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ADAUSD trade ideas

ADAUSD | Wave Analysis CUP&HANDLE Formation +200% TargetA potential ABC correction - cup with bull flag / flat handle ABC formation which currently retraced 61.8% of the A/1 wave with a possible a.4-a.5 stop hunt ending diagonal for a second false breakdown. Entry Position: Once price successfully recovered from the false breakdown support zone which could be a few attempts since wave 4 often a complex triangle. Indicator support: RSI bullish divergence in TFD confirmation of the a.5 wave. Target Position: TP1 @ 161.8% and TP2 @ 200% Fibonacci extension +200%! Invalidation: Below the lowest price position. Always trade with affordable risk and respect your stop, Good Luck
COINBASE:ADAUSDLong
by dukeposh
3
Elliott Wave View: US Dollar Index Turning LowerDollar Index (DXY) has reached 100% Fibonacci extension from 7.17.2023 low and ended the cycle. The rally is unfolding as a double three Elliott Wave structure. Up from 7.17.2023 low, wave (W) ended at 107.34 and wave (X) pullback ended at 100.15. Wave (Y) higher ended at 108 which completed wave ((W)) in higher degree as the 1 hour chart below shows. Wave ((X)) is currently in progress with a possible zigzag structure. Down from wave ((X)), wave (i) ended at 107.31 and wave (ii) ended at 107.71. Wave (iii) lower ended at 106.8 and rally in wave (iv) ended at 107.24. Final leg wave (v) ended at 106.58 which completed wave ((i)). Wave ((ii)) rally ended at 107.5 with internal subdivision as a zigzag. Up from wave ((i)), wave (a) ended at 107.14 and wave (b) ended at 106.77. Wave (c) higher ended at 107.5 which completed wave ((ii)). The Index has resumed lower again in wave ((iii)). Down from wave ((ii)), wave (i) ended at 106.49 and wave (ii) ended at 107.19. Wave (iii) lower ended at 106 and wave (iv) ended at 106.4. Final wave (v) ended at 105.85 which completed wave ((iii)). Wave ((iv)) rally ended at 106.41. Expect Index to extend lower in wave ((v)) before turning higher in 3 waves. Near term, as far as pivot at 108.08 high is intact, expect rally to fail in 3, 7, or 11 swing for further downside.
BINANCE:ADAUSD
by Elliottwave-Forecast
1
Understanding the Cardano (ADA) Surge: Comprehensive Analysis Cardano (ADA), the native cryptocurrency of the Cardano blockchain, has recently exhibited a notable uptrend, breaking above the crucial $0.8800 support level. The price has since rallied to trade above the $0.9500 mark, surpassing the 100-hourly Simple Moving Average (SMA). Technical Analysis: A Bullish Outlook A closer look at the hourly chart of the ADA/USD pair reveals a key bearish trend line forming resistance near the $1.0200 level. However, a decisive breakout above this trend line could trigger a significant upward move, potentially propelling the price towards the $1.0500 resistance zone. Key Technical Indicators: • Relative Strength Index (RSI): The RSI is currently hovering above the 50 level, indicating bullish momentum. A sustained increase in the RSI could signal further price appreciation. • Moving Averages: The 100-hourly SMA has been acting as a strong support level, and a break above it has confirmed the bullish bias. • Momentum Indicators: Momentum indicators like the Moving Average Convergence Divergence (MACD) and the Stochastic Oscillator are also showing bullish signals, suggesting that the upward trend may continue. Fundamental Factors Driving ADA's Price Increase While technical analysis provides insights into short-term price movements, it's essential to consider the underlying fundamental factors driving ADA's price increase: • Network Upgrades: Cardano's ongoing network upgrades, such as the Vasil hard fork, have significantly improved the network's scalability and efficiency. These upgrades have attracted more developers and investors to the Cardano ecosystem. • Growing DeFi Ecosystem: The Cardano blockchain is rapidly emerging as a hub for decentralized finance (DeFi) applications. The increasing number of DeFi projects and protocols built on Cardano can boost demand for ADA. • Institutional Adoption: Institutional investors and corporations are increasingly recognizing the potential of blockchain technology and cryptocurrencies. As more institutions allocate capital to Cardano, it can further fuel price appreciation. • Positive Market Sentiment: The overall positive sentiment in the cryptocurrency market, driven by factors such as increasing institutional adoption and regulatory clarity, can also contribute to ADA's price increase. Potential Risks and Challenges While the