CARDANOADA
ADA - Breakout or FAKEOUT?In many ways, ADA reminds of XRP.
And that's not a compliment... Big promises, cult following, failure to reclaim previous highs etc. Either way - ADA can and will still be traded, and profits can be made.
However, another worrisome thought is that (like XRP) many bagholders may be waiting to sell around every corner. This causes extremely tough resistance zones, and is often the reason why the price just cannot seem to get "back up there".
The clear higher lows after a bottom is a bullish sign - but is THIS the breakout? I don't know. This current resistance zone will tell. Either we smash through it and close daily candles ABOVE, or it wicks above and then drops hard to the lower side of .30's.
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BINANCE:ADAUSDT
Cardano ADA price slowly turning aroundProbably shouldn't have high hopes for #Cardano CRYPTOCAP:ADA , as it is an old, heavy, and clumsy coin.
However, recently, the information field around the project has been stirring up, to the point where there will be memes on #ADA)
It would be nice to see OKX:ADAUSDT at $0.80 by the end of 2024, following the blue route, w hat do you think?
Centralized Exchanges See Uptick In Trading VolumesMarket Update - September 6, 2024
Takeaways
The market faced a broad decline over the past week: More than $162 million in crypto liquidations occurred last weekend, primarily from long positions, as US bitcoin ETFs experienced net outflows totaling $276 million. As of Thursday, the price of bitcoin had dropped to nearly $56,000.
The SEC has expressed concerns over FTX’s proposed distribution of stablecoins to creditors: While FTX’s plan aims to repay 98% of creditors in cash, the SEC may take the stance that remaining distributions made in crypto violate federal securities laws.
Cardano implemented its “Chang” upgrade, shifting control from its founding bodies to a decentralized governance structure using the ADA token: The long-awaited enhancement allows the community to vote on proposals and elect governance representatives.
High-ranking Binance executive Tigran Gambaryan, detained in Nigeria since February, appeared in court on Monday in pain after being denied a wheelchair: His lawyers have filed for bail on medical grounds, citing multiple health issues, but the prosecution has opposed the request.
Trading volumes on centralized cryptocurrency exchanges saw a roughly 6.6% MoM increase in August, reaching $1.2 trillion: Exchanges in North America experienced more than a 21% increase in activity compared to July.
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Cardano ADA- As always, everything is illustrated in the graphic.
- Review the trend.
- Note the red TP (Take Profit) and green BUY indicators.
- Pay attention to the Fibonacci level at 261.8%.
- Cardano achieved approximately a 15,000% increase from 2017 to 2020.
- While history may repeat itself, expect lower profits this time, with a potential maximum gain of around 5,000%.
- 0.20$ is a fire buy.
- I recommend setting a TP around $7.50.
Happy Tr4Ding!
ADA (Crypto CARDANO-USD) BUY TF H4 TP = 0.4053On the H4 chart the trend started on Aug. 05 (linear regression channel).
There is a high probability of profit taking. Possible take profit level is 0.4053
Using a trailing stop is also a good idea!
Please leave your feedback, your opinion. I am very interested in it. Thank you!
Good luck!
Regards, WeBelievelnTrading
ADA - Re-Accumulation Zone 22c, LONG SETUPBINANCE:ADAUSDT
ADA is not my favorite alt on the block, but I do think there is a good opportunity approaching in terms of a low risk / high reward trade.
Ada is about to re-enter it's accumulation phase, which is also the local low and where the price often bounces from support.
The technical indicator is also still vey bearish, showing no signs of a turn around just yet:
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Cardano ADA price at a crossroads before further movementLooking at the global #ADAUSDT chart
One question arises :
- Did the ABC correction already end in April at $0.40 in 🟥the red scenario?
- Or is there another dive down to the $0.30-0.34 area according to🟦the blue scenario?
The critical level from below is $0.40
The critical level from above is $0.50
Fixing the CRYPTOCAP:ADA price below or above the critical levels will decide the further price movement.
Globally, in the medium or long term, we would like to see the price of #Cardano at least $1.5
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Cardano: Price in Major Resistance AreaTrading Setup:
There is a Trading Signal to Buy in ADAUSDT Cardano
Traders can open their Buy Trades NOW
⬆️Buy now or Buy on 0.375
⭕️SL @ 0.353
🔵TP1 @ 0.444
🔵TP2 @ 0.525
🔵TP3 @ 0.729
What are these signals based on?
Classical Technical Analysis
Price Action Candlesticks Fibonacci
RSI, Moving Average , Ichimoku , Bollinger Bands
Risk Warning
Trading Forex, CFDs, Crypto, Futures, and Stocks involve a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results.
