gaining control. Cardano Price Aims For Massive Recovery To $1.5 The Moving Average Convergence Divergence (MACD) adds credence to the bullish outlook on the four-hour chart. This trend-following tool may soon present a buy signal, as the 12-day exponential moving average crosses above the 26-day EMA. The odds for a strong recovery will rise as the MACD closes the gap toward the mean line (0.00). According to the Relative Strength Index (RSI), Cardano is mainly in the bulls’ hands in the same four-hour timeframe. As the RSI follows ADA’s trend, it also calculates its strength. The rebound from the oversold region toward the midline speaks loudly of the growing bullish grip. It is essential to realize that Cardano has formed a highly bullish technical pattern. The double-bottom pattern came into the picture when the support at $1 was tested twice but held steady. A recoil is expected to emanate from this solid buyer congestion zone and perhaps, uplift ADA toward $1.5. Several resistance levels stand in the way of the ultimate upswing at $1.2, highlighted by the 50 Simple Moving Average (SMA) and $1.3 illustrated by the 200 SMA. Cardano Intraday Levels Spot rate: $1.07 Trend: Bullish bias Volatility: Expanding Support: $1 Resistance: $1.2 and $1.3
COINBASE:ADAUSDLong
by CoinGape
1
ADAUSD 4h SHORT Entry and Target!ADAUSD 4h SHORT Entry and Target! - Using Market Structure, Price Action and everything else into account this would be a very good scenario that might play out, I will be taking profits at our previous low since we also have a 2.618 Fibonacci Extension right below it that doesn't necessarily have to be broken but I would love to come down to the 3-1 Fibonacci Extension since we also have a Weekly there. GOOD LUCK! AND REMEMBER, THIS ISN'T A GUARANTEE BUT RATHER AN IDEA, DO YOUR OWN RESEARCH AND TECHINICAL ANALYSIS BEFORE ENTRING TRADES!
BINANCE:ADAUSDShort
by UnknownUnicorn22622902
ADA analysis: Decision time for ADAADA analysis: ADA breaks the resistance area and now retesting it. Also, ADA is respecting the uptrend line and we may see a retest of the uptrend line. The support zone for ADA is $1.35-$1.40 and we expect a bounce from here. If ADA breaks below the uptrend line we see more dump in the coming days. There is a heavy resistance area of $1.6-$1.65 and $1.8-$1.86. If you want to open a long position then place your orders near the support zone and use a tight stop loss.
by Bitcoinik
ADAUSD 4h Trading SIDEWAYS Range LONG On a 4H chart it seems like there is a double bottom in the forming on the lower band of the channel, that holds the price for the past 3 weeks. On a larger scale we can see an attempt of inverted H&S that failed at the now upper channel resistance level. Full double bottom formation would most likely mean retest of a channel resistance - with RSI and MACD levels low, there could be a breakout if the overall crypto market starts gaining strength. For now ADAs price stills correlates to BTC movement. Past few days it seems like a market could be forming a local bottom, opening a potential for a slow climb towards previous highs. PERSONAL TRADE: Enter trade at: 1.45 TP: half at 1.75, half keep for chance of a breakout SL: 1.30 Risk reward ratio: 2:1 + (depends on second half Profit taking) Would re-enter the trade if price comes to retest pre resistance in case of a successful breakout. Check my MACD Histogram Script. You can get it for free if you click on my profile and check scripts section ;).
KRAKEN:ADAUSDLong
by zArtac
1