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Cardano

Cardano (ADAUSDT) and its Potential RecoveryCardano (ADA) is a decentralized public blockchain and cryptocurrency project, built on a proof-of-stake consensus algorithm called Ouroboros. Since its all-time high of around $3 in 2021, ADA has experienced a significant downtrend, reaching lows of about 24 cents. The combination of a declining asset and declining Bitcoin (BTC) creates an ideal environment for a potential reversal. I will examine the possibilities of a Cardano recovery within the next few weeks, using technical analysis tools such as support and resistance levels, Fibonacci retracements, and Elliott Wave Theory. Key Levels and Fibonacci Retracement Analyzing historical price data reveals key support and resistance levels that can provide insights into Cardano's potential price movements. The 23.6% and 38.2% Fibonacci retracement levels are noteworthy in this context. While the $1.16 level is a significant resistance point, it is unlikely to be reached this year. The current target for an exit point in Cardano is around 60 cents. Although reaching the $1 mark is possible within 2023, it is more likely to occur towards the end of the year, if at all. It is essential to evaluate the market one day at a time and keep a close eye on Bitcoin dominance. If Bitcoin dominance drops significantly, this could create the perfect storm for altcoins like Cardano. Bitcoin Dominance Support The support level for Bitcoin dominance currently stands at around 40%. If Bitcoin dominance begins to fall to this level or break below, it could signal an opportune moment to stay invested in altcoins such as Cardano, and potentially delay selling until Bitcoin dominance finds support again. This shift in dominance could lead to substantial gains for Cardano and other altcoins. Elliott Wave Theory Perspective From an Elliott Wave Theory standpoint, Cardano's price movement appears to be corrective so far. To confirm an ongoing bullish wave 3, ADA would require a significant push to the upside. Traders and investors should continue to monitor the market's behavior, especially around key dates such as the full moon on April 6th, which could potentially impact market sentiment and price action. The Elliott Wave Theory also offers valuable insights into the potential for a bullish reversal, but it remains crucial to monitor the market and adapt strategies accordingly.
Long
by bitdoctor
4
🔥THE MOST INTERESTING AREA TO OPEN A LONG: 3 POSSIBLE TARGETS🔥Hi, friends! Cardano returns inside the value area. We need the breakout and test the $0.37-0.38 value area as the support to continue the growth. 📊 MY TRADING PLANS FOR ADA: 🔥pullback to $0.32-0.33 value area 🔥volume growth which confirms the bottom for us 🔥bullish BTC 🚩 If ADA will hold the $0.37-0.38 value area, the price will go straight to local highs. This is a second possible scenario. ✅ MY TARGETS FOR ADA: 1. $0.37-0.38 - the value area 2.$0.42 - the local high and key level 3.$0.52 - the key level 💻Friends, press the "boost"🚀 button, write comments and share with your friends - it will be the best THANK YOU. P.S. Personally, I open an entry if the price shows it according to my strategy. Always do your analysis before making a trade
by Yuriy_Bishko
7
CARDANO C&H☕ - Whales are Awakening 🐋🌞Massive breakout yesterday and 0.356 is now support we can 'build upon'. That means a stop loss under 0.35, yes. News: On-Chain Data Shows Huge Whale Activity – What Do They Know? Despite the chart not looking great compared to others, on-chain data is more optimistic, particularly as it reveals an uptick in the number of “whales” transacting on the Cardano blockchain. Specifically, the number of ADA transactions that exceed $100,000 on the Cardano network is on the rise. 🐋 This trend indicates institutional investors' and $ADA whales' increasing engagement, shedding light on their investment strategies. At the same time, a MASSIVE Cup and Handle shows potential for 14$ ADA by end of 2025. One Love, The FXPROFESSOR PS. At the same time, my buddy Hoskinson seems to be awakening as well. Thumbs UP Charles
Long
by FX_Professor
8
Movements for mid- to long-term trend reversalHello? Traders, welcome. If you "Follow", you can always get new information quickly. Please also click "Boost". Have a good day. ------------------------------------- (ADABTC 1W chart) In order to continue the uptrend, the price needs to be maintained at least above the HA-Low indicator. I think that below 0.0000 1641 is a mid- to long-term investment area. Therefore, the key is whether it can rise above 0.0000 1641 and above the HA-Low indicator. ---------------------------------------- -------------------------------------------- (ADAUSDT 1W Chart) Since the HA-Low indicator is passing around 0.2974, if the price is maintained above this point, it is a mid- to long-term buying period from a trading perspective. However, if it drops below 0.2974, that is, the HA-Low indicator, there is a possibility of renewing the recent low, so you need to think about countermeasures. As the Bollinger Bands begin to contract, being able to keep the price above 0.2974 becomes more important. (1D chart) It can be seen that the highs and lows continued to decline, and the trend was broken after around December 30, 2022. Therefore, if the current trend is maintained, it is expected to turn into an uptrend. To do so, it is important to get support around 0.3206, the point of the HA-Low indicator. If unsupported and falling, 1st: around 0.3032 2nd: 0.2524-0.2772 You need to make sure that it is supported in the vicinity of the 1st and 2nd order. The question is whether it can rise above 0.3448 during the volatility period around March 22nd. Mid-term and long-term trend reversal can take a long breath. Therefore, those who want to buy ADA for next year's bull market can refer to this point and proceed with the purchase. -------------------------------------------------- ------------------------------------------- ** All descriptions are for reference only and do not guarantee profit or loss in investment. ** Even if you know other people's know-how, it takes a considerable period of time to make it your own. ** This is a chart created with my know-how. ---------------------------------
