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.P trade ideas
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 ?
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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
ADA/USDT 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this ADA /USDT 1DAY chart update by CRYPTOSANDERS.
I have tried to bring the best possible outcome to this chart.
CHART ANALYSIS:-Cardano (ADA) rebounded on Thursday, with prices moving to an eleven-week high in the process.
Following a low of $0.3537 on Wednesday, ADA/USD rose to an intraday high of $0.3866 earlier today.
As a result of this, Cardano rose to its strongest point since November 8, which is the last time prices were above $0.4100.
Looking at the chart, ADA has moved lower from earlier gains, as traders appear to have taken profits near a ceiling of $0.3875.
As of writing, the token is trading at $0.3774, with the 14-day relative strength index (RSI) near a resistance of its own at 74.00.
The index, which is currently tracking at 69.22, will likely need to move past the 74.00 points in order for ADA to jump over the $0.3875 hurdle.
This is not a piece of financial advice.
Hit the like button if you like it and share your charts in the comments section.
Thank you
ADAUSD CARDANOCrypto ADAUSD is trading in the channel from the last 250 days We can see a good movementum when it breaks this channel
ADAUSD (4H) - Bullish wave LTFHi Traders
ADAUSD (4H Timeframe)
A Medium probability, entry signal to go LONG will be given with the upward break of 0.362 after the market found support at 0.347. Only the downward break of 0.347 would cancel the bullish scenario.
Trade details
Entry: 0.362
Stop loss: 0.347
Take profit 1: 0.409
Take profit 2: 0.448
Score: 7
Strategy: Bullish wave LTF
Wyckoff Accumulation for ADA 2023 into 2024I believe this will play out leading up to the 2024 BTC halving on 4/30/24, with the Bull run kicking off after that event.
Morning Update: OMH for ADA should do itADA has extended nicely off the bottom. However we are coming into the 2.618 and 3.0 Fib Extension areas. Here I would expect a reaction that could start our retracement in wave 2. Again, I'll reiterate...wave 2's can be shallow, so to get cute and try to sell with the intention of buying back lower is risky.
I got a lot of DM's regarding ADA asking will it come back down? I don't answer them. I am not in the trader counseling business. Buying and selling is your decision. If you sell ADA in this area, and we get a long consolidation or a shallow retrace followed by a "rip your face off rally above $.60"...please spare me the DM's. I thank you in advance...lol.
Best to all,
Chris
Cardano (ADA): pointing againNews regarding forthcoming release of a toolkit for Cardano`s network, which should increase scalability of the Cardano`s network, continue to support ADA`s price. During the previous week the coin reached a new yearly high at level of $0.37, while the lowest level during the week was at level of $0.32.
The RSI indicator continues to move within the overbought market side, indicating that the short reversal might soon come for this coin. At the same time, there has not been almost any change in movements of MA50 and MA200. These two lines continue to move as two parallel lines with downtrend, regardless of positive price movements during the last two weeks.
ADA will certainly be further supported by the coming of the new fork. Short price reversal is possible, considering that RSI is indicating it for the last two weeks. Current charts are pointing that it could be a level of $0.32 for one more time, but testing of the $0.30 support line is with lower probability. On the opposite side, ADA will continue to test current resistance at $0.40.
