Bitcoin Pulling Back. And Altcoins depend on this ONE thing.Traders,
Alts are sitting precariously on a level of support right not. Will that support hold or will it fail? Let's look to the charts to find some more clues if we can.
Stew
ADAUSD trade ideas
ADAUSD - Cardano Short-term BEARISHHi guys, i put out an analysis on ADA 4 days ago, wanted to update my analysis with whats developing in the charts as we speak.
Lets jump right in with PRICE ACTION ( on daily timeframe)
We are currently in the process of breaking this short-term support line #3. Though we have not yet closed below, todays candle which is a relatively large bearish candle with upper wick indicates bearish activity. Lets see what happens end of day.
We are also below #4 line, horizontal resistance line that played major resistance. Important to watch how ADA reacts with this line as well. The temporary move above could of been a fakeout and we may need a bit more time to get above.
I believe lines # 3 and 4 will be hard to get over. But keep an eye, If this down trend is a fake out. But this scenario is less probably with how our indicators are overbought.
I am watching the green horizontal support line without a #. I believe price action to test this level first. But my major area i am watching is line#2 and purple line (200 day moving average) converge. This in my opinion is some major support. We have to see how price action reacts here.
I think this move is the move i was expecting from the BEARISH DIVERGENCE.
From that, we should look at our indicators and how the move.
RSI - We've come down below the yellow moving average. Usually when we are below the yellow line, we are dwn for some time. Watch to see which level it starts creating support.
MACD - This is a momentum indicator i use. A cross of blue line below orange is a bearish indicator. Also the histograms when they turn red is a bearish indicator as well. We are currently in the process of a bearish cross with red print. We need to watch this.
CONCLUSION: I believe ADA to be moving downwards from the pressure of the Daily BEARISH DIVERGENCE. With indicators showing bearish signs i believe this downward correction to be here for atleast the next couple of days if not a few weeks at most. This is not a bad thing. Overall trend of ADA however is bullish after confirming a breakout of MAJOR DOWNTREND RESISTANCE from all time highs of $3.00. (Look to the chart i posted below for more info).
Thanks for tuning in! If you liked this analysis. Please boost and follow! Comment below on your opinions of what you think and let me know if you agree or disagree.
I will be continuing to UPDATE about cardano, cryptos and more. Keep an eye out!
DISCLAIMER: This is not in anyway financial advise. I am not a financial advisor. EVerything expressed in my posts are my opinion and for educational purpose. Thanks
ADAUSD - BULLISH FLAGADAUSD is exhibiting a bullish flag pattern on the 4-hour chart, indicating a potential continuation of the uptrend. Furthermore, the absence of any divergence on the RSI may signify that the current momentum could persist. Traders may interpret this as a favorable opportunity to hold or open long positions.
ADAUSD Bearish Bat Harmonic PatternADAUSD is showing a Bearish Bat Harmonic Pattern.
The pattern's D point has been confirmed and there has already been a reversal from that point.
ADAUSD is now creating lower highs and lower lows, indicating a bearish trend.
Additionally, there is a divergence on RSI, further indicating potential downward movement.
ADAUSD (4H) - Bullish wave We2Hi Traders
ADAUSD (4H Timeframe)
A High probability, entry signal to go LONG will be given with the upward break of 0.4483 after the market found support at 0.4280. Only the downward break of 0.4280 would cancel the bullish scenario.
Trade details
Entry: 0.4483
Stop loss: 0.4280
Take profit 1: 0.4799
Take profit 2: 0.5156
Score: 9
Strategy: Bullish wave We2
adA IS BUllISh YESSSSSSSSSSSSSSSTL;DR Synopsis
Cardano price analysis reveals a bullish trend, with ADA/USD facing rejection at $0.4478.
Support for ADA is present at $0.4296.
