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: It looks like the wave (II) correction is complete and the price is still likely to move up. Look for an opportunity to join the wave (III) uptrend.
Cardano/U.S. dollar (ADAUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bearish Momentum.
ADA/USD Elliott Wave technical analysis
Function: Counter Trend
Mode: Corrective
Structure: Zigzag
Position: Wave C
Direction next higher degrees: Wave (2) of Impulse
Details: Wave (2) is likely to end and the price is re-entering the uptrend.
Cardano / U.S. dollar (ADAUSD) Trading Strategy: It looks like the wave 2 correction is complete and the price is still likely to move up. Look for an opportunity to join the wave 3 uptrend.
Cardano / U.S. dollar (ADAUSD) Technical Indicators: The price is below the MA200indicating a downtrend, The Wave Oscillator is a Bearish Momentum.
Cardano Elliott Wave technical analysis [Video]
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