technical and fundamental outlook for ADA appears bullish, it's important to acknowledge potential risks and challenges: • Market Volatility: The cryptocurrency market is highly volatile, and prices can fluctuate rapidly due to various factors, including macroeconomic events, regulatory changes, and market sentiment. • Competition from Other Blockchains: Cardano faces competition from other blockchain platforms like Ethereum and Solana. These competing platforms may offer advantages in terms of scalability, transaction fees, and developer ecosystem. • Regulatory Uncertainty: Regulatory uncertainty remains a significant risk for the cryptocurrency industry. Strict regulations or unfavorable policies could negatively impact the price of ADA. Conclusion Cardano's recent price surge and positive technical indicators suggest that the bullish trend may continue in the short term. However, it's crucial to approach investments in cryptocurrencies with caution and consider diversifying your portfolio. As with any investment, conducting thorough research and consulting with financial advisors can help you make informed decisions.
BINANCE:ADAUSD
by bryandowningqln
Cardano's Resurgence: A $1 Reclaim and a Bullish OutlookCardano (ADA), the blockchain platform known for its scientific approach and focus on sustainability, has recently made significant strides.1 The cryptocurrency has not only reclaimed the crucial $1 price level but has also witnessed a surge in network growth, sparking optimism among investors and analysts alike.2 Reclaiming the $1 Mark After a period of consolidation, ADA successfully broke through the psychologically significant $1 resistance level.3 This achievement marks a significant milestone for the cryptocurrency, which has been steadily gaining momentum in recent months.4 The price surge can be attributed to several factors, including increased network activity, positive market sentiment, and growing institutional interest.5 Network Growth and Adoption One of the key drivers behind Cardano's recent price appreciation is the substantial growth in its network activity.6 The number of daily active addresses on the Cardano blockchain has surged, indicating increased user engagement and adoption.7 This uptick in user activity is a strong indicator of the network's health and potential for future growth.8 Furthermore, Cardano's Total Value Locked (TVL) has also experienced significant growth, reflecting the increasing popularity of decentralized applications (dApps) and other projects built on the platform. As more projects and users choose Cardano, the network's value proposition strengthens, attracting further investment and attention.9 Technical Analysis: A Bullish Outlook From a technical perspective, Cardano's price action appears to be forming a bullish pattern. The recent breakout above the $1 resistance level has provided strong confirmation of the uptrend. Additionally, key technical indicators such as the Relative Strength Index (RSI) and Moving Averages (MAs) are signaling bullish momentum. However, it is important to note that the cryptocurrency market is highly volatile, and prices can fluctuate rapidly.10 While the technical indicators suggest a potential for further upside, conducting thorough research and considering risk management strategies is crucial before making any investment decisions. Future Potential and Challenges As Cardano continues to mature and evolve, it has the potential to become a leading player in the blockchain industry. The platform's focus on sustainability, scalability, and security positions it well to address the challenges faced by other blockchains.11 However, Cardano still faces several challenges, including competition from other established and emerging platforms.12 Additionally, the regulatory environment for cryptocurrencies remains uncertain, which could impact the adoption and growth of the industry.13 Conclusion Cardano's recent price surge and increased network activity are positive signs for the future of the platform. The cryptocurrency's strong fundamentals, coupled with a growing community and a dedicated development team, position it well for long-term growth.14 While the short-term price movements may be subject to market volatility, the long-term outlook for Cardano remains bullish.15 As the network continues to mature and attract more users and developers, ADA has the potential to reach new heights and solidify its position as a leading blockchain platform.16
COINBASE:ADAUSD
by bryandowningqln
