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"Cardano Signals Bullish Reversal with Chart Pattern"ADA Cardano: Analyzing the Potential Double Bottom Cup and Handle Formation ADA Cardano, a blockchain platform known for its focus on scalability and sustainability, is capturing the attention of traders and investors as it exhibits a compelling chart pattern that could signal a bullish reversal. With the emergence of a potential double bottom cup and handle formation spanning over the past year and a half, coupled with short-term support being tested for recent lows, ADA Cardano's chart dynamics suggest a bullish outlook. Understanding ADA Cardano ADA Cardano is a decentralized platform that aims to provide a more secure and scalable infrastructure for the development of smart contracts and decentralized applications (DApps). Founded by Charles Hoskinson, one of the co-founders of Ethereum, ADA Cardano has positioned itself as a leading contender in the competitive landscape of blockchain technology. The Double Bottom Cup and Handle Formation A double bottom cup and handle formation is a bullish chart pattern that typically occurs after a prolonged downtrend, signaling a potential trend reversal. The pattern consists of two low points (the "bottoms") separated by a peak (the "cup"), followed by a smaller pullback and subsequent breakout (the "handle"). In the case of ADA Cardano, the formation of this pattern over the past year and a half suggests that the cryptocurrency may be poised for a significant upward move. Short-Term Support and Recent Lows In addition to the longer-term double bottom cup and handle formation, ADA Cardano is currently testing short-term support levels near recent lows. This consolidation phase serves as a crucial juncture for the cryptocurrency, as it establishes a base from which a potential breakout could occur. The ability of ADA Cardano to hold above these support levels despite market volatility bodes well for its bullish prospects. Bullish Outlook The combination of the double bottom cup and handle formation and the successful testing of short-term support levels paints a bullish picture for ADA Cardano. Traders and investors are closely monitoring the price action, anticipating a potential breakout to the upside. Positive developments within the ADA Cardano ecosystem, such as the upcoming rollout of smart contract functionality through the Alonzo upgrade, further bolster confidence in the cryptocurrency's long-term prospects. Conclusion In conclusion, ADA Cardano is exhibiting a compelling chart pattern in the form of a double bottom cup and handle formation, spanning over the past year and a half. With short-term support being tested for recent lows, ADA Cardano's chart dynamics suggest a bullish outlook, with the potential for a significant upward move in the near future. As market participants eagerly await confirmation of the breakout, ADA Cardano remains a cryptocurrency to watch closely for potential trading opportunities and investment growth.
BINANCE:ADAUSDLong
by UnknownUnicorn2319099
ADA/BTC - CARDANO BREAK OUT WINDOW IS HERE CARDANO - CRYPTOCAP:ADA / BTC On Nov 1st I advised the following: ✅ A breakout in the window between 20th Nov - 29th Jan (could be shortened to the 8th Jan now). ✅ Bull trend confirmation = break above 50 SMA ✅Great risk/reward with stop under diagonal support Folks this could be the beginning of a long running upward move. A close above the 200 DSMA is confirmed and we are on the verge of a close above the 50 week SMA with this large 20% + move that ADA made today. If you were following me here or on TradingView you would have a position in place already that is in profit and with a tight stop under strong support protecting you against the downside. Early November I provided this chart and outlook because a window of opportunity was close. As a long term patient play ADA is still very much an option for new entries. Pull backs to the 200 DSMA or green zone are the most ideal entries, however as we are entering into the "breakout window" and we appear to be breaking out. If you do enter, always, always, always decide on and have a defined stop/get out level and stick too it. Write it down on the chart or a notepad. Stick to it. Protect yourself. For those in the trade since we shared, we are 40%+ in profit thanks to a little patience and good timing, and this is only the beginning of this trade. Don't let idle hands make you trigger happy, the trend might be upon us, don't pull the rug on your position as things are only starting to trend. PUKA
Long
by PukaCharts
5
