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Are Cardano whales gearing up for ADA price recovery rally?Large wallet investors in the Cardano network have boosted their participation in the altcoin. Since the FTX exchange crash, whale and shark addresses owning 10,000 to 10 million ADA have scooped up a greater volume of Cardano. Based on on-chain measures and whale activity, the outlook for the ADA price is optimistic. Cardano whales are positive on ADA, as evidenced by an increase in activity. With the FTX exchange failure in November 2022, the Cardano network's major wallet investors have bought up significant sums of ADA currency. According to Santiment statistics, there is a surge in the volume of ADA held by sharks and whales who own between 10,000 and 10 million Cardano tokens. During November 2022, whales have purchased 659.53 million ADA tokens worth almost $235.5 million. Because huge wallet investors are major Cardano stakeholders, this turnaround is regarded positive for the Ethereum-killer altcoin. Why is it a good time to acquire ADA given Cardano's track record? Traders typically purchase a cryptocurrency when its price is low. Cardano has yet to regain the $0.41 level from February 4 due to a recent four-week market decline. Because the altcoin is selling at less than half its price in 2022, there is less risk in purchasing ADA today vs an average point in Cardano's history. Cardano is presently trading at $0.35, which is close to its weekly high of $0.36. Since February 13, the Ethereum-killer altcoin has resulted in a 1.2% loss for investors.
BINANCE:ADAUSDLong
by FOREXN1
18
Cardano at a critical pointI gave a pretty vague outlook on Cardano the other day so I figure I should probably fess up a bit and let you all know exactly how I feel about it. Right now, it looks like we're in an inverted head and shoulder pattern. It looks like it wants to explode out of here and o straight for the target which is $0.75 but not so fast. Lets discuss a few things here. First, do you actually know how to trade a head and shoulders pattern? Pattern trading can be pretty decent as long as you do it right. Ideally, we'll break out of the current pattern and do a nice solid retest of the neckline. Your stop loss should be the low of the right shoulder and your target should be 100% of the size of the head to the neckline. That puts us at right below 75 cents. To compare, ADA is trading at 40 cents now. That's a pretty good reward, but what is the risk? Currently a 13% risk. That's not insignificant. Play your cards right and you'll be okay but don't do anything dumb. Wait for a breakout and get a retest of this level we're at now (around 40 cents) and you'll be ok. Just keep that stop loss to make sure you survive another day.
Long
by bitdoctor
4
Cardano has rallied to the $0.42 resistanceAfter a good rally starting from the $0.25 support area with buying pressure, Cardano has rallied to the $0.42 resistance, and since this resistance is on a weekly time frame, reactions have been seen in this range. Several important resistance support areas are considered for Cardano, and due to the bullishness of the ADA daily trend, the resistance is more likely to be broken. The closest support to the current price is considered to be in the $0.375-$0.387 range, which has seen a good positive reaction at this level in the last two days. Cardano's trend is also bullish in the 4-hour timeframe because it has maintained this support level. This bullish trend will not turn bearish as long as it holds the support of the $0.340-$0.350 range. If favorable conditions in the market continue and break this level, the next target will be in the range of $0.50.
by MonoCoinSignal
2
Cardano - Is ADA heading to $10 or $0.10?Taking a close look here and through the duration of 2022, the white wave on the daily wavemaster has been oversold ever since about April. This is the most bullish it has looked in a year. Watching the green/yellow/red, things are still pointing up but not for much longer. Give it another 2 weeks or so and we'll get a decision. Until then, lets look at some key horizontals. Right now, we're at the resistance from January 2021 around 40 cents. That's right around where we are now. Having some discussions with others online, I adamantly pleaded with people to be a buyer below 30 cents and to buy more at 25 cents. Well, here we are. ADA has risen 56% from there and only now you're interested. This is a reason why I am being very picky with what I would like to buy. Right now, Cardano is not a net new buy but rather I'm watching for a profit take area. It's quite interesting that we've seen a great reaction off the 50% internal retracement from the March 2020 low to the August 2021 high. The target for that kind of a bounce is around $10 if we go to new highs but I am skeptical at the moment. Sure, more upside is likely, but I'd be more interested if we dropped to the golden zone instead. The perfect path would be for Cardano to go to roughly $1, then return to about $0.10-0.15 before making that move to $10.