Cardano's Resurgence: A $1 Reclaim and a Bullish OutlookCardano (ADA), the blockchain platform known for its scientific approach and focus on sustainability, has recently made significant strides.1 The cryptocurrency has not only reclaimed the crucial $1 price level but has also witnessed a surge in network growth, sparking optimism among investors and analysts alike.2 Reclaiming the $1 Mark After consolidation, ADA successfully broke through the psychologically significant $1 resistance level.3 This achievement marks a significant milestone for the cryptocurrency, steadily gaining momentum in recent months.4 The price surge can be attributed to several factors, including increased network activity, positive market sentiment, and growing institutional interest.5 Network Growth and Adoption One of the key drivers behind Cardano's recent price appreciation is the substantial growth in its network activity.6 The number of daily active addresses on the Cardano blockchain has surged, indicating increased user engagement and adoption.7 This uptick in user activity strongly indicates the network's health and potential for future growth.8 Furthermore, Cardano's Total Value Locked (TVL) has also experienced significant growth, reflecting the increasing popularity of decentralized applications (dApps) and other projects built on the platform. As more projects and users choose Cardano, the network's value proposition strengthens, attracting further investment and attention.9 Technical Analysis: A Bullish Outlook From a technical perspective, Cardano's price action appears to be forming a bullish pattern. The recent breakout above the $1 resistance level has provided strong confirmation of the uptrend. Additionally, key technical indicators such as the Relative Strength Index (RSI) and Moving Averages (MAs) are signaling bullish momentum. However, it is important to note that the cryptocurrency market is highly volatile, and prices can fluctuate rapidly.10 While the technical indicators suggest a potential for further upside, conducting thorough research and considering risk management strategies is crucial before making any investment decisions. Future Potential and Challenges As Cardano continues to mature and evolve, it has the potential to become a leading player in the blockchain industry. The platform's focus on sustainability, scalability, and security positions it well to address the challenges faced by other blockchains.11 However, Cardano still faces several challenges, including competition from other established and emerging platforms.12 Additionally, the regulatory environment for cryptocurrencies remains uncertain, which could impact the adoption and growth of the industry.13 Conclusion Cardano's recent price surge and increased network activity are positive signs for the future of the platform. The cryptocurrency's strong fundamentals, coupled with a growing community and a dedicated development team, position it well for long-term growth.14 While the short-term price movements may be subject to market volatility, the long-term outlook for Cardano remains bullish.15 As the network continues to mature and attract more users and developers, ADA has the potential to reach new heights and solidify its position as a leading blockchain platform.16
COINBASE:ADAUSD
by bryandowningqln
$ADA Cardano Impulsive Elliott Wave ProbabilityCardano is currently printing an impulsive push to the upside, which according to Elliott Wave theory, should break down into 3 impulsive waves up (1,3,5) and 2 corrective waves (2 and 4). It looks like we're currently in wave 4, and the likely target of wave 5, which is the length of wave 1 copied to wave 5, shows a target price of $1.50. This is a logical reversal point, because it lines up with the major reversals in the prior market where a lot of traders are likely to take profit or exit losses. In the short term, we may see a small pullback to complete the abc pattern of the wave 4 correction (currently we appear to be in the second of three micro waves), followed by the final impulsive wave and then a full corrective ABC retracement, which will probably be considerably more substantial than the current consolidations we've seen so far in this run. The volume profile also supports the theory that this impulsive trend to the upside has not completed, as we do not see bearish divergence with increasing sell volume. Instead, we're seeing small volume red candles that follow high buying volume. In order for price action to reverse, I'd expect to see high volume red candles following low or substantially declining volume green candles. I'm just some guy throwing my 2 cents out there, so do your own research. :)
