#ADAUSDT | 15-MINUTE TIMEFRAME UPDATE
We can expect that #ADAUSDT will come to the zone of $0.7170 - $0.7020 (the grey area that you see on the chart). At that grey area, we can look for confirmation to open a LONG position.
The objective for this UPWARD movement is to achieve $0.7450 - $0.7580 - $0.7690 - $0.7900
Invalidation below $0.6900
Cardano with ticker ADAUSD can be trading in a higher degree wave (5) that can retest the December 2023 highs.
Looking at the short-term hourly chart, we see it slowing down for subwave iv correction before a continuation higher for wave v of (5) towards 0.70 - 1.00 target area. Ideal support comes here around base channel resistance line and 0.58 - 0.56 area.
Confluent Wave Analysis with price action and chart pattern trading setup:
> The third wave correction after doubled zigzag ABC pattern forming a valid inverted head & shoulders pattern with barrier triangle ABCDE wave - with confirmation fake breakout D and E wave.
> Entry at B-D downtrend line breakout / WMA50 week
> Target 1 @ 161.8% Fibonanci extension...
Greetings
Dear analysts and traders,
I hope you are doing well and are motivated for the week ahead. I wish you all the success in your business endeavors. Remember that success in trading lies in consistently defining and sticking to your rules.
As someone interested in the Elliott Wave Principle, I find it to be an invaluable tool for market analysis. I have...
This point seems to be good..Of course with all that is happening lately!
Of course the price will go down a little more..
(If it goes down)
then it would be a good opportunity to make a good profit.
* TIPS
**watch out for big players**
***and Always ALWAYS risk management***
ADA is currently trading within an ascending channel, with the price recently testing the upper boundary.
A breakout above the channel resistance, supported by a decline in Bitcoin dominance, could propel ADA towards $1.201.
Key support levels lie at $0.618 and $0.578, which could act as launchpads for further upward momentum.
Technical Analysis:
Cardano (ADA)...
Cardano (ADAUSD) hit a major low in early July 2023 at $0.23. This level was never visited again.
In September and October 2023, a higher low/technical double bottom happened at $0.24. We are now in the bullish zone.
Cardano moved and closed weekly above EMA100 but more interestingly and an even stronger signal is EMA300. ADA is trading above this level as...
As with the crypto market as a whole, we are optimistic about ADA. There are several indicators that suggest that this altcoin will outperform many others. There is currently a favorable entry opportunity for a long position in ADA. We are setting a tight stop loss and targeting the area just below $0.80 USD. Some Elliott Wavers give USD 0.84 as a price target. We...
Cardano weekly chart update
We have a beautiful bullish break above the important volume POC at 0.45 dear #CardanoCommunity 👀👍
Here are my TP levels based on FIB retracements
and please consider the lack of volume on the way up
TP1 at FIB 38.2% 🟢 0.60
TP2 at FIB 50.0% 🟢 0.825
TP3 = $1 mark⚪️
TP4 at FIB Golden Pocket 🟢 1.20
Of course a bearish scenario always...
The price action between June and October last year as minor wave 1 and 2 bugged me a lot. The move between June 8 and July 14 looks like an obvious 3 waves. I tried to make it fit with 5 waves, but it was a stretch. The current price action is also an obvious impulse move. The leading diagonal idea is not valid any longer since the current price action moved up...
ADA has made an unexpected move upward that has confirmed the next bull market. In my last analysis, I was keeping a leading diagonal count as the primary count. That also meant some serious corrections before the move up. However, ADA is making some great strides and the coin price is responding accordingly. If the June to July 2023 price action can be fit in a 5...
