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ADABEARUSD trade ideas

ADAUSD: The case for one dollar CardanoThis is an Elliott Wave analysis of the ADA token of the Cardano project. Many supporters of the project hype fantastical prices for the coin in the next year or two. I have heard prices of $1, $10, $11, even $32. What is realistic? The Elliott wave principle provides tools for forecasting, based on the existing price record. The first step is the identification of Elliott waves in the appropriate wave degrees. This shows the existing record from this years market bottom. Accordingly, the coin has completed waves one, two, three, and four of the current advance, and appears to be entering wave five for the final leg of this wave. Of course there is no way to know just how far the fifth wave may grow, but given the large extension of the third wave, it appears within the realm of possibility to reach one US dollar in the foreseeable future. Growth beyond that would require substantial correction in a second wave, before anymore appreciation could be expected.
BINANCE:ADAUSD
by unbeldi
18
Cardano (ADA) is setting up perfectly for the Bull MarketCardano BINANCE:ADAUSD is setting up perfectly for the Bull Market ADA has been consolidating for the major part of 2023 and has been in a significant downtrend since early 2022. We finally have the signs that the downtrend and consolidation is over and a bullish trend can begin. Technical Analysis: 1) Breaking and re-testing the descending triangle 2) Bullish Volume is entering 3) TraderMagz Flagship Indicator - ATR God has triggered a buy after printing a Sell back in 26th Nov 2021 @$1.38. The last Buy was on the 25th May 2020 @ $0.07 4) Bitcoin halving is in April and we are seeing significant bullish momentum in Bitcoin and other Altcoins 5) TraderMagz - Divergence God has printed multiple divergences, Indicating strong probability that the weakness has ended Fundemental Analysis: 1) Cardano has been building throughout the bear market - with significant milestone accomplishments being achieved 2) Total Value Locked (TVL) in both USD value and ADA tokens has soared over the past year and is accelerating 3) Multiple new protocols are launching every week and there are more on the horizon 4) Midnight Airdrop has been announced and is highly anticipated - more details to follow 5) Cardano is one of the most decentralized blockchains and the technology behind Cardano is rapidly improving. (Mithral, Hydra, on chain governance) Price Targets/ Trade Setup: Entry : between $0.25 and $0.4 - Current price is $0.375 Stop-loss : $0.19 Take profit 1: $1 phycological level Take Profit 2: $3 - Previous all time high Take profit 3: Between $4.5 and $5.5 - $5.22 is the 1.618 fib extension target
CRYPTO:ADAUSDLong
by TraderMagz
7
ADA → Cardano Ready to Rip? Or Dip? Maybe $0.72 before Reversal.Cardano has been on a ride along with the entire crypto market for months and with a bull flag playing out, looks like we're going to get a little more upward price action. Should we long here? How do we trade this? 🤔 We need to wait for a pullback to at least the 30EMA, maybe the 200EMA, whenever we see some bullish price action in response. A strong bull signal bar closing near its high and a confirmation candle are preferable. This gives us the necessary probability to enter a long and place a protective stop below the 200EMA around $0.59. Plan to take half profits at 1:1 Risk/Reward around $0.63, move your stop loss up to the entry price to secure profits, then take profits at the next reversal signal or at 1:3 Risk/Reward around $0.727. We need to be aware that on the higher timeframes, Bitcoin and the crypto market is running hot and we should be on the lookout for a trend change. Either to a trading range and/or a reversal to the downside. We need to close a few more weekly candles to get an indication of the next market moves on the higher timeframes. 💡 Trade Ideas 💡 Long Entry: $0.630 🟥 Stop Loss: $0.599 ✅ Take Profit #1: $0.630 ✅ Take Profit #2: $0.727 ⚖️ Risk/Reward Ratio: 1:3 🔑 Key Takeaways 🔑 1. Bull Flag after a Bull Run, Bias to Long. 2. Near Flag Resistance, Wait for a Pullback. 3. Gap to 1HR 30EMA and 200EMA, Wait for Pullback. 4. RSI at 64.00, Above Moving Average. Bias to Long. 5. Take half profits at 1:1, Remainder at 1:3. 💰 Trading Tip 💰 Bull flags in the proper context, provide over a 60% probability that a trend will continue. This provides justification to enter a long trade. ⚠️ 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!
KRAKEN:ADAUSDLong
by TraderEngineering
ADA Price Starts A Bullish Quest To $1Recent Performance: ADA price shows a notable overnight increase of 4.11%, maintaining the momentum with an intraday rise of 3.31%. Bullish Continuation Expected: The ADA price trend signals a potential breakout past the crucial $0.70 mark, with eyes set on reclaiming the $1 level. Weekly Chart Analysis: In the weekly timeframe, ADA marks significant growth, surging 163% in the past 12 weeks. A robust bounce from the $0.25 support level aligns ADA with the 38.20% Fibonacci retracement level at $0.70. Potential Rounding Bottom Formation: The daily chart illustrates a possible rounding bottom pattern, indicating a bullish trend continuation. The neckline of this pattern aligns with the 38.20% Fibonacci level, further hinting at an upcoming breakout. Current Trading Scenario: Trading at $0.648, ADA faces resistance near the $0.70 level. Despite some higher price rejection, the overall trend appears bullish. Technical Indicators Show Positive Signs: EMA: Both 50 and 200 EMAs are trending positively, hinting at a potential golden crossover—a bullish signal for ADA. MACD: A possible bullish crossover on the horizon, as indicated by the recent upward movement and shrinking negative histograms. Bullish Outlook: Should ADA maintain its bullish trend and successfully breach the $0.70 threshold, a rally towards the $1 mark is plausible. Downside Risks: However, a downturn below $0.60 is possible, especially if ADA faces strong rejection at the $0.70 resistance level.
