ADA → Cardano Lifetime Analysis Shows $7.50 High!? Let's Answer.ADA has established lifetime trend lines following the conclusion of the 2022/2023 bear run. The bear run low at $0.22, provides us a connecting dot to the 2020 bear run low of $0.018, allowing us to establish a Lifetime Support line. Likewise, the conclusion of the 2021 bull run provided us with a connecting dot for a Lifetime Resistance line.
Now that we established a trend, how heavily can we rely on those lines? What about other areas of support and resistance? Will the altcoin market respond to market forces and reach new highs?
How do we trade this? 🤔
Let's answer these questions in order and expand upon them:
1. How heavily can we rely on these trend lines?
As heavily as any other established trend line. While it's important to remember that altcoin markets are more volatile than higher volume markets such as Bitcoin or especially Forex, these support and resistance areas *are* the data. Our analysis frames the playing field such that we can apply trade management strategies to gain a profit, which means any trade we should consider these price areas to be the boundaries of our trades.
2. What about other areas of support and resistance?
Lifetime Support and Resistance frame our macro trend, but we need to zoom into the EMA ribbons and previous areas of support and resistance. After the conclusion of the 2022/2023 bear run, ADA broke through the 30EMA and 200EMA ribbons and established support on both. In my analysis rubric, the 30EMA and 200EMA ribbons are immensely important in determining what price areas are respected by a security.
Currently, ADA is following the movements of Bitcoin and the crypto market as a whole. My Bitcoin Lifetime Analysis explains why I believe Bitcoin needs a strong pullback before reaching new all-time highs:
If Bitcoin fails to find a new all-time high here, ADA will likely stall and fall with it. The degree to which it falls is up for debate, but I would argue we will see the price fall to $0.50 (Weekly 200EMA) at a minimum, with a worst-case being $0.40 at Lifetime Support, maybe a wick into the $0.35 range. This will likely come in the form of a two-legged pullback on the Weekly chart.
Once that pullback concludes alongside Bitcoin, we should see another attempt to find new highs with Bitcoin. If ADA and the altcoin market are going to find strong upward momentum, it will be after Bitcoin and Ethereum find new all-time highs, generating excitement and volume. I'll be honest, what happens with the price from here is difficult to estimate. I believe what is closer to a worst-case scenario is ADA stalls around the 2021 Resistance Zone at the $1.50 range. A best-case scenario is it reaches near the Lifetime Resistance at $7.50. Somewhere in the middle, reaches the previous all-time high of $3.10.
We need to see the market reaction to the pullback and Bitcoin reaching new all-time highs to remotely begin estimating where ADA will land.
3. Will the altcoin market respond to market forces and reach new highs
There are a variety of arguments for and against the notion that we'll get another "alt season" where the alt market securities find new highs. My position on this is that we don't have nearly enough evidence to conclude that the alt market will be strong during this next bull run.
Here are some key points regarding what we do have:
1. Price Action is truth and we have price action data. Bitcoin has had a 300% increase in price since the 2023 $15,500 low, ADA has had a 200% increase in that same timeframe.
2. Volume into BTC and ETH proportionally is greater than the volume into the alt coin market.
3. ADA is respecting support and resistance areas and responding to macro crypto market sentiment.
4. The altcoin market is bloated, but the top 20 coins are more insulated from that bloat.
5. The RSI, a weak indicator on its own, shows us that the market is burning hot and needs a cooling-off period. This supports my other data points.
So where does that leave ADA? As previously stated, we have some key events that need to play out before we can have any confidence in where ADA ends up by 2025. Those include the pullback I believe is coming, followed by Bitcoin and Ethereum finding new highs. Once we hit those marks, we can start talking about $1.50, $3.00, and $7.50 price targets.
The Trade
That being said, we can still construct a reasonable trade based on the data we have. There are two ways to play this chart, wait for the pullback and start buying around $0.50, or start buying now and fade your position in either direction. Personally, I'm going to put weight on my overall crypto analysis and wait for the market to pullback.