Cardano's Explosive Potential: Targeting $1 and Beyond Cardano (ADA) is about to explode with potential, aiming for a target of $1 and beyond! Cardano, the blockchain platform that has been captivating the crypto community, is making significant strides towards becoming a force to be reckoned with. With its unique approach to scalability, sustainability, and security, Cardano has been gaining momentum, and the time to act is now. Why should you be excited? Here's why: 1. Unleashing the Power of Proof-of-Stake: Cardano's innovative proof-of-stake (PoS) consensus mechanism sets it apart from other cryptocurrencies. PoS offers scalability, energy efficiency, and reduced environmental impact, making it an attractive alternative to the energy-intensive proof-of-work systems. 2. Smart Contracts on the Horizon: Cardano is on the verge of releasing its much-anticipated smart contract functionality through the Alonzo upgrade. This development will enable developers to create decentralized applications (dApps) on the Cardano blockchain, opening up a world of possibilities for innovation and growth. 3. Embracing Sustainability and Regulatory Compliance: Cardano takes a responsible approach by prioritizing sustainability and regulatory compliance. Cardano aims to foster trust and attract institutional investors by ensuring compliance with global regulations, further driving its growth potential. Now, let's get down to business. It's time to take action and seize this incredible opportunity. Here's your call-to-action: Long ADA now and position yourself for the Cardano revolution! With all the exciting developments in the pipeline, Cardano is set to soar to new heights. By taking a long position on ADA, you can potentially ride the wave of success and reap the rewards. Remember, timing is crucial in the world of trading. As Cardano continues to gain traction and its value surges, you don't want to be left behind. Act now and join the ranks of forward-thinking traders who recognize Cardano's potential. So, what are you waiting for? Open your trading platform, place your long position on ADA, and get ready to witness the explosive growth of Cardano firsthand. Get ready to embark on an exhilarating trading adventure with Cardano!
Long
by bryandowningqln
1
Cardano Enters Buy with Strong Upward Channel - Time to Long ADAToday, I am thrilled to bring your attention to Cardano (ADA), as it enters a compelling buy phase with a strong upward channel. This is an exciting moment to seize, and I strongly encourage you to consider going long on Cardano. Let's dive into the details! Cardano, the third-largest cryptocurrency by market capitalization, has been displaying impressive bullish momentum recently. Its price has been steadily climbing within a well-defined upward channel, indicating a positive trend that traders like us simply cannot afford to miss. The consistently higher highs and higher lows demonstrate the market's confidence in Cardano's potential for further growth. The technical indicators for Cardano are also painting a promising picture. The Relative Strength Index (RSI) is comfortably positioned within the bullish zone, suggesting that there is still room for ADA to rally. Additionally, the Moving Average Convergence Divergence (MACD) indicator is showing a bullish crossover, further supporting the notion of an upward movement in the near future. Considering these factors, it is evident that Cardano has tremendous potential for significant gains. As traders, we must identify and capitalize on such opportunities, and Cardano's current market conditions provide an ideal chance to do so. Now, it's time for the call-to-action! I encourage you to take advantage of this bullish momentum and consider going long on Cardano. By opening a long position on ADA, you position yourself to benefit from the anticipated upward movement in its price. This could potentially yield substantial profits, allowing you to further solidify your trading success. Remember, successful trading requires seizing opportunities when they present themselves. Cardano's upward channel and positive technical indicators indicate a highly favorable environment for long positions. Don't let this opportunity slip away! As always, it is essential to conduct your own analysis and risk management before making any trading decisions. Keep a close eye on the market, set appropriate stop-loss orders, and continuously reassess your positions based on market developments. So, are you ready to embark on this Cardano trading journey with me? Let's make the most of this bullish trend and aim for remarkable profits! Wishing you a successful and prosperous trading experience!
