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ADA Analysis, Cup and handle pattern, RSI divergence Hello everyone, as we all know the market action discounts everything :) _________________________________Make sure to Like and Follow if you like the idea_________________________________ Cardano (ADA) cryptocurrency surged by over 18% to set a new all-time high of $2.57.A Big Cup & Handle pattern emerged and broke out 3 days ago which explains the coin movement, The coin is having a very good Bullish movement which could be the start of a Bullish trend. Be careful from the Divergence that has been found between the RSI And the Market that could be a reversal sign and the price has a very good chance to drop down. The Market does seem to be Turning Bullish with this push and we can see 2 different scenarios on how the market could move in the next few days. Bullish Scenario : The Coin is at 2.742346 right now, if the Bulls kept supporting this trend then we will see the market hitting the first resistance line at 2.565357, Notice with the Bulls power right now they shouldn't have any problem breaking out the first line, But the real Battle starts at the next resistance level at 2.675435 where the Bears will try to gain control back over the market and if they fail then the price will keep going up reaching the 2.771431 range. Bearish Scenario : We spotted a Divergence between the RSI and the Market this could be a Reversal sign and if that would to happen then the current trend will change and the price will drop down and it's going to be on its way to the first Support line at 2.359283 where the Bulls will try to retake control over the market and if they fail then we could be seeing a bigger drop and the market will be headed near the support area at 2.263287 - 2.153209. Technical indicators showing : 1) The Market is above the 5 10 20 50 100 200 MA and EMA (Bullish sign) 2) The MACD is above the 0 line showing that the market is in a Bullish state, with a positive crossover between the MACD line and the Signal Line 3) The RSI is at 78.79 sitting in the overbought zone, With a divergence between the indicator and the market, which could be a reversal sign. Support & Resistance points : support Resistance 1) 2.359283 1) 2.565357 2) 2.263287 2) 2.675435 3) 2.153209 3) 2.771431 Fundamental point of view : it seems like the “Alonzo” upgrade has a significant impact on investor sentiment. The upgrade is about smart-contract features and addresses what critics have called one of the network’s most glaring deficiencies. For instance, smart contracts have been a revolutionary strength in the blockchain industry. This is because they have allowed the creation of Decentralized Finance protocols, non-fungible tokens (NFTs). Also, a new form of carrying out trades without the need for an agent. Cardano (ADA) is one of the projects that have gained momentum throughout 2021. But now that the project’s long-awaited smart contract abilities are on the verge of becoming reality, the crypto is on the hill of setting new all-time highs. According to Coinquora This is my personal opinion done with technical analysis of the market price and research online from fundamental analysts for The Fundamental point of view, not financial advice. If you have any questions please ask and have a great day !! Thank you for reading.
KRAKEN:ADAUSDLong
by GabiDahduh
8
ADA 1D Careful with Longs, on Cardano Chart Positive FadingThe last time we made a global idea for the ADAUSDT pair was 3.5 months ago. We wrote that there will still be an increase in ADA to $2, but for this we need to wait a bit. You can check the result below. But now, looking at the global ADAUSD chart, we no longer like it. The most positive scenario that is currently visible on the chart is an increase to $1.50 . There we would recommend covering the longs and looking around. If sellers will be able to gain a foothold above $1.50 , then super, you can re-enter the position with them and continue to hold a long. But if the price drops to $1.20, then buyers will have to sweat a lot in order to raise the price up, and this will be the first sign of danger for longs. If sellers push the price down to $1.10, this will be the second warning signa l and will mean that buyers are losing control of the situation. In this case, sellers will seize control over the ADAUSD market, and then the red scenario will fully activate. The target of working off the fall , according to the red scenario, will be around $0.40. Someone will say that this is a terrible and unrealistic scenario, while someone, on the contrary, will gladly rub their hands, because there may be a good opportunity to buy ADA cheaply again in their investment portfolio. There is no 100% correct statement, but we must remember that everything is possible in crypto and only time will judge who was right and who was not) Have a nice weekend everyone, which is coming) _____________________ Since 2016, we have been analyzing and trading the cryptocurrency market. We transform our knowledge, trading moods and experience into ideas. Each "like under the idea and comment" boosts the level of our happiness by 0.05% . If we help you to be calmer and richer - help us to be happier :)
by P_S_trade
44
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
Cardano Inches Its Way Towards a Bullish Break Of Falling Wedge-ADA has held major support of $1.15 strongly -Price has formed a large falling wedge pattern -ADA has failed to hold its 30 day MA

 Cardano has had a rough last couple weeks as price has fallen nearly -25% to its major support. This price action was not out of the ordinary as the majority of the cryptocurrency market also fell as a result of BTC dropping to its $31,000 support level. Price has been stuck in a near 3 month downtrend as bears have not given up control. Although, there are some signs a trend change may be in the process. Shown in green, Cardano has been forming a falling wedge pattern the last 3 months. This pattern is similar to the one spotted on BTC & it is generally a bullish pattern. In the short term, bulls must break & hold the major resistance zone found at $1.20-$1.27 to have a shot at revival. If ADA manages to break & hold this mark, we can then say price is out of its falling wedge pattern in a bullish way. This will likely cause a push to major resistance of $1.34. If Cardano turns bullish in the short term, it must then tackle the 30 Day MA. This MA has held price down since the beginning of June. If bulls fail to do so, price will likely retrace back to its major zone of $1.20-$1.27. If this also fails, we can expect ADA to touch back to support of $1.20, $1.14 & $1.09, respectively. While looking at the RSI, we can see strength has been basically flat lined for months. This has created a descending channel like structure which needs a strong breakout to either side to have a confirmed trend change. The Stochastic RSI has been hanging out in oversold territory which is a sign a reset has occurred which may have set the stage for another bullish push. ADA intraday levels Spot rate: $1.21 Trend: Bearish Volatility: High
 Support: $1.15 Resistance: $1.27

by CoinGape
3