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ADA → Cardano to $0.40? or $1.40? Get your Longs Ready!ADA completed its 230% price increase since October 2023 and now appears to be finding some resistance. Should we short here? How do we trade this?  🤔 Shorting is not ideal on the Daily timeframe. Since October 2023, ADA has put in three legs in a bull trend, a double-top reversal pattern that has come off of an ascending wedge (bearish pattern). We're now finding resistance below the Daily 30EMA with a gap down to the Daily 200EMA. This analysis screams a two-legged pullback to the 200EMA, likely in alignment with the Bitcoin halving that's about to happen in April 2024. Short on the 1HR timeframe, but get your equity ready for a long position when ADA comes into contact with the $0.53-$0.57 price area. Look for a strong bull candle closing on or near its high off of the Daily 200EMA, this is our signal bar and a reasonable one to enter on with a 1:2 Risk/Reward Ratio, aiming for a conservative target of $0.775. A confirmation bar should take us somewhere in the $0.60-$0.65 range. If we see this, given the crypto market's similar sentiment after the halving, it's reasonable to enter at a 1:2 risk reward aiming for the $1.20 area. It's reasonable to take half profits at 1:1 Risk/Reward and swing the latter half of your position to 1:2, 1:3, or even 1:4 Risk/Reward on this timeframe, depending on how the price action plays out. This analysis is in alignment with my recent ADA Lifetime Analysis as seen here: 💡 Trade Idea 💡 Long Entry: $0.55 🟥 Stop Loss: $0.4375 ✅ Take Profit #1: $0.663 ✅ Take Profit #2: $0.775 ⚖️ Risk/Reward Ratio: 1:2 🔑 Key Takeaways 🔑 1. Three legs in a bull trend 2. Double top reversal pattern which has come off of an ascending wedge (bearish pattern) 3. Finding resistance below the Daily 30EMA with a gap down to the Daily 200EMA. 4. Look for a 2-legged pullback to the 200EMA, likely in alignment with the Bitcoin halving that's about to happen in April 2024. 5. RSI is at 48.00 and Above the Moving Average, supporting the idea of a pullback to the 30.00 area below the Moving Average. 💰 Trading Tip 💰 It's reasonable to take half profits at the first resistance target in a long trade or the first support target in a short trade. Using a 1:1 Risk/Reward Ratio for your first target, you can move your stop loss up to your entry price, locking in profits. This allows you to watch the rest of the trade execute without worrying about losing money, which helps improve trading psychology and the equity in your account. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and Follow to learn more about: 1. Reading Price Action 2. Chart Analysis 3. Trade Management 4. Trading Psychology
KRAKEN:ADAUSDLong
by TraderEngineering
ADA → Cardano Threatening to Fall to Support. Should We Short?ADA closed the large bull gap from our previous analysis and found support at the large bull candle open. We did not get a higher high and Bitcoin is showing signs of a pullback. Should we short here? How do we trade this? 🤔 We should not short ADA on the Daily timeframe. The time to short was after the double top reversal near the $0.60 price range, we're too far away from the proper stop loss placement relative to Support Zone #1. You can find short trades on the 1HR timeframe or lower but for the Daily/4HR timeframe, we need to look for long entries. We can wait for a bounce on Support Zone #1 to enter a long, but the crypto market may be looking at a more significant pullback. It's difficult to tell how the alt coin market will react to say, a 30% Bitcoin pullback. The point is, don't think that Support Zone #2 isn't a probable target. Either zone is reasonably to long, but we need to wait for the buy signal and confirmation bars before entering. A good buy signal is one with a long wick on the bottom at least 1/3 the size of the body closing on or near its high. A confirmation candle will be a strong bull candle closing on or near its low following the buy signal buy 1 to a few bars. Until then, it's best to trade a different currency pair and wait for a good long opportunity here on ADA. 💡 Trade Idea 💡 Long Entry: $0.4210 🟥 Stop Loss: $0.3734 ✅ Take Profit #1: $0.4690 ✅ Take Profit #2: $0.5640 ⚖️ Risk/Reward Ratio: 1:3 🔑 Key Takeaways 🔑 1. Large Bull Bar Gap Closed. 2. Strong Support on the Daily 30EMA. 3. Lower High after the 30EMA bounce. 4. Bad Risk/Reward Ratio for a short, wait for a long setup at Support Zone #1 or Support Zone #2 5. Bitcoin Showing Strong Reversal Signals, Impacts Market Sentiment. 💰 Trading Tip 💰 It's reasonable to take half profits at the first resistance target in a long trade, or the first support target in a short trade. Using a 1:1 Risk/Reward Ratio for your first target, you can move your stop loss up to your entry price, locking in profits. This allows you to watch the rest of the trade execute without worry of losing money. This helps improve trading psychology and the equity in your account. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and Follow to learn more about: 1. Reading Price Action 2. Chart Analysis 3. Trade Management 4. Trading Psychology
KRAKEN:ADAUSDLong
by TraderEngineering