KRAKEN:ADAUSDLong
by Crypto_Mayhem
Is Cardano Heading Towards $6? Expert Analysis and Bullish SignsCardano (ADA), the blockchain platform known for its scientific approach to blockchain development, has recently shown significant bullish signs. The cryptocurrency has experienced a surge in price, breaking key resistance levels and attracting increased investor attention. Cardano Price Rumbles On, Breaks $1 For The First Time Since 2022 One of the most notable developments is Cardano's recent price surge, which has pushed the token above the $1 mark for the first time since 2022. This significant milestone has ignited optimism among investors and analysts alike. Key Factors Driving Cardano's Bullish Momentum Several factors are contributing to Cardano's bullish momentum: 1. Network Upgrades and Developments: o Vasil Hard Fork: The successful implementation of the Vasil hard fork brought significant performance and scalability improvements to the Cardano network. This upgrade enhanced the network's capacity to handle increased transaction volume and smart contract activity. o Djed Stablecoin: The launch of Djed, a decentralized stablecoin, has added a new dimension to Cardano's ecosystem. Djed aims to provide stability and facilitate financial transactions within the Cardano network. 2. Growing Developer Activity: o The number of developers building on the Cardano platform has been steadily increasing. This growing developer community is a strong indicator of the network's potential and future growth. o The development of dApps (decentralized applications) on Cardano is gaining momentum, expanding the platform's utility and attracting new users. 3. Positive Market Sentiment: o The broader cryptocurrency market has been experiencing a positive trend, with many cryptocurrencies showing significant price gains. This positive sentiment has spilled over to Cardano, driving its upward momentum. o Increased institutional interest in the cryptocurrency market has also contributed to the positive sentiment surrounding Cardano. Expert Forecast: $6 Price Target In light of these positive developments, experts have issued bullish forecasts for Cardano's future price. Some analysts believe that Cardano could reach a price target of $6 in the coming months or years. Potential Challenges and Risks While the outlook for Cardano appears promising, it's important to acknowledge potential challenges and risks: • Market Volatility: The cryptocurrency market is inherently volatile, and sudden price swings can occur. • Regulatory Uncertainty: Changes in regulatory policies can impact the cryptocurrency market, including Cardano. • Competition from Other Blockchains: Cardano faces competition from other blockchain platforms, such as Ethereum and Solana, which could impact its growth and adoption. Conclusion Cardano's recent price surge and positive developments suggest a bullish outlook for the cryptocurrency. However, it's crucial to approach investments with caution and conduct thorough research before making any decisions. As with any investment, there are risks involved, and past performance is not indicative of future results. By staying informed about the latest developments in the Cardano ecosystem and the broader cryptocurrency market, investors can make informed decisions and potentially benefit from Cardano's future growth.
BINANCE:ADAUSDLong
by bryandowningqln
2021 ADA vs 2024/2025 ADA - Dominace, BTC valuation, Market CapAs Mr. Cowen puts it: "Price does not follow narrative, narrative follows price". With this in mind let's start by asking two questions: 1) What drove ADA in the prior cycle? 2) What is driving ADA this cycle and are there similarities between 2020/2021 and now? -Is it the Presidential Election Cycle Theory? That every 4 years, like clockwork, BTC goes parabolic and drags the entire asset class up with it. -Is it the Fed printing trillions upon trillions of dollars? That this increased money supply combined with an increase in retail/institutional interest in the crypto space has artificially inflated the USD valuation of both BTC and ALTs? -Is it Hoskinson already having established himself in the crypto space with ETH but also having a genuine, tangible desire to create what Cardano has become? He's made his wealth, he has a vision, he employs a team of engineers, and leans on an ever growing legion of global developers to continue to refine the Cardano ecosystem. -Is it some combination of all of the above, other factors I'm not even aware of, and/or just simple "I believe in it