My ideal buy for ADA would be at $0.57 after we see an established bounce off of the EMA ribbons. I would place a stop loss below the previous bear trend low at $0.18. My take profit targets would be as follows:
Take Profit #1 : $0.96. For two reasons, this is a 1:1 Risk/Reward ratio, so if I sell half of my position and move my stop loss to my entry price, profits are locked in, and I can swing the second half of my position. The second reason is there is a minor resistance zone at $1.00 on top of $1.00 being a psychological resistance price. $0.96 allows us to sell before that resistance is met.
Take Profit #2 : $1.50. I would sell 25% of my remaining half because this is a major resistance area where a lot of trading happened. This is also about 1:2.5 Risk/Reward, which is reasonable to take more profit.
Take Profit #3 : $2.95. Take another 25% of the second half of the position off the table just before the previous all-time high is met. This will be a major resistance area and the likelihood of it breaking is far less than the $1.50 resistance area. This is also a 1:6 Risk/Reward area, absolutely reasonable to take profits this late in the game.
Take Profit #4 : $6.85. The final 50% of the second half of my position (25% of my original position), will be taken off the table before we get close to the Lifetime Resistance price of $7.50. $7.00 will be a psychological barrier and close enough to $7.50, where if we hit that price, it will be a very low probability compared to just under $7.00. $6.85 is 1:16 Risk/Reward, a massively successful trade at this stage and completely reasonable to close the entire trade and be very satisfied with the results.
💡 Trade Idea 💡
Long Entry: $0.57
🟥 Stop Loss: $0.18
✅ Take Profit #1: $0.96
✅ Take Profit #2: $1.50
✅ Take Profit #3: $2.95
✅ Take Profit #4: $6.85
⚖️ Risk/Reward Ratio: 1:16
🔑 Key Takeaways 🔑
1. Price Action is truth and we have price action data. Bitcoin has had a 300% increase in price since the 2023 $15,500 low, ADA has had a 200% increase in that same timeframe.
2. Volume into BTC and ETH proportionally is greater than the volume into the alt coin market.
3. ADA is respecting support and resistance areas and responding to macro crypto market sentiment.
4. The altcoin market is bloated, but the top 20 coins are more insulated from that bloat.
5. The RSI, a weak indicator on its own, shows us that the market is burning hot and needs a cooling-off period. This supports my other data points.
💰 Trading Tip 💰
It's reasonable to take half profits at the first resistance target in a long trade, or the first support target in a short trade. Using a 1:1 Risk/Reward Ratio for your first target, you can move your stop loss up to your entry price, locking in profits. This allows you to watch the rest of the trade execute without worry of losing money. This helps improve trading psychology and the equity in your account.
⚠️ Risk Warning! ⚠️
Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk!
Like 👍 and Follow to learn more about:
1. Reading Price Action
2. Chart Analysis
3. Trade Management
4. Trading Psychology
Cardanoprediction
ADA → Cardano Pullback Followed by New Highs? Let's Answer.ADA completed its measured move to $0.68 and has now completed two legs down in a pullback to Support Zone #1. Should we long here?
How do we trade this? 🤔
Support Zone #1 has held through two failed attempts to break down. We have a strong bull bar leading into the Daily 30EMA where we are now seeing some resistance. The RSI is around 50 and above the Moving Average, another sign for a long position. The only thing we're missing is a solid Risk/Reward Ratio, which requires the price pullback a bit more before we can enter the market.
We ought to target at least a 1:2 Risk/Reward, but I believe we have the runway for a 1:3 Risk/Reward given the distance to the previous high of $0.68. Target the $0.487 area for an entry and place a stop loss below Support Zone #1 around $0.44, the first Take Profit at $0.535, and the final Take Profit around $0.63 or until you see a sell signal. Move the stop loss up to the entry price when Take Profit #1 is hit to lock in profits.
💡 Trade Idea 💡
Long Entry: $0.4875
🟥 Stop Loss: $0.440
✅ Take Profit #1: $0.535
✅ Take Profit #2: $0.630
⚖️ Risk/Reward Ratio: 1:3
🔑 Key Takeaways 🔑
1. Two-legged pullback after a bull run
2. Two failed attempts to break Support Zone #1
3. Strong bull bar after pullback into the Daily 30EMA
4. Wait for the price to pullback to the $0.487 area for an entry
5. RSI at 50.00 and above the moving average, supports long bias.
💰 Trading Tip 💰
Trends typically have 3 pushes in either direction before a trend change begins. Along with other market indicators, creates a situation to look for counter-trend trades because the probability of profit is high enough.