Long
by bryandowningqln
Exciting Cardano Rallies with New Resistance Targets! Cardano (ADA) is on fire, and we have some thrilling updates to share with you. Get ready to long ADA and ride the wave of Cardano's incredible rally! Cardano has been making some serious waves in the market, and we couldn't be more thrilled. The recent rallies have been nothing short of extraordinary, with ADA showing remarkable strength and resilience. We're excited to announce that our expert analysts have set new resistance targets for Cardano, ranging from 0.38 to 0.41. Yes, you read that right - Cardano is aiming high, and it's time for us to join the party! Why should you consider long positions on Cardano? Well, let's take a moment to appreciate the immense potential this cryptocurrency holds. Cardano has been making significant strides in the blockchain space, with its innovative technology and commitment to scalability and sustainability. The recent launch of the much-anticipated Alonzo hard fork brings smart contract capabilities to Cardano, opening doors to a world of exciting opportunities. With the introduction of smart contracts, Cardano is poised to become a leading platform for decentralized applications (DApps) and DeFi projects. The market sentiment is overwhelmingly positive, with investors and developers alike flocking to Cardano's ecosystem. This surge in interest is fueling the ongoing rally, and we firmly believe that the momentum will only continue to grow. So, what's the call-to-action here? It's time to seize the moment and take advantage of Cardano's upward trajectory. Don't miss out on this thrilling opportunity to long ADA and potentially reap substantial profits. Our team of experts has carefully analyzed the market dynamics and set the resistance targets at 0.39 to 0.41. Now is the time to act, and we encourage you to consider opening long positions on Cardano. Remember, trading always carries risks, and it's essential to conduct your own research and make informed decisions. However, with Cardano's recent developments and the market sentiment in its favor, the potential rewards are simply too enticing to ignore. If you're ready to embark on this exciting journey with Cardano, we're here to support you every step of the way. Our team of experienced traders and analysts is available to provide you with valuable insights, market updates, and trading strategies to help you navigate the Cardano rally successfully. Don't let this opportunity pass you by! Long Cardano (ADA) now and join the ranks of traders who are capitalizing on this thrilling rally. Together, let's ride the wave of Cardano's success!
BINANCE:ADAUSDLong
by bryandowningqln
Cardano (ADA) is about to make a move the will stun people!Cardano not only has incredible utility, but it is massively undervalued at current prices. Most investors don't just hold ADA because of it's mind-blowing price appreciation potential, they hold it because they know that it will play a substantial role in the coming digital revolution. Even a novice can look at the current chart and see that something big is about to happen with this coin. I personally believe that no matter how large your crypto portfolio is that everyone should have at least 5% of their portfolio in Cardano. Remember tribe, stay diversified and never put all your eggs in one basket!
BINANCE:ADAUSDLong
by MetaShackle
ADAUSDT - Bottoms In, Bullish EngulfingHi Traders, Investors and Speculators of Charts 📈📉 ADAUSDT seems to have finally bottomed out at 23c or 21c, depending on the exchange you're using. This concludes the completion of the bearish Head and Shoulders pattern in the daily timeframe. After this long wick towards a major demand zone / support zone , there has been a bullish engulfing candlestick in the weekly timeframe which is extremely bullish for Cardano. We also observe a similar pattern playing out back in Feb 2020, when another long wick formed followed by a strong v-shaped recovery. This was the start of the next major bull run for Cardano. Is the bullish price action on Cardano as a result of the recent Hydra update? 🤔 _______________________ 📢Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎Hit like & Follow 👍 We appreciate your support ! CryptoCheck __________________________ CRYPTOCAP:ADA BYBIT:ADAUSDT.P BINANCE:ADAUSDT BINANCE:ADAUSD.P COINBASE:ADAUSD BINANCE:ADAUSD OKX:ADAUSDT.P KRAKEN:ADAUSD BINANCE:ADABTC
Long
by CryptoCheck-
48
ADAUSD BUYWelcome . Cardano is positive despite the market downturn. The currency has breached the bearish pennant with. Re-test the area. It also formed a very positive candle on the daily chart. There is a lot of pressure from the buyers to push the market higher. to 0.4000 in the first stage. And level 0.5000 good luck. Note: If you like this analysis, please give your opinion on it. in the comments. I will be happy to share ideas. And click "Like" so that everyone can reach the post and benefit from it and get free content. Thank you
Long
by inv_market09
12
