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ADAUSD trade ideas

Trade ADA/USDTCryptocurrency traders have been keeping a close eye on the dominance of altcoins in the market. However, recent trends indicate that altcoins dominance is decreasing due to vertical and horizontal resistance. This has been coupled with the continued bleeding in the market, which is creating a perfect opportunity for traders to short ADA. BTC dominance is experiencing a bullish retest, which is an indicator of a bullish market trend for Bitcoin. This trend is likely to have a significant impact on the value of other cryptocurrencies, including ADA. As altcoins continue to experience decreasing dominance, it is becoming increasingly clear that traders should be cautious when investing in these assets. Shorting ADA at this time presents an excellent opportunity for traders to profit from the current market conditions. With the dominance of altcoins on the decline, it is becoming increasingly challenging for these assets to gain value in the market. As such, a short position on ADA could yield substantial returns for traders. In conclusion, with the current market trends indicating a decrease in altcoin dominance, coupled with the continued bleeding and bullish retest of BTC dominance, shorting ADA presents a viable trading opportunity. Traders should take advantage of this opportunity to profit from the current market conditions and maximize their returns.
BITFINEX:ADAUSDShort
by Quotum_consultancy
Cardano: chasing oversold sideDuring the previous week ADA clearly started its reversal move. The support line at $0.40 had been clearly broken at the beginning of the week, and the coin continued its road down to its minimum weekly level at $0.37. Selling orders are prevalent at the end of the week, in which sense, it might leave some space for further drop in price until a clear oversold side is reached. During the whole week, RSI was moving below level of 50, finishing the week around 42. This is another indication that the market is chasing an oversold side. Moving average of 50 days is slowing down its divergence from MA200, putting into question the formation of the Golden cross. Current charts are clearly pointing that ADA is on the road toward the oversold side. Current price fall stopped shortly around $0.38 level; however, it should be treated as only a short term stop for ADA, on a road toward the $0.35 support line. There is some probability that this level might be reached during the week ahead. On the opposite side, there is a low probability that $0.40 resistance might be tested.
COINBASE:ADAUSD
by XBTFX
2
Cardano: emerging selling orders ADA had a relatively solid week. Although its price was suppressed to the downside and the lowest weekly level at $0.37, still the coin managed to make another move toward the $0.40 resistance line as of the end of the week. Highest weekly level was $0.41. Still, as of the weekend, selling orders started to emerge, which might impact the price of the coin at the start of the week ahead. Three weeks ago RSI was in overbought territory, so it was expected that the indicator will take the road to the downside. During the previous week, RSI was still weakly holding above the level of 50, with indication that there is no strength for the upside. Positive development is that MA50 continues to diverge from its MA200 counterpart, and supports the Golden cross. After reaching a clear overbought side, ADA entered into a cycle of short reversal. Current charts are indicating lower probability that the coin will be able to clearly break the $0.40 resistance line in the coming week. There is a higher probability that the price will shortly revert to the downside, at least till the $0.37 level, with lower probability that the support line at $0.35 might be tested.
COINBASE:ADAUSD
by XBTFX
Cardano (ADA) to $3.50So 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 3-day chart the RSI is highlighted with two thick orange lines. You see RSI below 33, it’s a buy. Above 77 (on 3-day chart remember), it is time to consider managing risk. Right now RSI is at the same level as it was in December 2018 around 2-3 cents. This is a fantastic buying opportunity at this time. A buy from 37 cents is amazing if you can get it. On the 3-day ADA / BTC pair (below) a ‘incredible buy’ signal prints within the falling wedge, a breakout would result in a 500% increase. Is it possible price action falls further? For sure. Is it probable? No. Good luck! Ww Type: Trade Risk: <=6% of portfolio Timeframe: 1-4 months Return: 10x
BINANCE:ADAUSDLong
by without_worries
177
Cardano: ending a reversal ?The price of ADA was strongly supported by the news about Milkomeda`s EVM project during the previous period, which pushed the price to the higher grounds and level of $0.46. Still, due to generally negative market sentiment, the price could not hold at this level, so it entered into a bit higher reversal down to $0.37 on Friday. Still, the coin is finishing the week by testing the $0.40 resistance line. Two weeks ago RSI reached a clear overbought side, which was an indication of forthcoming short reversal. Cycle of reaching the oversold side is still not over, as the indicator finished the week around level of 44. On a positive side is that the MA50 is still diverging from its MA200 counterpart and is still supporting the Golden cross. As of the weekend, buying orders emerged, which is generally positive for the coin. It means that the price could be supported at current levels during the week ahead. The market will continue to test the $0.40 resistance line, with lower probability that it might be clearly breached to the upside. On the opposite side, there is a weak probability that $0.35 support might be tested in the week ahead.
COINBASE:ADAUSD
by XBTFX