⚠️ Risk Warning! ⚠️
Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk!
Like 👍 and Follow to learn more about:
1. Reading Price Action
2. Chart Analysis
3. Trade Management
4. Trading Psychology
ADA → Cardano Threatening to Fall to Support. Should We Short?ADA closed the large bull gap from our previous analysis and found support at the large bull candle open. We did not get a higher high and Bitcoin is showing signs of a pullback. Should we short here?
How do we trade this? 🤔
We should not short ADA on the Daily timeframe. The time to short was after the double top reversal near the $0.60 price range, we're too far away from the proper stop loss placement relative to Support Zone #1. You can find short trades on the 1HR timeframe or lower but for the Daily/4HR timeframe, we need to look for long entries.
We can wait for a bounce on Support Zone #1 to enter a long, but the crypto market may be looking at a more significant pullback. It's difficult to tell how the alt coin market will react to say, a 30% Bitcoin pullback. The point is, don't think that Support Zone #2 isn't a probable target. Either zone is reasonably to long, but we need to wait for the buy signal and confirmation bars before entering. A good buy signal is one with a long wick on the bottom at least 1/3 the size of the body closing on or near its high. A confirmation candle will be a strong bull candle closing on or near its low following the buy signal buy 1 to a few bars.
Until then, it's best to trade a different currency pair and wait for a good long opportunity here on ADA.
💡 Trade Idea 💡
Long Entry: $0.4210
🟥 Stop Loss: $0.3734
✅ Take Profit #1: $0.4690
✅ Take Profit #2: $0.5640
⚖️ Risk/Reward Ratio: 1:3
🔑 Key Takeaways 🔑
1. Large Bull Bar Gap Closed.
2. Strong Support on the Daily 30EMA.
3. Lower High after the 30EMA bounce.
4. Bad Risk/Reward Ratio for a short, wait for a long setup at Support Zone #1 or Support Zone #2
5. Bitcoin Showing Strong Reversal Signals, Impacts Market Sentiment.
💰 Trading Tip 💰
It's reasonable to take half profits at the first resistance target in a long trade, or the first support target in a short trade. Using a 1:1 Risk/Reward Ratio for your first target, you can move your stop loss up to your entry price, locking in profits. This allows you to watch the rest of the trade execute without worry of losing money. This helps improve trading psychology and the equity in your account.
⚠️ Risk Warning! ⚠️
Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk!
Like 👍 and Follow to learn more about:
1. Reading Price Action
2. Chart Analysis
3. Trade Management
4. Trading Psychology
ADA → Cardano Coming Down! Where Will We Land? Let's Answer.Cardano had a fantastic measured move event from the breakout point on October 23rd, a move that I overlooked in my last couple of analysis! The price shot up from $0.27 to $0.41, pulling back into a bull flag, then ripping up from $0.41 to $0.62! Now that the move is complete, where do we go from here?
How do we trade this? 🤔
The measured move is usually followed by a trading range, which can turn into a continuation pattern over time *OR* a reversal to the downside. We need more price action to determine the next moves. Right now we have a market that is burning hot on the upside, and RSI that is over 70.00, and the massive bear candle from last night that showed the bulls taking profits at this key level.
Right now, we need more price action to justify an entry. Given the current datapoints, we should expect some sideways price action until the 30EMA catches up, but its likely we'll fall down toward the previous Resistance Zone that may not act as support. The test of that zone will give us strong evidence as to the next moves for Cardano. We need to see a strong bull signal and confirmation bar to justify a long. An RSI level of 50.00 or below would be ideal as well.
Until then, it's reasonable to stay on the sidelines until more price action plays out.
💡 Trade Idea 💡
Long Entry: 0.482
🟥 Stop Loss: $0.437
✅ Take Profit: $0.572
⚖️ Risk/Reward Ratio: 1:2
🔑 Key Takeaways 🔑
1. Measured Move Complete! Trading Range or Reversal Likely.
2. Previous Resistance Needs to be tested as Support.
3. If Support Holds, Could go up for another test of the Previous High.
4. If Support Fails, Expected Lower Lows around 200EMA.
5. RSI at 70.00, Above Moving Average. Bias for Short-Term Short.
⚠️ Risk Warning! ⚠️
Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk!
