Full Cardano vs Tether Chart Analysis by request (ADAUSDT #1)
The next one is Cardano vs Tether (ADAUSDT), also the top mentioned Altcoin but in the USDT pairs section.
We have 10 ALTSBTC and 10 ALTSUSDT on the list.
This was undisputed #1.
So, let's look at the chart.
In this instance I am going for the weekly/long-term chart because Cardano has its own cycle.
This is something important and that I mention very often, when I say Altcoins I am referring to ALL the Altcoins minus the TOP15/20 by market capitalization, because these TOP15/20 BIG altcoins can have their own market cycle.
The rest tend to move in a more synchronised way, easily predictable.
Now, I just got into the Altcoins vs USD/USDT just a few months ago and there is a reason.
These pairs have a chart that is basically identical to Bitcoin. They tend to move in the same manner give or take a few months.
Some move a few months ahead, others a few months behind.
Basically all the ALTSUSDT pairs have the same chart, with few exception.
If you can find out the ones that are leading the market, you can easily predict what the rest will do.
Here I am going for the long-term chart, a longer timeframe, and that is the Weekly (W | 7 Days per candle) because this one is way more advanced than what we just saw, SCBTC.
Cardano (ADAUSDT) hit a low back in March 2020, same as Bitcoin, and has been growing since.
Reading the chart here is very easy but the difficult part is to try and predict what will happen next but we don't predict, we map the chart, calculate and prepare.
To start, we have a bullish chart.
Bullish trend.
Bullish cycle.
Prices trading above EMA10 signals that the bulls are in control.
This is only shy though as some struggle is going on.
In this chart I am mapping the resistance levels as well as support.
All the dotted lines marked above the current price are the resistance levels (targets) and the lines below are for support.
We also have working as support our trendlines, one set with the candle close and another one with the candle wick.
We also have the fib. retracement tool with multiple level as well as the EMAs, these coincides in some points which makes then stronger.
Now these analysis. ADAUSDT.
Volume has been dropping but is pretty much irrelevant as a signal as this point.
If prices go up we can get strong volume, if prices go down the same.
The MACD is showing a bearish cross with a red histogram, signaling downward pressure, the RSI is still strong.
We have bearish divergence between the RSI and ADAUSDT but not with the MACD.
Conclusion
If ADAUSDT can stay above $1.945 we can expect for its price to grow.
Below this level, we are aiming at EMA50 ($1.428) as the next support.
The bulls are ahead.
The market is green.
We will see how it goes.
The way we trade, we prepare for all scenarios, we buy and we hold.
If prices go below our stop-loss, we close the trade at a loss.
If prices go up and hit our targets, we collect profits and rejoice.
We do not predict the market, we use charting as a tool to support our calls.
All this information is my opinion only and shared based on my own experience after years and years looking daily at these charts.
This is not financial advice.
Thanks a lot for your amazing and continued support.
Namaste.
We have 10 ALTSBTC and 10 ALTSUSDT on the list.
This was undisputed #1.
So, let's look at the chart.
In this instance I am going for the weekly/long-term chart because Cardano has its own cycle.
This is something important and that I mention very often, when I say Altcoins I am referring to ALL the Altcoins minus the TOP15/20 by market capitalization, because these TOP15/20 BIG altcoins can have their own market cycle.
The rest tend to move in a more synchronised way, easily predictable.
Now, I just got into the Altcoins vs USD/USDT just a few months ago and there is a reason.
These pairs have a chart that is basically identical to Bitcoin. They tend to move in the same manner give or take a few months.
Some move a few months ahead, others a few months behind.
Basically all the ALTSUSDT pairs have the same chart, with few exception.
If you can find out the ones that are leading the market, you can easily predict what the rest will do.
Here I am going for the long-term chart, a longer timeframe, and that is the Weekly (W | 7 Days per candle) because this one is way more advanced than what we just saw, SCBTC.
Cardano (ADAUSDT) hit a low back in March 2020, same as Bitcoin, and has been growing since.
Reading the chart here is very easy but the difficult part is to try and predict what will happen next but we don't predict, we map the chart, calculate and prepare.
To start, we have a bullish chart.
Bullish trend.
Bullish cycle.
Prices trading above EMA10 signals that the bulls are in control.
This is only shy though as some struggle is going on.
In this chart I am mapping the resistance levels as well as support.
All the dotted lines marked above the current price are the resistance levels (targets) and the lines below are for support.
We also have working as support our trendlines, one set with the candle close and another one with the candle wick.
We also have the fib. retracement tool with multiple level as well as the EMAs, these coincides in some points which makes then stronger.
Now these analysis. ADAUSDT.
Volume has been dropping but is pretty much irrelevant as a signal as this point.
If prices go up we can get strong volume, if prices go down the same.
The MACD is showing a bearish cross with a red histogram, signaling downward pressure, the RSI is still strong.
We have bearish divergence between the RSI and ADAUSDT but not with the MACD.
Conclusion
If ADAUSDT can stay above $1.945 we can expect for its price to grow.
Below this level, we are aiming at EMA50 ($1.428) as the next support.
The bulls are ahead.
The market is green.
We will see how it goes.
The way we trade, we prepare for all scenarios, we buy and we hold.
If prices go below our stop-loss, we close the trade at a loss.
If prices go up and hit our targets, we collect profits and rejoice.
We do not predict the market, we use charting as a tool to support our calls.
All this information is my opinion only and shared based on my own experience after years and years looking daily at these charts.
This is not financial advice.
Thanks a lot for your amazing and continued support.
Namaste.
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