Retest for 0.43 and 0.44 ranges creates bullish signal for ADAVery clear demand for ADA in conjunction with Bitcoin trying to breakout is creating optimism for ADA to leave the upper 0.30 range behind it.
ADAUSD trade ideas
Cardano (ADA): weakness is holdingA positive market sentiment from the beginning of this year has slowed down a bit during the previous week, influenced primarily by the SEC`s moves toward the staking crypto products. A call from SEC Chair Gensler to crypto businesses is to follow regulation on all products with “lend, yield or earn” words and register them with the SEC. During the previous few weeks, ADA made progress toward the $0.40 resistance line, however, during the previous week, the coin reverted a bit to the downside and level of $0.36, where the coin is finishing the week.
The RSI indicator was pushed to the down side and below the level of 50, reaching 47, which might be an indication that the market is slowly starting to look at the oversold side. Moving averages of 50 and 200 days continue to slowly converge toward each other, with still some distance between the lines, in which sense, the potential cross is still on a longer road.
Moves from the previous week are just small market corrections. Current charts are still not clearly pointing that the $0.40 resistance has lost its momentum. Support line at $0.35 might be tested during the week ahead, but there is no indication on charts that this line might be breached to the downside. On the opposite side, resistance at $0.40 might easily be tested again.
Cardano (ADA) EXIT alert ! 15% profit#ADA /USD TA Update:-
$ADA currently trading at $0.367
Our CTT (Coinlion Trend Trader) told us to exit ADA at $0.36 which is currently trading above the 50EMA.
Cardano did not break out the descending channel as expecting. So we follow the indicator and took a 15% profit (entry at 0.29$ on Monday 09th of January)
Entry : 0.29$
Exit : 0.36$
Let's see if ADA decide to break out around 0.40$, if it's the case, next possible target will be at 1.10$ with a 179% profit.
What do you think ?
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Coinlion Trend Trader indicator tells me when to go short or long, when to exit and when to take profit.
Thank you.
ADA support ZonesGeneral ADA support zones facing the SEC regulation onto Kraken Staking. Kraken appears to have a yield-staking product, not a yield-based staking product.
Regulation is always bearish but strong trees survive the storms.
ADAUSDT - 4H - Ending Diagonal CompletedAfter a strong rally price formed a nice ending diagonal. This is a strong reversal pattern.
We can see a nice pinbar also.
I expect a retracement at least to 0.30 level
Entry: 0.3977 (now)
Stop Loss: 0.42
Take profit: 0.33
Lets see!!
Best regards.
Elliott Wave View Suggests Cardano can See Further Correction LoCycle from 12.30.2022 low ended in wave (1) at 0.414 as a 5 waves. Up from 12.30.2022, wave 1 ended at 0.281 and pullback in wave 2 ended at 0.272. The crypto-currency extends higher in wave 3 towards 0.37 and dips in wave 4 ended at 0.325. Final leg higher ended wave 5 at 0.414 which completed wave (1) in higher degree as the chart below shows. Internal subdivision of wave 5 unfolded as a 5 waves diagonal. Up from wave 4, Wave ((i)) ended at 0.387 and pullback in wave ((ii)) ended at 0.347. The crypto-currency extends higher again in wave ((iii)) towards 0.399, wave ((iv)) pullback ended at 0.367, and final leg higher wave ((v)) ended at 0.414 which completed wave 5 and (1) in higher degree.
Wave (2) pullback is in progress to correct cycle from 12.30.2022 low with internal subdivision as a zigzag. Down from wave (1) peak, wave ((i)) ended at 0.393 and wave ((ii)) ended at 0.407. The crypto extends lower again in wave ((iii)) towards 0.383, wave ((iv)) ended at 0.403, and final wave ((v)) ended at 0.38 which completed wave A. Expect wave B rally to fail below 0.414 for another leg lower in wave C to complete wave (2). Near term, as far as pivot at 0.414 high stays intact, expect the crypto currency's rally to fail in 3, 7, or 11 swing for further downside.
Trading The Cardano CorrectionIn this update we review the recent price action in Cardano and identify the next high probability trading opportunities and price objectives to target
ADAUSD Potential for Bearish Drop | 7th February 2023Looking at the H4 chart, my overall bias for ADAUSD is bearish due to the current price crossing below the Ichimoku cloud, indicating a bearish market.
Looking for a sell stop entry at 0.3820, where the recent minor low is to ride the bearish momentum. Stop loss will be at 0.4137, where the recent high is. Take profit will be at 0.3294, where the overlap support is.
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Cardano ADA/USDTesting/tracking elliot wave theory. Please do not trade off idea without S/L. Not financial advice.
We have a -92% drop from the top so far that's in. We might have a possibility of another leg down making it -95% drop from the top. I highly think this will not happen unless the whole crypto market crashes.
R/R ratio from today's price: 18.88
Possible upside: 1200%
Possible downside: -63%
R/R ratio from -95% drop 517
Possible upside: 3310%
Possible downside: None, I believe this would truly be the bottom and not use a stop loss.
If you're the market maker, would you want to give people the opportunity to make an extra 3000% or 1200%?
Another crypto crash down across all these charts would cost the market maker more money. Crashing the market by another -50-60% and giving away 3000%+ doesn't seem like the wise play here.
RSI has been at all time lows and MACD's are starting to curl up. Very unlikely we go lower to -95%.