BINANCE:ADAUSDLong
by Coinpedia-Market-Insight
CARDANO - New All Time High Incoming... But Why?I'm currently analyzing the top 50 cryptocurrencies, utilizing AriasWave to comprehend the dynamics influencing their movements and investigating the reasons behind certain cryptos continuing to ascend. In the upcoming video, I delve into my perspective on this phenomenon, outlining the reasons I believe it's occurring and offering insights into future expectations. Stay tuned as I share a series of these ideas in the weeks ahead, concluding 2023 and gearing up for what awaits us in the future. Entry: At Market. Target: $3 Percentage Gain: 400%
BINANCE:ADAUSDLong
by AriasWave
ADA Head & Shoulders on 6H?This is my first post on TV and I am pretty new to TA, so positive constructive criticisms are welcome. Started looking at this H&S pattern forming on the 6H and it puts a target price of around .44-.45 cents if it plays out. That price level is also confluent with the 200 day MA, which would be a major zone of support. If I were looking to put in a long trade or accumulate, I would shoot for the .45 cent range (about 18% dip from current price of .58). If I were looking to short, I would wait for bearish confirmation by breaking the .55 level and putting in the short trade at that time. This can be invalidated with a move above the .60 cent range in convincing fashion. NOT FINANCIAL ADVICE | I AM A NOVICE TRADER!
COINBASE:ADAUSDShort
by coinkoios
Cardano: Dive in deeper! 🤿 Cardano fell back to our magenta Target Zone between $0.5510 and $0.4430 over the last seven days. However, it did not dip very profoundly and quickly moved back up. According to our primary assessment, the low of the magenta-colored wave (iv) has not yet been placed, but there should be another deeper dip. That being said, it should be noted that the minimum requirement for the low has been met and that we see the price in the final stage of the magenta-colored five-part wave as part of the 30% probable alternative. This option would come into effect on a break of resistance at $0.64.
BINANCE:ADAUSD
by MarketIntel
3
ADA → Cardano Failed to Break Resistance Zone. About to Fall!?Cardano had a failed breakout above the Resistance Zone at $0.62, followed by several failed attempts to break it again. Does this mean we enter a long? How do we trade this? 🤔 Entering a short right now is reasonable if you accept the low probability nature of reversal trading. The number of failures to break the resistance zone are great signals to enter a trade, but additional confirmation to the downside with a strong bear candle is preferable. Due to the current distance to the proper stop loss placement above the Resistance Zone, it's reasonable to take a 1:1 Risk/Reward Ratio trade down to the support zone. Use a smaller position size given the additional risk. 💡 Trade Ideas 💡 Short Entry: $0.575 🟥 Stop Loss: $0.665 ✅ Take Profit: $0.485 ⚖️ Risk/Reward Ratio: 1:1 🔑 Key Takeaways 🔑 1. Failed Breakout at Resistance Zone, Sell Signal. 2. Failed three times to break Resistance Zone after Signal, Confirmation. 3. Gap to Daily 30EMA and Support Zone. 4. RSI at 60.00, Below Moving Average. Bias to Short. 5. Watch for Bitcoin Trend Change at $46,000. 💰 Trading Tip 💰 Price seeks balance and will naturally move toward moving averages. Trade with the trend for maximum probability, but also expect gaps between the price and moving averages to close before they widen. ⚠️ 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!
KRAKEN:ADAUSDShort
by TraderEngineering
Cardano (ADA) to 80 centsThis is not going to be popular, I know. However the moment emotion surpasses reason is the same time profits bleed. There is a number of reasons to be very bearish at this moment on ADA. Why? On the above 10-day chart: 1) Bearish divergence on ADA / USD has been in play for some months now following a ‘great sell’ signal on the above 10-day chart around $1.40. But it went to $3! Don’t forget price action started rising from 2 cent last March, that was a 4000% gain. 2) Higher highs in Price action lower highs on the oscillators. 9 oscillators are currently diverging with price action (circled in purple). Look left! The last time this many oscillators were diverging with price action a 60% correction occurred to support. 3) The 10-day ADA / Bitcoin chart (below) prints a copy of the dollar chart with 8 oscillators diverging. 4) A ‘Hanging man’ candle just printed on this 10-day chart. Look left. Those candles are bearish, especially on this time scale. Is it possible price action increase further? For sure. Is it probable? In the macro picture.. very unlikely. 1st target is 80 cents. Do no assume it will hold! Good luck! WW 10-day ADA / BTC chart - bearish divergences
BINANCE:ADAUSDShort
by without_worries
95