Cardano price analysis is providing us with strong optimistic signs for the day. The bullish tide has been quite strong, as price levels have been growing at a regular and consistent rate. The price is currently at $0.4402, which is a significant victory for purchasers. More positive movement is predicted as support at $0.4296 is stabilized.]
All in all, Cardano price research reveals that the currency has been able to make a strong rebound today and buyers have been successful in pushing prices over $11.4402. However, the bulls must watch for the resistance at $10.4478, which could pose a barrier to further gains. The strong bullish momentum suggests that Cardano's price may rise above the given level if buyers maintain market pressure.
dm for more info
Ada and How I imagine it on the next cycle. I still wish for those 365,666,234 % gains but thats just like winning the Lotto, very hard to come across one of those trades. You can make good money by staying realistic about whats going on and always taking profits..
Cardano: reaching overbought side?There has been major progress for ADA during the previous week. Positive news from Cardano`s EVM company Milkomeda over network upgrade is finally strongly reflecting in the price of ADA. Although the coin started the previous week by testing $0.4 resistance, the coin managed to break this level and reached its highest weekly value at $0.46 last time the coin was at this level in February this year.
Major development occurred with the RSI indicator during the previous week, which reached the clear overbought side of the market. This indicates the potential for a short term turning point for ADA, which could enter into short term reversal in the coming period. Moving average of 50 days continues its modest divergence from MA200 counterpart, and weakly supporting the Golden cross.
It could be expected that the price of ADA will continue to be supported by the news from Milkomeda. In this sense, ADA will start the week ahead by continuing to test its current $0.45 resistance line. There is a low probability that the next resistance line at $0.5 might be reached during the week ahead. On the opposite side, due to potential for short reversal since the RSI reached a clear overbought side, ADA might turn to test the $0.40 support line for one more time.
Cardano / ADAUSD - Outlook Long term Bullish, Short term BearishHi guys. Welcome to my TA analysis on Cardano. Compared to some cryptos im liking how the charts have been for ADA. Just FYI this is purely Technical Analysis, i do not dive into FA at all and base my trading discussions strictly on TA.
That being said, i do use FA to determine which projects are likely to have strong company dynamics and actual use case when trading cryptos as ive been burned heavy before.
I will also be looking to chart more cryptos moving forward as i believe we are at the beginning stages of the crypto bull market. Make sure to tune in for more info on that in my future analysis.
Lets dive in:
First lets look at PRICE ACTION:
Look at the numbered trend lines i have drawn.
#1 line = Is this major resistance downtrend or "bear market" resistance line that formed from ADA HKEX:3 top back in August 2021. \
We have BROKEN OUT and tested it as SUPPORT along with covergence of support forming line #2 this intermediate support trend from Jan 2023.
THIS IS GREAT TO SEE as this means we have have broken the downtrend we were in since 08-2021.
Now does this mean the bottom has formed? Its possible, YES at $0.23 but do notice we can still technically test line #1 and go below $0.23 cents or near it at the least for double bottom even. But that depends on ADA BTC pair relation and how the bull move shapes up in terms of BTC dominance.
#2 line - this is an intermediate support line formed from Jan this year. If we cant stay above line #4 , the red resistance line we can test it at any point as support, im in the camp that maybe thewhite circled area where the 200 Day moving average intersects line #2 is a potential area to look at.
line 2 along with orange arrow forms a upward channel. Notice here how Orange arrow is acting as resistance and todays candle is looking bearish with upper wick.
#3 line - This line is a short term support line where in the coming days we can test, especially if the price action is pushed down by orange arrow.
#4 line - This line was major support back in May 2022, then acted as major resistance recently in Feb. We have to now see how price action acts as we come down to test it. We want to STAY ABOVE.
In the short term i believe we will DEFINITELY test where Lines #3 & 4 MEET. If we can stay above, act as support and bounce up. solid area to Buy in. But remember this could be a temporary fake out to the upside, meaning we are bound to come down. I would need solid confirmation that we stay above these 2 lines.
