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Cardanousd

Cardano consolidating 4hrCardano could be considered one of the hottest crypto's on the market. Over the last few months it's hit a few milestones. Staking went live along with full decentralization Coinbase and Coinbase Pro added it thus giving it more mainstream exposure The Ethiopia deal was confirmed (www.coindesk.com) SundaeSwap ISO is getting a date and time for their "Initial Pool Offering" where users can stake their ADA for Sundaetokens to power their Defi Exchange (similar to Uniswap) Knowing this we've seen Cardano remain resilient throughout these recent market sell-offs. We continue to see higher low's on the 4hr chart along with some sideways action and low volume (Accumulation). I do not have a particular target date for when Cardano will break up but I will be monitoring the Sundaeswap ISO announcement (supposed to be within the next day) and see if there is any correlation between their announcemet and ADA price action.
BINANCE:ADAUSDLong
by tired_man_willis
2
ADA on the brink of explosive move to $2.4Cardano has been nurturing an uptrend since the initial downswing to $1 in May. The first recovery attempt almost brushed shoulders with $2, but another correction ensued almost immediately. The cat and mouse game continued between the bears and the bulls, with the resistance at $1.8 capping movement. On the downside, bulls have kept growing more assertive, explaining the higher low pattern on the four-hour chart. Cardano draws nigh to an ascending triangle breakout The upcoming smart contract token has kept investors’ interest on the roof, particularly with all the developments on the network. Note that the horizontal resistance at $1.8 formed the ascending triangle’s x-axis. Similarly, the higher lows formed the hypotenuse, implying that bulls are gaining traction. An ascending triangle is a highly bullish pattern in technical analysis. Eventually, a breakout occurs before the trend lines converge. Low volumes characterize the period of consolidation within the triangle. However, a surge in trading volume marks the breakout, as bulls take advantage of the expected upswing toward $2.4. Cardano’s uptrend has been affirmed by short-term bullish signals from the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI). The former recently returned to the positive region while the MACD line maintains the divergence above the signal line. Subsequently, the RSI almost hits the overbought region, hinting at an intense bullish grip. Therefore, a break above $1.8 (triangle’s x-axis) may catapult Cardano toward the target of $2.4. Cardano intraday levels Spot rate: $1.75 Trend: Bullish Volatility: High Support: $1.6, $1.3 and $1.3 Resistance: $1.8 and $2.2
COINBASE:ADAUSDLong
by CoinGape
1
Cardano price holds steady ahead of smart contracts rolloutCardano immediately swung into recovery following the massive dip to $1. The upswing was sharp and consistent but hit a barrier at $1.8, which curtailed the planned strike past $2. ADA had traded all-time high highs around $2.5 in mid-May. In the meantime, the upcoming smart contract token is trading at $1.66. Marginally beneath the prevailing market value, ADA holds onto crucial confluence support at $1.6 created by the 50 Simple Moving Average (SMA) and the 200 SMA on the four-hour chart. Keeping this anchor zone protected is critical for sustaining the uptrend; otherwise, if lost, massive declines would come into the picture, forcing Cardano to explore the rabbit hole back to $1. Cardano's journey to smart contract capability nears the end Input Output Global (IOG), Cardano's developer, has announced the final steps that would lead to the beginning of smart contract support on the platform. A hard fork combinatory event referred to as "Alonzo" will be used to implement the features starting in June and leading to full deployment in September 2021. In addition to the typical smart contracts that require technical knowledge, IOG plans to introduce an app that nearly anyone with an interest in blockchain can use. What next for ADA as the price stabilizes? Cardano is teetering between two key levels; the confluence support at $1.6 and the resistance at $1.8, as highlighted by the 100 SMA. The technical outlook in the four-hour timeframe hints at the trend flipping bearish in the near term. For instance, the Moving Average Convergence Divergence (MACD) has hit a snag in the positive region and appears to be retreating toward the mean line. If the MACD line crosses under the signal line, a sell signal will be triggered. The downtrend has been reinforced by the Relative Strength Index (RSI) correction toward the mean line. However, the support at $1.5 can hold and may see the resumption of the uptrend. If the breakout above $1.8. Trading past this hurdle may trigger massive buy orders as bulls speculate the rise back to $2.5. Cardano intraday levels Spot rate: $1.63 Trend: Short-term bearish bias Volatility: Low Support: 1.6 and $1.4 Resistance: 1.8 and $2
BINANCE:ADAUSDLong
by CoinGape
2
ADA, Cardano - 2 scenarios with a clear goal🔨ADA broke the trendline on 1h timeframe. In the first scenario, the price will do an impulse after the breakout of the 1,65 level. In the second scenario, the price can retest trendline(good entry point) and go up to 1,9. Be careful and trade only on spot. Write in the comments all your questions and instrument analysis of which you want to see. Friends, push the like button, write a comment, and share with your mates - that would be the best THANK YOU. P.S. I personally will open entry if the price will show it according to my strategy. Always make your analysis before a trade
by Yuriy_Bishko
15
Cardano is on track to complete elliot wave cycle to $3+Big pump before BTC crash - ADA holders are unfazed. Technology is finally catching up to the $1 hype from 2017. It was funny seeing crypto twitter buy the dip all the way down to $.05 during crypto winter, but the strong hands prevailed and was handsomely rewarded. I expect NVDA stock split stock to save ETH and carry BTC back to $50k (BTC is currently at $38k). Elon and friends had a fun time stop loss hunting and grabbing cheap coins. Energy consumption attack on BTC was a nice way to pump ADA to create higher support before they dumped the BTC. We should see overall crypto market higher next month as May BTC future contracts come to an end this week. final target of full elliot wave cycle on ADA with BTC at $50k should take ADA to $3+. Let's take profits after NVDA splits in July.
Long
by FleurdelisFX
1
Cardano price technical breakout sets out for 60% rallyCardano had an interesting last week whereby it rose into the fifth spot on the market despite the freefall in price. The staking platform boasts of a market cap of $48 billion and trails immediately behind Binance Coin. The trading last week was gruesome not only for ADA but the entire crypto market. From the recently traded all-time high of $2.5, ADA plummeted to the support at $1.1. However, the downswing appears to have allowed more investors to enter the market at a lower price, explaining the reflex recovery to $1.6. Moreover, a highly bullish pattern is formed on the chart and is likely to bolster Cardano significantly. Cardano bulls focus on sustaining a falling wedge pattern breakout The recovery included the breakout from the falling wedge pattern stalled within a whisker of brushing shoulders with $1.6. Perhaps the overhead pressure came from the resistance at the 200 Simple Moving Average. It is apparent that bulls are fighting to hold at higher support, a move that ensures that buyers the uptrend is not sabotaged. The falling wedge is a highly bullish pattern, with a target at $2.2. Meanwhile, Cardano must bring down the resistance at the 200 SMA on the four-hour chart and close the day above $1.6 to validate the anticipated liftoff. The Moving Average Convergence Divergence (MACD) has a bullish outlook, cementing the prevailing technical picture. Looking at the other side of the picture The Relative Strength Index (RSI) emphasizes the growing overhead pressure following the rejection at $1.6 and the 200 SMA. Its retreat below the midline is a vivid bearish picture that cannot be ignored. Therefore, investors should be prepared for the bearish leg to extend to $1.4 and $1.1 levels, respectively. Cardano intraday levels Spot rate: $1.5 Trend: Short-term bearish bias Volatility: Expanding Support: $1.4 and $1.1 Resistance: The 200 SMA, $1.6 and $1.8
COINBASE:ADAUSDLong
by CoinGape
5