ADA/USD Elliott Wave technical analysis
Function: Counter Trend
Mode: Corrective
Structure: Double Corrective
Position: Wave Y
Direction next higher degrees: Wave (II)
Details: The decline of wave Y is likely to end and the price is re-entering the uptrend.
Cardano/ U.S. dollar (ADAUSD) Trading Strategy: Overall the correction in wave (II) position is likely to end and price is now rising again in wave (III). Look for an opportunity to join the uptrend from a short-term pullback.
Cardano/ U.S. dollar (ADAUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, The Wave Oscillator is a Bullish Momentum.
ADA/USD one-day chart
ADA/USD Elliott Wave technical analysis
Function: Counter Trend
Mode: Corrective
Structure: Double Corrective
Position: Wave Y
Direction next higher degrees: Wave (II)
Details: The decline of wave Y is likely to end and the price is re-entering the uptrend.
Cardano/ U.S. dollar (ADAUSD) Trading Strategy: Overall the correction in wave (II) position is likely to end and price is now rising again in wave (III). Look for an opportunity to join the uptrend from a short-term pullback.
Cardano/ U.S. dollar (ADAUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, The Wave Oscillator is a Bullish Momentum.
ADA/USD four-hour chart
Cardano Elliott Wave technical analysis [Video]
As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.
Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.
The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.
Recommended Content
Editors’ Picks
Justin Sun's Tron-based stablecoin USDD spark concerns after $732 million Bitcoin withdrawal from reserve
TRON's DAO, which oversees the USDD stablecoin reserve, sparked fears among investors on Wednesday after withdrawing 12,000 Bitcoin valued at $732 million from its reserve pool. The move fueled concerns about the decentralization of USDD.
Altcoins NEAR, IMMUTABLE, AVAX rallies amid market downturn
Avalanche (AVAX), ImmutableX (IMX) and Near Protocol (NEAR) tokens rallied on Thursday as all three networks appeared to have experienced positive investor sentiments. AVAX and IMX are currently up 4.2% and 10%, while NEAR slightly declined after rallying 4%.
Ethereum ETFs record longest outflow streak, exchange net flow indicates mounting selling pressure
Ethereum is down 1% on Thursday as its ETF and exchange net flows suggest that sellers dominate the market. Despite the selling pressure, Ethereum co-founder Vitalik Buterin shared a post depicting its growth across several metrics.
Solana meme coin Popcat surges over 20% following Binance futures and KuCoin listings
Binance exchange announced it had listed perpetual contracts for Solana meme coin POPCAT on Thursday with up to 75x leverage. The listing means Binance's wide user base can now gain leveraged exposure to the price of POPCAT.
Bitcoin: Signs of weakness persist
Bitcoin (BTC) trades above $58,000 on Friday after after testing and failing to overcome the resistance level around $62,000 earlier in the week. The risk-on mood returned to markets this week, Marathon Digital added 4,141 BTC worth $249 million to its holdings and the US SEC approved a MicroStrategy leveraged ETF, potentially giving investors more exposure to Bitcoin.
Moneta Markets review 2024: All you need to know
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.