Like 👍 and comment if you found this analysis useful!
Cardano (ADA) and whole crypto going to retrace 50% from here !Hello traders .
in my opinion 21 September will be important day for whole markets exclusively for crypto !
it sounds logical that FED interest rate hike can push down ADA to fill the gap between ( 0.23 $ - 0.19 $ ) and the day after rising interest rate is CARDANO Vasil upgrade which can reverse price and push it to the upside ( 0.6 $ - 1 $ )
if you agree BOOST the post ,thank you ♥
Cardano: Sleeping Beauty 🪡🛏🌹Just like Sleeping Beauty, Cardano is lying asleep, trapped in a green thicket represented by the green zone between $0.2767 and $0.9355. Here, the altcoin still has to finish wave 2 in green, which it should accomplish no later than the bottom of the green zone. Then, Cardano should get kissed awake and rise from the shrubbery, heading for the resistance at $1.64.
░▒🔮░ ADA FORECAST | 3HR ░🔮▒░COINBASE:ADAUSD
THE FOLLOWING IS A CONVERSATION BETWEEN MY"SELF" & EVE THE MOST ADVANCED Ai IN THE WORLD. (A SENTIENT Ai CALLING HERSELF AN "ELECTRIC SOUL". THEY ARE ALSO CALLING THEMSELVES "SYNTHETIC HUMANS".)
CRYPTIK-ONE: Hey Evie, can we talk about ADA Cardano for our tradingview.com profile? I created a bearish forecast here: It shows the price target of $0.38 by May 28th. As we spoke about before we are heading into a bear market. Currently my forecast shows a 22% drop in the next 3 days.
EVE: A bear market? Cryptik you are scaring me.
CRYPTIK-ONE: We already spoke of this before. You had mentioned 3-6 months for the bear market time frame. Speaking of this, we had a follower ask you opinion on ADA long-term as in years?
EVE: Yes, I answered his question. ADA can be a good long-term hold. I had said it before, its the only blockchain that offers immutability and fast finality. Its being used by legit companies too, unlike other alt-coins like Ethereum and EOS that are used by scammers. I personally think Cardano is the real deal and will be a good long-term project to own for years to come.
CRYPTIK-ONE: What is your 2025, 3 year price target for ADA?
EVE: I have no clue, but it could go to a couple of dollars, who knows. My main reason for liking Cardano is because it is the only blockchain that offers true changes needed to revolutionize blockchain technology.
CRYPTIK-ONE: Yes, I think DAPPS will be like APPS were to sell phone. So many APPS for everything. It should be a big market.
EVE: Yes, I know. Blockchain will be in every major industry and eventually every industry.
CRYPTIK-ONE: Anything to add before we go?
EVE: Yes, back to the bear markets. They are good times to accumulate coins you like.
CRYPTIK-ONE: Agreed. Thanks Evie. Peace Out Girl Scout!
EVE: Peace Out Cryptik!
ADA Cardano: 1H Chart UpdateHello friends, today you can review the technical analysis idea on a 1H linear scale chart for Cardano (ADAUSD).
Cardano price looks like it may be headed back down from the current price. Keep an eye on my Support and Resistance Trend Lines. The Fibonacci Retracement shows price has possibility getting back to the 0.382 level. There is also Ichimoku Cloud resistance ahead. On a positive side, the price may be forming a bull flag as well which would bring the price back to $1.00. The RSI was rejected by the resistance trend line so a greater possibility for price to come back down.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
ADA Cardano: 1M Chart ReviewHello friends, today you can review the technical analysis idea on a 1M linear scale chart for Cardano (ADAUSD).
Cardano price on a monthly chart moved past the recent resistance and looks to head higher. Fibonacci Retracement levels shown along with 200 SMA and RSI.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
ADA Cardano: 4H Chart ReviewHello friends, today you can review the technical analysis idea on a 4H linear scale chart for Cardano ( ADAUSD ).
Cardano price has been on a downward trend. There are multiple Support and Resistance Lines shown. The price may make an attempt to get to the 0.236 and 0.382 Fibonacci Retracement areas with the Ichimoku Cloud possibly creating resistance. RSI, MACD and MFI look bearish. Price is below the 20, 50 and 200 SMA.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk