Forecasting Breakouts on ADAWelcome back to my learning series everyone. In this chart I discuss my opinion on a potential trade and breakout forecast for ADA. I do not have a bias for ADA, I am following a trading guide that I am adding my own analysis to, and the charts just happen to be ADA. Thanks everyone!
ADAUSD.P trade ideas
Identifying Trends on CardanoHello Everyone,
I have always had a passion for the markets (especially crypto) and I have decided to make it my career. I was a meteorologist in the military, which believe it or not, is very similar to chart analysis. I am producing charts in a learning series that I would really like to receive feedback on from the pros here, and I hope I can also assist those who are also new to trading!
This chart will be identifying trends on Cardano. Feedback is greatly appreciated. Thank you everyone!
Too obvious Cardano head & shoulders?Cardano could be going slowly down another 12% until end of June. I would not be surprised that is the case, but at the same time it seems too obvious path. To me, TOTAL3 (#altcoins) has another leg down that can occur faster than that, and then I foresee a rebound during next month. Maybe not for ADA though....
Cardano: Winnie the Pooh 🍯Like the honey-loving bear Winnie the Pooh, Cardano should grab deeper into the orange-golden honeypot between $0.39 and $0.31 to finish wave (ii) in blue. Although the main requirements to conclude the current movement have already been fulfilled by touching at the orange zone and Cardano could thus take off anytime, we rather expect the altcoin to advance ideally until the 100.00%-retracement at $0.34 before turning upwards. As soon as wave (ii) in blue is indeed complete, our crypto-friend should expand wave (iii) northwards.
ADA (Cardano) lets take some profit on short for now.#ADA /USD TA Update:
CRYPTOCAP:ADA currently trading at $0.3594
According to Coinlion Trend Trader Indicator, we got en Exit Point Alert for ADA at $0.4 (04/21)
Coinlion Trend Trader Indicator entered short at 0.3864 the 4th of may.
Then takes 2 times Profit :
1) $0.365 (20% exit position)
2) $0.362 (10% exit position)
(6,5% Profit).
There is a strong resistance at the 200EMA. The same which has rejected ADA many times before
But we have broken the descending channel.
Now we have a support on the 200SMA at $0.352 and a liquidity zone support between $0.2986 and $0.30
Cardano can test again the channel which should be a support now aligned with the 200SMA and 50SMA around 0.357
+ we can see that ADA is oversold. The trend might change soon as whales are accumulating a lot ADA.
Lets see what happens and follow the indicator instead of our emotions.
What do you think ?
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#ADA doomsday scenario cast!Inherent in the risk of buying your favourite #crypto
is to watch fade into non- relevance
coupled with a non event #BITCOIN halvening which will happen one day!
Just throwing out a what if scenario for #cardano
those levels yielded a wonderful opportunity twice before,
could it be a third time?
CARDANO (ADAUSD): Very Bearish Setup Explained
ADAUSD formed a huge head & shoulders pattern on a daily.
Forming the right shoulder, the price also made a descending triangle pattern.
Both the triangle and the h&s had the same neckline.
It was broken yesterday and a daily candle closed below that.
I believe that the coin may drop lower now.
Goals: 0.346 / 0.325
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Trade ADA/USDTCryptocurrency traders have been keeping a close eye on the dominance of altcoins in the market. However, recent trends indicate that altcoins dominance is decreasing due to vertical and horizontal resistance. This has been coupled with the continued bleeding in the market, which is creating a perfect opportunity for traders to short ADA.
BTC dominance is experiencing a bullish retest, which is an indicator of a bullish market trend for Bitcoin. This trend is likely to have a significant impact on the value of other cryptocurrencies, including ADA. As altcoins continue to experience decreasing dominance, it is becoming increasingly clear that traders should be cautious when investing in these assets.
Shorting ADA at this time presents an excellent opportunity for traders to profit from the current market conditions. With the dominance of altcoins on the decline, it is becoming increasingly challenging for these assets to gain value in the market. As such, a short position on ADA could yield substantial returns for traders.
In conclusion, with the current market trends indicating a decrease in altcoin dominance, coupled with the continued bleeding and bullish retest of BTC dominance, shorting ADA presents a viable trading opportunity. Traders should take advantage of this opportunity to profit from the current market conditions and maximize their returns.
Cardano: chasing oversold sideDuring the previous week ADA clearly started its reversal move. The support line at $0.40 had been clearly broken at the beginning of the week, and the coin continued its road down to its minimum weekly level at $0.37. Selling orders are prevalent at the end of the week, in which sense, it might leave some space for further drop in price until a clear oversold side is reached.
During the whole week, RSI was moving below level of 50, finishing the week around 42. This is another indication that the market is chasing an oversold side. Moving average of 50 days is slowing down its divergence from MA200, putting into question the formation of the Golden cross.
Current charts are clearly pointing that ADA is on the road toward the oversold side. Current price fall stopped shortly around $0.38 level; however, it should be treated as only a short term stop for ADA, on a road toward the $0.35 support line. There is some probability that this level might be reached during the week ahead. On the opposite side, there is a low probability that $0.40 resistance might be tested.
ADAUSD (Daily) - Bearish reversalHi Traders
ADAUSD (Daily Timeframe)
Waiting for the downward break of 0.377 support level which will complete a bearish trend reversal pattern to go SHORT. Only the upward break of 0.419 would cancel the bearish scenario.
Trade details
Entry: 0.377
Stop loss: 0.439
Take profit 1: 0.350
Take profit 2: 0.307
Score: 7
Strategy: Bearish reversal