Long
by bitdoctor
3
ADA ANALYSISlright, listen up guys because we've got some exciting action going on in the world of ADA. It looks like ADA has retested and bounced from the trendline that it broke a few days back. Now, we're expecting some movement here based on the price action we're seeing on the key support and resistance levels. But let me tell you, for ADA to make a truly bullish move, it's gotta break through those key levels. So keep your eyes peeled, friends, 'cause this one could be a real doozy!
by FortuneAI
Cardano At The Top | Short OpportunityDue to today's CPI data, the crypto & stock market reacted with some volatility. ADAUSD profited from this situation and maintained a strong upwards trend throughout the day. The price is currently in the overbought area and is already showing some signs of weakness. I took a short position one hour ago (10x) and I will keep this position for the next few hours. This should end up as a pullback instead of a trend-reverse, therefore my target is located at the previous horizontal resistance. My stop-loss is above the previous high - once we reach this level, we're likely going to see another high for today. Trade carefully. Also, feel free to check out my bio for my crypto trades. Cheers, ARESABI
Short
by Anton_XBT
1
Elliott Wave View Suggests Cardano can See Further Correction LoCycle from 12.30.2022 low ended in wave (1) at 0.414 as a 5 waves. Up from 12.30.2022, wave 1 ended at 0.281 and pullback in wave 2 ended at 0.272. The crypto-currency extends higher in wave 3 towards 0.37 and dips in wave 4 ended at 0.325. Final leg higher ended wave 5 at 0.414 which completed wave (1) in higher degree as the chart below shows. Internal subdivision of wave 5 unfolded as a 5 waves diagonal. Up from wave 4, Wave ((i)) ended at 0.387 and pullback in wave ((ii)) ended at 0.347. The crypto-currency extends higher again in wave ((iii)) towards 0.399, wave ((iv)) pullback ended at 0.367, and final leg higher wave ((v)) ended at 0.414 which completed wave 5 and (1) in higher degree. Wave (2) pullback is in progress to correct cycle from 12.30.2022 low with internal subdivision as a zigzag. Down from wave (1) peak, wave ((i)) ended at 0.393 and wave ((ii)) ended at 0.407. The crypto extends lower again in wave ((iii)) towards 0.383, wave ((iv)) ended at 0.403, and final wave ((v)) ended at 0.38 which completed wave A. Expect wave B rally to fail below 0.414 for another leg lower in wave C to complete wave (2). Near term, as far as pivot at 0.414 high stays intact, expect the crypto currency's rally to fail in 3, 7, or 11 swing for further downside.
BINANCE:ADAUSD
by Elliottwave-Forecast
2
ADAUSD Futures ( ADAUSDT ), H4 Potential for Bearish DropTitle: ADAUSD Futures ( ADAUSDT ), H4 Potential for Bearish Drop Type: Bearish Drop Resistance: 0.41297 Pivot: 0.38410 Support: 0.32956 Preferred case: Looking at the H4 chart, my overall bias for ADAUSD is bearish due to the current price crossing below the Ichimoku cloud, indicating a bearish market. If this bearish momentum continues, expect price to possibly head towards the support at 0.32956, which is the overlap support. Alternative scenario: Price may head back up to retest the resistance at 0.41297 where the recent high is located. Fundamentals: There are no major news.
AShort
by Genesiv
ADAUSD Potential for Bearish Drop | 7th February 2023Looking at the H4 chart, my overall bias for ADAUSD is bearish due to the current price crossing below the Ichimoku cloud, indicating a bearish market. Looking for a sell stop entry at 0.3820, where the recent minor low is to ride the bearish momentum. Stop loss will be at 0.4137, where the recent high is. Take profit will be at 0.3294, where the overlap support is. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
COINBASE:ADAUSDShort
by Rockqet
1
Cardano ADA/USDTesting/tracking elliot wave theory. Please do not trade off idea without S/L. Not financial advice. We have a -92% drop from the top so far that's in. We might have a possibility of another leg down making it -95% drop from the top. I highly think this will not happen unless the whole crypto market crashes. R/R ratio from today's price: 18.88 Possible upside: 1200% Possible downside: -63% R/R ratio from -95% drop 517 Possible upside: 3310% Possible downside: None, I believe this would truly be the bottom and not use a stop loss. If you're the market maker, would you want to give people the opportunity to make an extra 3000% or 1200%? Another crypto crash down across all these charts would cost the market maker more money. Crashing the market by another -50-60% and giving away 3000%+ doesn't seem like the wise play here. RSI has been at all time lows and MACD's are starting to curl up. Very unlikely we go lower to -95%.
KRAKEN:ADAUSD
by AyoKu