and will therefore use and hold it?" ~~ What most people are interested in is that ADAUSD went from a few cents to $3.10 in the span of a 18 months: A greater than 10,000% gain. And after a long slumber, it's on the move again...but why? What is driving it this time around and what is the potential USD valuation that these forces could push ADA too? -The US presidential election just happened and BTC is knocking on the door of $100k. -The Fed has begun to lower interest rates and will potentially start QE in 2025. -The next administration is likely to be far friendlier to the crypto space as a whole than the prior admin. -Gary Gensler is also resigning from the SEC on Jan 20th, 2025. -More people, both within the US and globally, are adopting, using, and holding crypto today than ever before. -The Cardano ecosystem is far, far more developed than it was 4 years ago. Now you can love ADA or hate it, you can think its mana from heaven or simply trash, you can deeply understand it and it's applications or have no understanding of it all. None of that really matters because ultimately, price action is king. The old adage of "buy the rumor, sell the news" needs to be visited here. Why? -Charles is potentially poised to be the incoming administration's, presidential crypto advisor. He might not get the job (and has written that he thinks Brian Armstrong should have it), but at the end of the day he is friends with many of the people who will occupy some of the highest jobs in the federal government. -He also plans on spending a lot of time in Washington in 2025 generally advising Congress on crypto policy. -There is allegedly a N.D.A. for Cardano to be the blockchain ecosystem that SpaceX (and other of Elon's companies) use going forward. ~~ All of this suggests, to me at least, that ADAUSD is poised to continue it's rally. To what extent, I don't know, but we can maybe gain some understanding by looking at ADA's dominance, ADA's marketcap, and the ADABTC valuation. ADAUSD of $3.00 is a Marketcap of: $107 Billion (Greater than the current MC of #6, XRP) ADAUSD of $5.00 is a Marketcap of: $178 Billion (Greater than the current MC of #4, SOL) ADAUSD of $8.00 is a Marketcap of: $286 Billion ADAUSD of $10.00 is a Marketcap of: $357 Billion ADAUSD of $12.00 is a Marketcap of: $429 Billion (Greater than the current MC of #2, ETH) Let's make 2 assumptions (which may be completely wrong) for the sake of example. 1) The total Marketcap of the entire crypto space is going to roughly top around $10T. It's currently $3.27T at time of writing. 2) ADA's Dominance will top roughly around 4% AND the ADABTC valuation will top roughly around 4500 sats. Well, if the MC goes to $10T and if ADA's dominance goes to 4%, that's an ADA MC of $400 Billion which would imply a USD valuation of roughly $ 11.80/ADA. A more than 10x return from where we are right now...but significantly less than the 100x from last cycle. ~~ The tricky part is the ADABTC valuation. Assuming BTC's price doesn't change at all and ADA's just skyrockets (an extremely unlikely scenario, but please work with me for a second), we're a 318% increase away from the sat target of 4500. In this scenario, ADA triples to a new all time high, but doesn't hit a USD valuation of $5/ADA. Is Bitcoin going to triple in price from it's current USD value THIS CYCLE? Call me a bear, but I just don't see BTC at 300k in 2025. I hope I'm wrong, but I just think we're a cycle or two away from that point. If BTC hits $125k though, what life does this breath into the ADABTC valuation? It means that ADA can more than triple and still be under the ~4500 sat target...corresponding to a USD value maybe in the $3.8-$5 range. ~~ Of course, these are moot points IF ADA entrenches itself as the likes of another ETH this cycle. Exiting the halls of being an Altcoin and firmly establishing itself as a blue-chip, household name. For this to happen, ADA's satoshi valuation against BTC would have to absolutely smash the prior cycle highs...or BTCUSD would have to reach a crazy high value...or the total crypto marketcap would have to vastly exceed $10T...or some combination of the aforementioned. I do not have a crystal ball and I cannot predict the future, but I do think that an ADA can cautiously hit $8 this cycle. Will it happen? I don't know. I'm long term bullish on ADA so I'm not sweating the next 6-9 months. ~~ All of that being said: this is not financial, trading, or investment advice. Do your own due diligence. I am not responsible for any gains or loses you may or may not have.
BINANCE:ADAUSDLong
by Varmushu
3