by readCrypto
1
✴️ Cardano Also Starts To Recovery | The Chart Speaks!The same as with XRPUSDT published just now, ADAUSDT is moving back above EMA10/21/50. It is now challenging EMA100 and MA200 is a bit further away. We are still in the recovery phase from the recent correction. As soon as prices move above the local resistance, the next leg up can resume with force. What about bears? Yes, the market conditions can change but we have to always take into account the bigger picture. When you are witnessing a bear market, you can say that prices can go up anytime but they don't go up, you get lower highs and lower lows. On the other hand, if you are experiencing a bullish wave you can say that prices can drop anytime but that is not the point, you are supposed to get higher highs and higher lows or else you are not looking at a bullish wave instead a bearish one. The bullish wave confirmed January 2023 and the recent higher low. If the last low 10-March breaks down, the bullish bias remains intact and that's how technical analysis works. The only way for us to turn bearish is if Cardano (ADAUSDT) hits a new low compared to 29-December 2022. That's the bigger picture. If you look at the charts short-term, everything you are reading or anything you see now can change in a matter of hours or days. But if you zoom out and take into account the entire cycle, you can see that Cardano broke its downtrend a while back, hit a multi-year low and started to grow in 2023 and we are within this current growth/recovery phase. The December low is the invalidation point. Any trading above this level and we are 100% bullish, technically speaking. We follow the markets. We read the charts. The chart is saying in plain English, or chart language, be patient we are going up. Buy and hold. Namaste.
Long
by AlanSantana
1
Cardano (ADA): small potentialPrevious week was generally positive for the crypto market, regardless of the fact that very unfortunate events led to this surge in prices. Although the price of ADA did not make some extraordinary jump in value on the weekly level, still, it is positive to see that this coin has its own audience of investors, waiting for the moment to get back into this coin. During the previous week ADA was moving in a range of $0.31 up to $0.36. Still, the coin is finishing the week around the $0.35 resistance line. The RSI was modestly pushed above level of 50, reaching the 55, indicating that the market is just gearing for the overbought side. Interesting development with MA50 and MA 200 is continuing for the last three weeks, as both lines move together as a one line, still missing to provide clear view, if the cross actually occurred or not. With the start of the week ahead, ADA will continue to test the $0.35 resistance line. In case that there is market strength for a move to the higher grounds, then level of $0.37 might be a next target. However, in case of a short reversal, the coin might again look at the $0.32 level.
COINBASE:ADAUSD
by XBTFX
✴️ Cardano's Full Potential Revealed (240% to 345%)We always have so much data to look at that it is easy to predict where the market is going. It is easy to find the end of a correction and also the start of the next wave. It is not easy to predict exact timing or targets but the direction should be enough if you are here to trade. Last week we closed with a hammer, this is repeated across the entire market, many are moving ahead. We see this week green for Cardano, volume going higher. Green volume moves up, red volume tends to be low. We've been looking at it up close and thus the potential small. We are active with 10x although we do not recommend leveraged trades, only experts should do it. Beginners should trade spot and once successful can decide to upgrade. If you look at FETUSDT, it already hit its January 2022 price and is consolidating for more. What one does, the rest follows... So, if we match ADAUSDT January 2022 price that would be around $1.33. We like to be conservative, just not to get greedy and thus let's say that the next target is $1.17. Sell portions at each target, always leave something behind in case it goes higher... If you are playing the game, you know what I mean. Buy and hold long-term, yes, I know you are also around... I just decided that I will hold through the next bear market, in fact, I will buy to support the market. That's in late 2025 and 2026. I will buy everything you guys sell and hold for years until the next wave... Somebody has to do it. Namaste.
Long
by AlanSantana
7
#ADAETH - Rejection Off Top Trend Line Incoming?It looks to us like #CARDANO is about to hit some resistance and reject to the downside against #ETHEREUM. Price has been caught in this closing wedge for some time and we're going Short once again off this top trend line. There is one layer of support going through this wedge which could be a good place to take some profits, but we'd also like to keep some of the trade open for further drops to the lower edge of this wedge. If you enjoyed or agree with this idea - drop us a comment, like & follow! 😀 Ideas by theCrypster meet the guidance notes and disclaimer as mentioned below and within our website. See Signature for more info! ✌️ 🔥🔥🔥 Crypto Tipster v2 theCrypster
Short
by theCrypster
3