Cardano (ADA): ready for higher grounds?Positive market sentiment for ADA continues since the start of this year. During the previous week the coin was moving within a range of $0.36 up to $0.41, still testing the $0.40 resistance line. Although the daily trading volumes have decreased, on a positive side is that the buying orders are prevailing.
Although ADA made short moves during the week, RSI reached level of 67, moving closer to the overbought side of the market. Another positive development on the charts is that the MA50 line started its stronger divergence toward the MA200 counterpart, indicating on possibility for the Golden cross to occur in the coming period. There is still space between lines which needs to be crossed, but at least the moves are in a positive direction.
The $0.40 support line continues to be the current major focus of ADA. The coin will start the week ahead by testing this level to the upside. In case that it is clearly breached, then the next short term stop might be around level of $0.43, on the road toward the $0.45 resistance line. On the opposite side, there is a possibility for a short reversal, where the first stop might be level of $0.37.
ADA shows weakness Price action is getting weaker with smaller bodied candles along with reducing volume. Resistance above where a large supply would dampen any momentum and absorb all demand easily! The 200 EMA being a resistance doesn’t not support the bullish narrative! A drop will probably take us back to the lows of December for a potential double bottom, but I think this maybe the last of Cardano bear before proper accumulation starts!
ADA: Identifying Local ResistanceHere we are looking at ADAUSD on the 4hr time frame…
In trying to determine what Cardano will do next, let’s take a look at its current price levels. Since January first, Cardano has rallied with the rest of the market. In just the last 5 weeks, Cardano has rallied just under 70%!
The question we must analyze in the short term is where this rally will run into significant resistance, as it has been relatively smooth sailing to this point...
As seen on the chart, the parallel resistance channel seems like a strong zone to watch. Not only has ADA rallied 68% in less than five weeks, but it hadn’t really run into any significant resistance zones until now.
I would expect ADA to continue bouncing between support (blue ascending line) and resistance (channel). I will continue to monitor this chart, and update you when there’s a development in its chart!
Trade safely…
Cheers!
Cardano (ADA) holders, be ready to a potential huge profit !#ADA /USD TA Update:-
$ADA currently trading at $0.38
ADA is currently bullish since January 9 according to our MTT Indicator (entry at 0.29$)
He is currently on the resistance at $o.395 on the 200SMA and on the descending channel (from sept 21)
The next possible target if it breaks this channel is 1.10$ with a 179% profit
What do you think ?
Please click LIKE button and Appreciate my work.
I have created this trade indicator that tells me when to go short or long, when to exit and when to take profit
Thank you.
Morning Update: ADA Count UpdateADA has extended in it's wave 5 of primary 1. This over lapping grind higher appears to be an ending diagonal for completion of wave 1. If my count is correct our retrace should come into the area of origination which is .27. However, I prefer to wait to see how price behaves over the course of this upcoming weekend.
Best to all,
Chris
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Drawing supply and demand areas and possible scenarioDrawing supply and demand areas and possible scenario
Cardano long, 261 days of down onlyOne of the few alts that are still accumulating ~261 days. Yellow box is weekly breaker and Red box above is the last daily up candle that preceded the down-move which means lots of trapped buyers there willing to break even on their positions. Equal highs at ~$4.4 and November high at ~$4.377 should serve as first areas of resistance.
Cardano (ADA): confidence is backMarket continues to positively perceive news regarding the forthcoming fork for Cardano`s network, which would increase its scalability. It has strongly supported ADA`s price during the last three weeks. The price of the coin continues to reach higher grounds, with last week's level of $0.4. The last time the coin was at this level was in November previous year. These are all good developments, as it shows that there is still value in this coin which brings back investor's confidence.
For the last three weeks the RSI indicator is moving within the overbought side. Potential reversal might come soon, however, it certainly could not be supported by the prevailing buying orders. The RSI is ending another week at level of 70, which is an indication of forthcoming short price reversal. MA50 and MA200 continue to move as two parallel lines but this time the course has been changed from downtrend to parallel. Hopefully, in the near future they will move more toward each other in order to create a cross.
It might be expected that ADA will continue to be supported by the announced new fork. The coin is currently testing the $0.40 resistance line. In case that it is clearly breached, then the ADA will continue to route toward the next resistance at $0.45, with a small stop around $0.43. In case that the coin enters into a short term reversal, as RSI is pointing, then $0.35 support might be the next short term target.
AW Cardano Analysis - Making Sense of This Deep Wave E...It's kind of hard to look at this Wave E as a weak 5-Wave because of its depth however I believe it's the only way to look at this.
Of course, this is based on my recently updated view for the EURUSD, AUDUSD, Dow Jones, and ASX.
We are looking for the last move down in Wave 5 across the board and Cardano is no different.
After this move down, I see a large 5-Wave move to the upside that will extend well beyond all-time-highs.
I expect Wave E of Wave 4 to not exceed the .59 cent level before the move lower.
This does not mean that it will reach that level, it's just a guide to max length potential.
Remember to use Disciplined Money Management Principles to ensure longevity as a trader.
If you don't know the long term pattern shouldn't you be doing your research instead of just following the crowd?
Just remember: I am not a financial adviser; I suggest using this only as a guide. Always do your own research.
***AriasWave is not the same as Elliott Wave so your counts may differ to mine if you happen to use it.***
1st Quarter -> 2nd Quarterwe will landing to find a good bottom . press like bottom if you agree. thanks