ADA/BTC Cardano is too weak stay above this historical trendlineToday, I analyze the BINANCE:ADABTC Weekly chart, Logarithmic scale. Observe where price is sitting at the time of writing. It is sitting at the crossing of two trendlines and the 0.5 Fibonacci line. This conjunction may serve as a good support for price, meaning that price would not go below 1500 Satoshi ever again. However, that's the extent of bullish factors that I could find on this chart. Let me detail my Bearish factors: 1. The volume across the entire timeline of ADA is almost non-existent when price is above the the 0.5 Fib line. Consider the 0.5 Fib line as a separator between two zones of price action. Any price action above it I call high , and below it, low . Price has traded high for a total of 33 months. It has also traded low for the same number of months. So the trade time between high and low is almost equal. However, the volume is enormously skewed towards the low price action. You can see that on the volume profile appearing on the right side of the chart. Low-price action has 5 times the trading volume of low-price action. Bear in mind that the price axis is logarithmic, so our 0.5 Fib line sitting at 1523 Satoshi does not stand exactly at the middle price between All-time high (8788 Satoshi) and all-time low (266 Satoshi). So I can easily say that 80% of trading volume has occurred in the lowest 20% of prices, and the highest 80% of prices have only seen 20% of the trading volume. Therefore, the high prices carry no significance. Trendlines mean almost much less above the 0.5 Fib line. Using that reasoning, I predict that the two lines crossing below the current price will not stand as support and that price will break below them. 2. The more touches in a bear market to a trendline, the more probable it will break on the next touch. This principle is also validated by descending triangles. I can't see an exact descending triangle pattern here, but price has been in a bearish trend for 6 months now drawing lower highs and lower lows. But what about Fundamentals? People get easily excited about news bites such as "Solidity is coming to Cardano", "Haskell can now run on browsers", "Cardano's Formal Verification can catch devastating flaws that cost Millions". The reality is the world is not that black and white. Most investors have absolutely no idea what any of these news lines mean. What really matters is the psychology of the market, i.e., how the market feels about these news, thus Technical Analysis! On top of that, as a Haskell programmer and a Formal Verification specialist myself, I know full well the scalability challenges that come with such "positive" news. Ultimately, what drives price up is hype and survival instinct, not fundamentals. You can ride that wave up if you want, but when reality hits and the network clogs, some hack steals millions, or the hype withers away leaving Cardano once again a hulk in crypto space; it may be too late to implement your exit plan. So, what next? I anticipate price to revisit the lower rising trendline and stay in that zone to allow for redistribution/accumulation. In that phase, moving averages and oscillators like RSI will catch up. From there, we can revisit the Cardano chart to judge if it's ready for another boom. Keep an eye on this chart. Access it here .
by TechNerdOmar
Cardano - BTC Dominance Drops: ALTS RALLYHi Traders, Investors and Speculators of the Chart📈📉 Cardano looks like it's gearing up for a big move; currently consolidating under the resistance zone just like back in 2021 (which is bullish ). Apart from this Fractal that played out two years ago over the same period; I'm expecting altcoins to shine as BTC takes a breather. We can see that BTC dominance is dropping, meaning alts will have a chance to rally: Here's an update on Ethereum, also looking bullish : _______________________ 📢Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎Hit like & Follow 👍 We thank you for your support ! CryptoCheck
Long
by CryptoCheck-
37
ADAUSDT: Have the Bulls Finally Returned? 🫣| Jan. 20, 2023This week, we will stick to the 4-hour time frame to analyze ADA’s price action in detail. The bulls have finally returned after a month of the bears maintaining a tight grip on the bulls. ADA has rallied by over 40% in the past two weeks after the sharp reversal earlier this month. The coin broke the stringent resistance at $0.3 and was able to extend the rally to $0.37 before pulling back. After making good moves, ADA fell back to the support at $0.33. At the time of writing, it seems like the price has reversed from the support level, and we may see a continuation of the rally soon. If a strong reversal is seen from the current levels, the price will start approaching the resistance at $0.38 soon. Traders must maintain caution as ADA is still close to the support and there are still chances of a breakdown. If a breakdown is seen, expect the price to fall to $0.30! We will maintain a bullish outlook on ADA until it maintains its position above the support at $0.33. The important price levels for this week are $0.33 and $0.38!
by CoinMarketCap