Cardano seems to be approaching 50 MA resistance. It is most likely to fail breaking it as it is the first test.
If it fails then it is unlikely to hold a dollar on the way down, since it has been tested several times in the past.
My personal opinion. Not financial advise.
Many persons won´t like this idea but the fact is that ADAUSD remains in the downtrend.
Small bounce only to get rejected from the downsloping resistance line is still possible but generally we expect ADAUSD to continue its downtrend as other alts most likely will do.
- September is usually bloody for crypto
- BTC.D at the key support - bounce expected which...
On a Weekly Chart
LONG POSITION -MOMENTUM STRATEGY - SWING
2307H +8 SINGAPORE
The findings of the following analysis are the sole opinions of the publisher of this idea and should not be taken as a piece of investment advice.
My Published Ideas are not 100% Accurate. There are many factors at a given time that can change the...
ADAUSD (4H Timeframe)
The market is in a downtrend, and we are waiting for an entry signal to go SHORT below the 0.310 support level. Only the upward break of 0.378 would cancel the bearish scenario.
Stop loss: 0.378
Take profit 1: 0.268
Take profit 2: 0.224
Strategy: Bearish breakout
Two days ago, I posted how the market is tipping over to the bullish side. Today is a continuation of that post. If you want to look at my previous post, please take a look here.
The volume weights for today to recreate this exact chart are the following (enter it in symbol...
adausd has formed a cup and handle pattern and its handle will continue to touch FL zone i mean $0.22 and after that this cryptocurrency can break out handle and touch main target for sure (final target $19)
i know this is crazy but what is not!!!
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Those who follow me know I'm a fan of Tier-1 Crypto (BTC, ETH and SOL). But I have been keeping tabs on ADA for a while now from a price action standpoint. Its layered architecture seems to be an interesting alternative to other ecosystems; as well as, the network can become more decentralized than others. ADA would NOT be a utility contender to the likes of...
ADA - cardano update ; an alternate bottom theory
Yellow fractal is the same as the other one but stretched out. The momentum signature fits quite well. Zoom out on the chart to see the momentum similarities.
Would mean the bottom is very close and quite soon. Double tap then up only.
That bigger drop option, the momentum doesn't feel right.
note the chart i...
Cardano (ADA) Analysis
-ADAUSD remains in the downtrend since September 2021.
- Respecting the Resistance on Weekly and Daily Timeframes
- Broken major support level at 0.40
- Expected price to be between 0.15-0.20.
I threw the tea leaves, I drew some lines and a cup.
Lets see how this one plays out over the longer term. Its just for fun really. IMO ADA bags are for long term HODL.
I've roughly modeled it on other past moves from big caps as they matured.
If you look at the dominance graph with ADA and ETH. It looks like ADA has just completed its first 'shelf'....
We are facing ADA designing the pattern called RECTANGLE BOTTOMS where the price after fall, stay in sideway (into a rectangle) for period of time before broke it in a upward movement. If you want more security in trade, you can wait the price touch the border inferior but it may not happens because the Stochastic is showing that the baseline's low is more UP now....
I think Cardano has now confirmed it's breakout.
I expect some volatility in the coming days.
I believe Cardano will act very independent from BTC.
Meaning I don't think it will be affected much by BTC swings as some other crypto currencies.
I believe Cardano will retest ath's in this next push up and reach $4+.
Price action and chart pattern trading
> A possible ending diagonal minor 5-wave with a bull flag pattern as well as RSI bullish divergence
> An upcoming reversal supported by a strong harmonic pattern - bullish deep crab squeezed below EMA20D - Entry point zone
> Target TP1 @ Upper bull flag resistance zone +30% and TP2 @ X2 of Bull Flag EMA200D zone +60%
So many messages on ADA. Buy / Sell?? “I saw you’re short from $3 and dismissed it - he’s mad”, “I saw the 50 cents idea, always spreading FUD” etc etc. lots of anger, lots of emotion. Folks emotion is a money killer. When I publish those short ideas they are not without study. And for free!
Is ADA a buy? Of course it is. Why?
Real real simple..
On the above...
Like many other alts they completed 5 waves up which is likely a larger wave 1 providing our starting point holds and no new lows are made, I'm of the belief that the majority of these major corrections will be a big wave 1-2 and people look back at how cheap these prices once were in the future.
Cardano is a proof-of-stake blockchain network which can run smart contracts and dApps on its ecosystem. Arguably the beginning of the third generation of cryptocurrency, founder Charles Hoskinson broke away from his position at Ethereum in 2015 to create what is now considered one of the more peer-assessed projects in the game. Its native token ADA (named after English mathematician Ada Lovelace) was launched in 2017 and is designed to oversee governance and encourage participation in its ecosystem.