ADA - RECTANGLE BOTTOMSWe are facing ADA designing the pattern called RECTANGLE BOTTOMS where the price after fall, stay in sideway (into a rectangle) for period of time before broke it in a upward movement. If you want more security in trade, you can wait the price touch the border inferior but it may not happens because the Stochastic is showing that the baseline's low is more UP now. You can see the same scenario for MKR, RSR, HEDERA.
ADABULLUSD trade ideas
Cardano: struggle continuesADA continues to struggle to sustain its price at higher levels. During the previous week there had been more negative news, when project Ardana (DANA), a DeFi project based on blockchain Cardano, was halted due to issues with funding and uncertainty over its actual period of finalisation. At these tight times, it was not at all good news for ADA. The only positive news at this moment is that the volumes of trading are so decreased, that it was impossible to push the price higher to the down side.
ADA reached new historically lowest levels during the previous week, when the price reached level of $0.29. Support line at $0.30 was tested during the whole week. On a positive side is that ADA managed to sustain this level, ending the week at $0.31. On the negative side is that selling orders continue to be dominant ones. RSI had incremental moves from 34 to 38, still exposing significant weakness of ADA`s market, and investors' perception of the oversold side. Moving averages of 50 and 200 days continue to move without any change, as two parallel lines with clear downside trends.
In case that there is no more negative news for ADA, it might be expected for the coin to move in a relatively flat mode, between $0.30 support line and probably $0.33 level. Any sort of significant moves are impossible with such low trading volumes.
ADAUSD | Wave Analysis | Giant Bull Flag Ending Diagonal +60%Price action and chart pattern trading
> A possible ending diagonal minor 5-wave with a bull flag pattern as well as RSI bullish divergence
> An upcoming reversal supported by a strong harmonic pattern - bullish deep crab squeezed below EMA20D - Entry point zone
> Target TP1 @ Upper bull flag resistance zone +30% and TP2 @ X2 of Bull Flag EMA200D zone +60%
> Stop Zone @ lower support of bull flag -10-15%
> Risk reward ratio: 2:1 and 3:1 for short-medium term trade
Always trade with affordable risk and respect your stoploss, nothing 100%
Weekend Update: Starting Coverage on ADA: Cardano Those who follow me know I'm a fan of Tier-1 Crypto (BTC, ETH and SOL). But I have been keeping tabs on ADA for a while now from a price action standpoint. Its layered architecture seems to be an interesting alternative to other ecosystems; as well as, the network can become more decentralized than others. ADA would NOT be a utility contender to the likes of Solana. It is PoS like Solana but its TPS is not even worth discussing when even mentioning Solana. That is not a ringing endorsement for ADA but considering it's TPS is still 15X faster than ETH and almost 30X that of BTC, its other attributes are interesting to me. Nonetheless, I believe the Solana ecosystem can learn something from ADA regarding the 2 most prominent features I can attribute value to above.
From a technical standpoint, ADA is in much the same position as Tier-1 with one exception...it's start. I have discounted the entire pattern from inception to March 2020 as its participation is something I would not associate applying EWT to. If anyone has concerns, questions on why I have chosen to do that, please leave a comment. From that timeframe, the above chart applies.
I would anticipate that ADA will strike the .382% extension of the initial pattern I'm counting sometime in the next two years. The .382% should represent wave i of I of 3. Wave 3 could take a decade to unfold, and if ADA is just following an ideal path, could be worth a whopping $1,381.00 in 2030-2035. I will update this chart from time to time but only on a daily increment basis. Even though I have added it to my coverage basket, I have no plans to post micro counts and hover of each and every price machination into the future. My conclusion is ADA could be a very lucrative investment to buy, stake and forget about it.
Prior to posting this update: I did purchase 10,000 ADA and will stake in either my Trust Wallet, or my Atomic Wallet....currently sitting in my Coinbase Account.
Best to all,
Chris
see ADA short term bullish idea, SUPER R/RAre you able to follow this illustration? this is a breakdown on how market algorithms move, we don't get it right %100 (we're human), but close :) please leave a comment and let me know your thoughts. Open to questions and dialogue.
Best,
Brothers In Bitcoin
Cardano Breakout ConfirmationI think Cardano has now confirmed it's breakout.
I expect some volatility in the coming days.
I believe Cardano will act very independent from BTC.
Meaning I don't think it will be affected much by BTC swings as some other crypto currencies.
I believe Cardano will retest ath's in this next push up and reach $4+.
Accumulate...Like many other alts they completed 5 waves up which is likely a larger wave 1 providing our starting point holds and no new lows are made, I'm of the belief that the majority of these major corrections will be a big wave 1-2 and people look back at how cheap these prices once were in the future.
Cardano non popular chart 💔Update:
Cardano non popular chart 💔
I HODL ADA for long-term
Looking on weekly chart without emotion and bias...
ADA might correct🔻much lower dear Crypto Nation
Even $0.095 or $0.053 would not be the end of future price gains - just Log-Fib
Let me know your thoughts in the comments🤗
⬇️⬇️⬇️
Likes and Follow for updates appreciated🤗
Disclaimer:
Not financial advice
Do your own research before investing
The content shared is for educational purposes only and is my personal opinion
Cardano (ADA): holding $0.3 supportMarkets are currently calming down after a significant shock after the FTX collapse, so the price of ADA was moving in a slow manner. The price of the coin reached its highest weekly level at $0.34, and reverted a bit to the downside, to the lowest weekly level at $0.32. Daily trading volumes significantly decreased, so it was not possible to move the price to any direction. At moments on the market like the one we are currently facing, this is actually good news.
RSI movements were following the spot price, in which sense, the indicator had incremental changes of value during the week, between 40 and 37. Markets are still reluctant to choose the side. Moving averages of 50 and 200 days continue with their path as two parallel lines with a clear down trend.
Until all the news related to the scandal are digested, significant moves on the market should not be expected. In this sense, during the week ahead ADA might continue its side trading between levels of $0.3 up to $0.35.
ADA/USD - still in its Falling Wedge PatternHere is a closer look at this ADA/USD 1d chart.
Just like BTC, ADA is still in its massive Falling Wedge Pattern.
Here is a closer look at the Average Directional Index (ADX DI).
Once this world wide Recession has fully bottomed, for those that are prepared, there will be truly amazing opportunities to acquire your crypto of choice at a real bargain price ready to ride the next cycle upwards.