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ADA : Extreme WEAKNESS, be CAUTIOUS👎BINANCE:ADAUSDT
Cardano, like XRP and a few others, have been left behind during the recent BTC surge. We're about to see another leg up on BTC and likely a new ATH but ADA is barely able to break out of accumulation zone successfully.
A few other altcoins that call for concern include the following:
Other altcoins are sowing more promise. Volatility is infact, what attracts many users to crypto. There are a few coins that we are holding for longer term "investments" but projects that have been around for many years and fail to reclaim highs just speak to weakness. If we wanted a steady 7%, why not just get a savings account.
You could be trading 5 other profitable altcoins instead of holding onto a dead, slow mover (unless ofcourse you have other reasons, such as a fundamental belief).
Altcoins that are STRONG and moving with the trend as opposed to ADA, include the following:
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ADA: risk for buy📊Analysis by AhmadArz:
🔍Entry:0.426
🛑Stop Loss: 0.391
🎯Take Profit: 0.461 - 0.497
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Cardano Alert at $0.4477: Analysis Deciphers ADA Next Move!
Cardano has to move back to above $0.4477, otherwise it will dip to $0.3963 and, possibly, lower.
A bullish break-out of $0.4477 will push price back to $0.5434.
Above $0.5434 is a bullish daily zone and we will see a move towards $0.6562, where price action will be very important.
A sustained price action above $0.4477 will increase odds of the dip to $0.335.
ADA : BIG NEWS for Cardano 👀👇📉Hi Traders, Investors and Speculators of Charts📈
In recent news we've just learnt that Cardano is being considered to assist in the upcoming voting processes!
Multiple US states are exploring the potential of leveraging Cardano for enhancing election transparency through the integration of blockchain tech into the voting process. Now this does not necessarily mean that ADA coin will be involved, but it does speak to the confidence in the Cardano blockchain.
This fits in well with the chart technical analysis, where we can see that the bullish news is just in time for a new bullish cycle.
According to the CEO of the Cardano Foundation, some US states have reached out to discuss the development of a blockchain-powered voting system. One of the biggest concerns surrounding elections is election fraud, and blockchain provides the perfect solution.
The aim is to conduct elections with increased transparency.
It is high time that we use the power and possibilities of blockchain. For voting purposes, a lightweight blockchain solution will enhance the transparency and accountability of the voting processes.
At the same time, Gregaard also hinted at similar discussions taking place in the UK where there have been enquires to blockchain based solutions for voting. Considering that Cardano has been in this space for a while and is well established, the probability of them collaborating in a blockchain-based voting solution is quite likely.
The Cardano Foundation, like many other decentralized blockchain entities, have already incorporated blockchain-based voting into its operations to democratize decision-making. Cardano employs Catalyst, a platform enabling ADA holders to propose and vote on network projects. This way, Cardano has already proven with a working product a way for blockchain based voting.
Cardano may face competition if the idea gains traction in the US. Other blockchain networks may also try to propose their initiatives and it is not guaranteed that this project WILL ultimately fall to Cardano.
But Cardano is well equipped for such a challenge. Recent data shows a surge in developer activity on Cardano, surpassing even Ethereum. This suggests that developers increasingly viewing Cardano as an appealing platform with opportunities comparable to Ethereum.
The influence of Cardano has extended beyond voting initiatives, as evidenced by its collaboration with the Dubai Police on a blockchain pilot project. This project aims to securely share sensitive data with global law enforcement agencies like Interpol, showcasing the diverse applications of blockchain technology in combating crime.
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CryptoCheck
BINANCE:ADAUSDT
ADA: trade by breakout📊Analysis by AhmadArz:
🔍Entry: 0.571
🛑Stop Loss: 0.553
🎯Take Profit: 0.588-0.604-0.622-0.632
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Cardano, mid term tradingHappy Sunday everyone,
this analysis is a medium term analysis, which closes the position in the next two or three months.
In this analysis, I used a daily time frame, because if I used 4 hours, it wouldn't fit on 1 chart.
Cardano has touched channel up support that was formed since early November last year, and this pattern is still very strong and persists to this day.
We can take bullish steps now around the 0.5878 level, or wait to touch support again at the 0.5692 level, by pursuing the 52% profit projection at the up resistance channel at the 0.8710 level as profit target.
However, this time I recommend using a small margin, because it is not only the up channel that is formed, but also the head and shoulders pattern.
and if the up channel pattern breaks down, then what will happen is that bears will pursue the target of 0.3411 with a decline of -40%
My money management is simple in this trading,
I use 1% of equity without a stop loss and if the price falls to 0.3411, I make a buyback (martingale) with a volume of 2% or 3% of equity.
