Cardano Elliott Wave technical analysis [Video]

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]