BUT a major area i would look to enter more positions will be the 200 DMA and line #2. That seems like it would be major support.
INDICATORS:
1. Purple line is the 200 day moving average (dma). Notice how we are above the 200 DMA this is also a great sign as long as we stay above it. The thing to pay attention is how and if/when we react again with this in the near future. We need it to be SUPPORT. I would like it also to start curving upwards, which it may do as we are starting to flatten out.
2. RSI - Important to note we maybe forming a lower high. But price action formed a higher high. This is bearish divergence. Which could push price down, causing price action to interact with drawn lines.
Todays close is important, as we created a peak and are pointed down.
3. ADX and DI - Also shaping up to be bearish divergence. Where bullish momentum is decreasing but price action seems to form higher high recently. Notice the white circled area, the green line is pointing down, showing a decline in bullish momentum
BEARISH DIVERGENCE is when price action is moving up forming higher high shown by the ORANGE arrow but indicators are pointing down forming lower highs also shown by arrow. Price tends to move down over time.
CONCLUSION: I think overall ADA seems more bullish than other ALTS but remember that doesnt mean we can't see lower prices than 0.23 cents and still be in a bull market especially if BTC dominance is strong. It is therefore important to gauge at BTC dominance and BTCADA pairings when going for longer term trades. There are loads of positives for ADA, like breaking the major resistance that was formed during downtrend from HKEX:3 and testing it as support. There are also alot of support if ADA does move down which just means more buying opportunity especially since i believe we are in the makings of the new bull run. A MAJOR WARNING however and something to watch carefully is the BEARISH DIVERGENCE and if and when it plays out. That could mean short term price drops. Look to the support lines drawn and the 200 DMA. But overall i believe Cardano is starting its bullish run and am long ADA until proven otherwise.
Hope this helped. If you likes what i put out, Please boost, follow and comment. Let me know if you agree or disagree. Stay tuned for updates and more charts on crypto and other assets as well. Look below for related charts especially chart on BTC and recent analysis on another ALT>
DISCLAIMER: This is by no means financial advice. I am not a fiancial advisor. The info expressed here are only my opinion and for educational purposes. When trading please maintain your risk management and protect yourselves with stop loss.
Flag patter on "Cardona(Ada)"It is already gives 15% return from its last Flag pattern.
(Education purpose only)
ADAUSD BULLISH TREND PRICE PREDICTIONADAUSD is making a series of HHs and HLs aligned with the concept of DOW THEORY and I believe this chart will continue its bullish trend and generate decent profits for me. Additionally, a bullish candlestick pattern such as Tweezer Bottom is forming after the recent HH showing buyers/bulls are currently in control of the market making a strong case for continued bullish movement.
My entry point for this trade is 0.453.
SL is set at 0.430 and my TP is set at 0.475.
To take advantage of this rising trend, I have applied another trade but this time TP 2 is set at 0.498 which gives me a risk-to-reward ratio of 1:1.5 for my 2 trades.
OVERALL RISK: 2%
{
(TRADE 1 : 4347.83 : approx USD 100 RISK),
(TRADE 2 : 4347.83 : approx USD 100 RISK)
}
REWARD: 3%
{
(TRADE 1 : 4347.83 : approx USD 100 REWARD),
(TRADE 2 : 4347.83 : approx USD 200 REWARD)
}
.7777 all walking sticks for ADAUSDYes my friends, walking sticks or Seven;
we will see on the way to heaven.
The sisters Pleiades...oh I digress and ramble so,
but I must type enough here in the description to appease the God's you know!
If I am wrong then remember this;
financial advice not this is.
HRO
ADAUSD cardano big Pump?hello everyone... alot of whales are jumping in the cardano lately... and recently the price has broken through main resistance level will it pull back? at this point chances are very slim since its heating up with investors.. as long bitcoin remains bullish to reach its highest at 32k.. most likely cardano will each it's highest at 0.60
in 4hr timeframe support are 0.44 and 0.42 it can likely test back to..
this is an update to my previous analysis...
good luck to all investor...