Hopefully this analysis is useful,
Don't forget to support and share this analysis.
Happy trading
Cardano Tumbles 10% Friday As Grayscale Dumps Its HoldingsCardano ( CRYPTOCAP:ADA ), a cryptocurrency, experienced a 10% decline in value over the week. This was due to Grayscale Fund's announcement that it would be removing the token from its portfolio. The decision has raised concerns among analysts that Cardano ( CRYPTOCAP:ADA ) may face further price consolidation or a drop in value.
Grayscale Digital Large Cap Fund manages $579 million in assets and previously had 1.62% of its portfolio, worth $9.4 million, invested in Cardano ( CRYPTOCAP:ADA ). However, the fund liquidated all of its CRYPTOCAP:ADA holdings and invested in Avalanche instead.
Cardano ( CRYPTOCAP:ADA ) may face a price consolidation or an impending drop following a lull in activity. Despite a 12% price drop, 48% of Cardano ( CRYPTOCAP:ADA ) holders remain profitable, while 49% are currently out of profit. The token has a Relative Strength Index (RSI) of 40.19 indicating a weak buying momentum.
Essential Cardano's weekly development report highlights a significant milestone for the project, having completed 88.6 million transactions. The report also mentions 164 launched projects, 1,353 projects under development, and over 9.86 million native tokens.
ADA: buy in wedge📊Analysis by AhmadArz:
🔍Entry: 0.6453
🛑Stop Loss: 0.3646
🎯Take Profit: 0.6548 - 0.6667
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Cryptolean Cardano ADA UpdateAs expected, ADA dipped to below $0.66 and re-tested the ascending daily trendline.
Above $0.66, bulls will be more active towards $0.76-$0.80.
An inability to return to the bullish territory above $0.66 will result in a bearsih pressure towards $56,97 and a bearsih break-out of the trendline will lead to $0.523.
ADA - Be Ready for a SUDDEN PUMP📉Hi Traders, Investors and Speculators of Charts📈
Fundamentally - I'm no fan of Cardano. In a certain sense it gives me XRP2.0 vibes, with the cult following community and all. Over-promise and under-deliver with youtube shillers is XRP style and raises red flags. Ultimately, I believe crypto is bigger than one person , and most definitely bigger than than one industry expert / founder. These are a few reasons as to why fundamentally, I'm not an ADA fan.
HOWEVER. As I've said many times before, any coin can and will be traded by whales. Herewith lies opportunity for retail traders, IF you manage to get a good entry. From a chart analysis, Cardano has broken out of accumulation phase by forming a clear bottom. We even start to see glimpses of a new bullish cycle starting as the price makes higher lows.
To the left from a weekly outlook, a wick to the purple 200d moving averages is possible. On the right, from a daily perspective, we'd like to see the turquoise 100d moving averages hold:
I believe it's possible for the price to continue increasing from here and I even believe a hard and sudden, random pump is possible (likely followed by a sudden dump). I'll be looking for increases 30% and 45% from here, as near term targets. Higher is possible, but I'll leave higher targets for a later post once we have actually achieved these price levels. You may need some patience though:
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CryptoCheck
KUCOIN:ADAUSDT COINBASE:ADAUSD
Cryptolean Cardano ADA Update Last two weeks, in the daily chart ADA is teasing the key resistance zone of $0.76-$0.80.
Above $0.80, bulls will take control of the ADA price chart towards $1.
A daily candle closure above $0.80 will push ADA price towards $0.90 and higher.
Below $0.66 is the bearish zone and ADA price will decline towards $0.57 for another re-test of the ascending daily trendline.
Intraday Chart
The ADAUSDT 4-Hour chart is in the bullish territory and holding the key intraday support of $0.736.
A reversal from its current price location is likely and a bullish rejection of $0.736 will push Cardano to the key intraday resistance zone of $0.84-$0.88.
A bearish dip to $0.69 or, even better, to $0.65 and a bullish rejection of one of these levels could offer a long trade towards $0.84-$0.88 and higher.
Like once read.
Thank you!
ADA: sell-high buy-low📊Analysis by AhmadArz:
🔍Entry:
sell:0.758
buy:0.598
🛑Stop Loss:
sell:0.788
buy:0.562
🎯Take Profit:
sell:0.726-0.687-0.654
buy:0.662
🔗"Uncover new opportunities in the world of cryptocurrencies with AhmadArz.
💡Join us on TradingView and expand your investment knowledge with our five years of experience in financial markets."
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