ADA → Cardano Coming Down! Where Will We Land? Let's Answer.Cardano had a fantastic measured move event from the breakout point on October 23rd, a move that I overlooked in my last couple of analysis! The price shot up from $0.27 to $0.41, pulling back into a bull flag, then ripping up from $0.41 to $0.62! Now that the move is complete, where do we go from here? How do we trade this? 🤔 The measured move is usually followed by a trading range, which can turn into a continuation pattern over time *OR* a reversal to the downside. We need more price action to determine the next moves. Right now we have a market that is burning hot on the upside, and RSI that is over 70.00, and the massive bear candle from last night that showed the bulls taking profits at this key level. Right now, we need more price action to justify an entry. Given the current datapoints, we should expect some sideways price action until the 30EMA catches up, but its likely we'll fall down toward the previous Resistance Zone that may not act as support. The test of that zone will give us strong evidence as to the next moves for Cardano. We need to see a strong bull signal and confirmation bar to justify a long. An RSI level of 50.00 or below would be ideal as well. Until then, it's reasonable to stay on the sidelines until more price action plays out. 💡 Trade Idea 💡 Long Entry: 0.482 🟥 Stop Loss: $0.437 ✅ Take Profit: $0.572 ⚖️ Risk/Reward Ratio: 1:2 🔑 Key Takeaways 🔑 1. Measured Move Complete! Trading Range or Reversal Likely. 2. Previous Resistance Needs to be tested as Support. 3. If Support Holds, Could go up for another test of the Previous High. 4. If Support Fails, Expected Lower Lows around 200EMA. 5. RSI at 70.00, Above Moving Average. Bias for Short-Term Short. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
KRAKEN:ADAUSDLong
by TraderEngineering
ADA → Breaking $0.40! This Analysis Shows a Cardano Moon Shot!Cardano is showing great bull strength toward the $0.40 price and has made a few attempts to break it! We're in the midst of a trading range pullback from the previous bull run waiting for the signal to go long. How do we trade this? Our bias for ADA should be bullish! We're fresh off of a bull run and are currently in a pullback. Much of the crypto market is in a similar holding pattern, including Bitcoin which has not yet broken its Weekly Resistance. Before jumping into a long, we likely need another pullback to the 30EMA and a strong bull signal bar followed by a strong confirmation bar closing on or near its high. Once those conditions are met we have a potential run to the next Resistance Zone at $0.45! Always be ready to change your bias. The next attempt to break resistance could result in a bear signal bar, along with Bitcoin, which signals a market reversal. We will consider the chart at that time but for now, watch for the bull signal bar to long! Trade Idea Long Entry : $0.375 Stop Loss: $0.353 Take Profit: $0.440 Risk/Reward Ratio: 1:3 Key Takeaways 1. Bull Breakout of 200EMA Followed by Bull Run. Bias to Long. 2. Bull Flag Continuation Pattern, Bias to Long. 3. Look for Support at 30EMA. 4. Do not Long until Bull Signal and Confirmation Bars Appear. 5. RSI at 55.00, below Moving Average. Bias to Short. You are solely responsible for your trades, trade at your own risk! If you found this analysis helpful, click the Boost button and let us know what you think in the comment section below!
KRAKEN:ADAUSDLong
by TraderEngineering
2
ADA LONG HOLDADA just finished 1 to 5 Elliot Wave Theory downwards, broke out of a downtrend and started an ABC correction, we are forecasting that we already finished B wave of a correction because it is 61.8% zone of a fib retracement so we expect price to reverse and start to rise until it hits liquidity zone in $2.37 zone. Cardano blockchain is in the actions of implementing Vasil Hard Fork in beginning of the summer (June of 2022) we already saw first stages and after every one of them being implemented price risen so as Cardano blockchains TVL. This Hard Fork implementation will allow it to deal with more dApps and improve users experience also NasdaQ has listed Cardano as one of the coins to buy and hold forever, so once this Fork will be launched in the market we should see price sky rocket. Target 2.368 Invalidation: 0.778 Entry: 0.97
COINBASE:ADAUSDLong
by vf_investment
1
Cardano / ADAUSDT Ready to fly 100% ✅✅We have very clear crypto to talk about, which is CARDANO what we see is really clean, We are in strong trend with strong impulse to up, and currently we are ending the correction, you can see price weakness perfectly, For now we keep eyes on this crypto, as I dont really trade futures, but I have bought my first level here, second I will buy after breaking minor resistance. Cardano is great fundamentally same time for now our team highly confirms to open buy position on this crypto. We confirm 100% our bullish impulse as soon as we break our resistance just above and mentioned on chart, First Target 4 USD Any question comment me bellow GOOD-LUCK Everyone @FxShzd
Long
by FxShzd
2
CARDANO IS BULLISH UNLIKE THE MARKETGreeting from IRAN to whole trading community 💙 CARDANO is moving through an ascending channel and , While most of the market was struggling with bearish attack ADA has achieved to made a new ATH yesterday (13th April) After that a new retracement move has started There would be 2 possible spot for reversal this retracement move First support would be mid-line of the channel and if this zone lost the next support would be 1.7$ support zone Note that market is shifting to the green coins like ADA and these green coins would be profitable in shot-term KEEP IT SIMPLE :)
Long
by nima-mohammadkhani
17