Trading Idea on ADA/USDBINANCE:ADAUSD
Based on the technical analysis of Cardano (ADA/USD) on the daily timeframe, a potential cryptocurrency trading idea could be to buy ADA/USD at the current price of 0.450, with a stop-loss order set at 0.400 and a target price of 0.600.
The rationale behind this trade idea is based on the recent bullish trend of ADA/USD, which has been trading above its 50-day and 200-day moving averages. This indicates a potential upward momentum in the price of ADA/USD, which could be a profitable opportunity for traders.
Furthermore, Cardano has been making significant progress in terms of development and adoption, which could further increase the demand for ADA in the long run. This is evidenced by the recent partnerships and collaborations announced by Cardano, as well as the growing number of users and developers joining the Cardano ecosystem.
However, as with any investment, there is no guarantee of future returns, and investors should always conduct their own research and seek professional advice before making any trading decisions. It is important to monitor the price movement closely and adjust the stop-loss order accordingly to manage risk effectively.
Cardano needs some fuel The coin has gone inside a downtrend until it formed a descending triangle. Previously, I indicated that it can be bullish if only breaks out the triangle. However, it went on to form another classical pattern " Inverse Head and Shoulders" the right shoulder has not completed yet, however, a volume may confirm its build up formation. Targets as highlighted in chart, let us wait for the neckline to be penetrated.
ADA/USD 1DAY UPDATE BY CRYPTOSANDERSHello, 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) rose for an eighth straight session on Friday, with today’s gains sending the token to a seven-month high.
ADA/USD raced to an intraday peak of 0.4441 earlier in today’s session, after trading at a low of 0.4115 on Thursday.
Friday’s surge in price saw Cardano climb to its strongest point since September 27, when prices hit a high of 0.4631.
Looking at the chart, today’s jump came following a breakout of a key resistance level of 0.4230.
the relative strength index (RSI) also moved beyond its own ceiling at 65.00 and is currently tracking at 71.06.
An upcoming ceiling at 72.00 now awaits ADA bulls, and should they fail to move past this point, earlier gains may fade.
This is not a piece of financial advice.
Thank you
ADAUSD Forecast ADAUSD appears to be bearish at the H1 with a potential to pulse up for a LH. One price target for a bias of 0.3701
ADA is Expected to 1.618 Fibo Extension in Next MoveThe price is expected to touch Fibonacci 0.618 and expected to retrace before continue projection to Fibonacci extension 1.618
This is for fundamental reference only and not a buy call.
ADA LONG? (SHANGHAI FORK DECISION)BINANCE:ADAUSD.P
The cardano (ada) has a chart pattern of a bullish symmmetrical triangle. This pattern may lead to the continuation of its current trend (uptrend). But keep in mind in the movement of bitcoin, as well as the upcoming shanghai fork for the eth network.
Cardano (ADA): $0.40 still resistsThe price of ADA continues to be supported by the announcement of Cardano`s EVM company Milkomeda over the forthcoming network upgrade, which will allow all users of Cardano network to access smart contracts on Ethereum VM through ADA wallets. The resistance line at $0.40 remains supported, but the coin did not manage to break this level for the last two weeks. The price of ADA was moving in a short range during the previous week, between levels of $0.37 and $0.40.
RSI is moving above level of 50 during the last two weeks, with its highest level at 61. At this moment, the market is still not ready to clearly choose the trading side. Moving average of 50 days started to diverge modestly from the MA200 counterpart, at least providing some indication that the actual Golden cross did occur some time ago.
Daily trading volumes are generally decreased on the crypto market due to market exhaustion on one side and Easter holiday, on the other. During the week ahead, it should not be expected to see some significant moves in the price of ADA. It might continue its current slow motion between $0.40 resistance and level of $0.37, with lower probability for testing of $0.35 support line.
