Adausdlong
ADA Plummets To $1 But Colossal Recovery In The Offing
Cardano price dives to the years’ last line of defense and most formidable support at $1.
The formation of a double-bottom pattern points toward potential recovery to $1.5.
Cardano bled profusely alongside other cryptocurrencies in the market on Monday and Tuesday. The losses are likely to have come into the picture amid the bullish camp’s exhaustion. In other words, buyers feel unrewarded for the effort put into the market.
Probably crypto assets have not bottomed amid the ongoing bear run since the all-time highs trades sometime in April. Bitcoin still trades under $30,000 while Ethereum is stuck between support at $1,750 and resistance at $1,850.
Cardano is trading slightly above $1 after securing crucial support at the same level. Minor resistance is anticipated at $1.1, which could delay the recovery. Short-term technical indicators suggest that bulls are gradually gaining control.
Cardano Price Aims For Massive Recovery To $1.5
The Moving Average Convergence Divergence (MACD) adds credence to the bullish outlook on the four-hour chart. This trend-following tool may soon present a buy signal, as the 12-day exponential moving average crosses above the 26-day EMA. The odds for a strong recovery will rise as the MACD closes the gap toward the mean line (0.00).
According to the Relative Strength Index (RSI), Cardano is mainly in the bulls’ hands in the same four-hour timeframe. As the RSI follows ADA’s trend, it also calculates its strength. The rebound from the oversold region toward the midline speaks loudly of the growing bullish grip.
It is essential to realize that Cardano has formed a highly bullish technical pattern. The double-bottom pattern came into the picture when the support at $1 was tested twice but held steady. A recoil is expected to emanate from this solid buyer congestion zone and perhaps, uplift ADA toward $1.5.
Several resistance levels stand in the way of the ultimate upswing at $1.2, highlighted by the 50 Simple Moving Average (SMA) and $1.3 illustrated by the 200 SMA.
Cardano Intraday Levels
Spot rate: $1.07
Trend: Bullish bias
Volatility: Expanding
Support: $1
Resistance: $1.2 and $1.3
ADAUSD 4h SHORT Entry and Target!ADAUSD 4h SHORT Entry and Target! - Using Market Structure, Price Action and everything else into account this would be a very good scenario that might play out, I will be taking profits at our previous low since we also have a 2.618 Fibonacci Extension right below it that doesn't necessarily have to be broken but I would love to come down to the 3-1 Fibonacci Extension since we also have a Weekly there. GOOD LUCK! AND REMEMBER, THIS ISN'T A GUARANTEE BUT RATHER AN IDEA, DO YOUR OWN RESEARCH AND TECHINICAL ANALYSIS BEFORE ENTRING TRADES!
ADA break the major support zoneADA break the support zone also and retested it. If ADA is unable to break the $1.4 area and hold above it then we will see more dumps in the coming days. This is no trade zone as ADA is now facing heavy resistance. The local support zone is $1.28-$1.30 and the major support zone is $1-$1.1 area.
ADA Buy the uptrend.Cardano - Intraday - We look to Buy at 1.384 (stop at 1.341)
We look to buy dips.
Pivot support is at 1.380.
Trend line support is located at 1.380.
Previous resistance, now becomes support at 1.400.
Our profit targets will be 1.526 and 1.576
Resistance: 1.450 / 1.500 / 1.550
Support: 1.400 / 1.380 / 1.350
Cardano, ADA - a clear setup for a long position🔥We have a clear support line and a clear key level of 1,4640. Price made a trap and continue to squeeze the level. Everything looks like we will make a breakout. If it happens, I'll open a position after retest.
Write in the comments all your questions and instruments analysis of which you want to see.
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P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade
ADA analysis: Decision time for ADAADA analysis:
ADA breaks the resistance area and now retesting it. Also, ADA is respecting the uptrend line and we may see a retest of the uptrend line. The support zone for ADA is $1.35-$1.40 and we expect a bounce from here. If ADA breaks below the uptrend line we see more dump in the coming days. There is a heavy resistance area of $1.6-$1.65 and $1.8-$1.86. If you want to open a long position then place your orders near the support zone and use a tight stop loss.
ADA CARDANO - Time to Go HIGHER maybe? (and hopefully!)Been waiting for Cardano to rise but Cardano is always like this: testing our poatience and then rises in due time.
Let's hope that Bitcoin manages to help us lift Cardano higher.
After all, ADA has proven to be the right choice since it fails to drop more than the others and to em it's the best option at this stage.
Hope it goes up,
the FXPROFESSOR
PS. RIGHT NOW I AM HEDGED: Short on BTC and LONG on ADA
ADA Buy a break setup.Cardano - Intraday - We look to Buy a break of 1.414 (stop at 1.351)
Daily signals are mildly bullish.
Pivot resistance is at 1.400.
A break of bespoke resistance at 1.400, and the move higher is already underway.
Broken out of the triangle formation to the upside.
We look for gains to be extended today.
Our profit targets will be 1.585 and 1.635
Resistance: 1.400 / 1.460 / 1.600
Support: 1.350 / 1.300 / 1.250
ADAUSDT(1H CHART) Head and Shoulder PatternADAUSDT(1H CHART) Technical Analysis Update
ADAUSDT(1H CHART) currently trading at $1.346
Buy-level: Above $1.352
Stop loss: Below $1.234
Target 1: $1.395
Target 2: $1.456
Target 3: $1.585
Max Leverage: 3X
ALWAYS KEEP STOP LOSS...
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ADA at heavy resistance areaADA is now at the heavy resistance area and also at the downtrend line. This is no trade zone for ADA, wait for a clear breakout and retest or for rejection. The support, for now, is around $1.7-$1.2 area and the heavy demand zone is near $1. This is not a good time to enter in ADA.
CARDANO/ADA ViewOn the weekly ADA can be seen to be briefly touching the 2.618 fib, a level it has overcome but has dipped back down to retest
On the Monthly a Bullflag can be distinguished from the low volatility in the past weeks, which is also a good sign for the bulls
Personal bias is neutral on ADA, but this does look very bullish
Above is a chart showing the tight trading range that has been established in the past weeks
ADA.....4h###Update to previous analysis.
### China has dealt a very strong blow to Bitcoin and cryptocurrency, resulting in huge losses for the crypto business. Bitcoin was able to withstand and compensate for some losses.
This led Cardano to achieve the selling objective in the previous analysis.
I expect that China has now exhausted the strength of its attack on Bitcoin and others, and that it is time to compensate for the losses
# Analysis on the 4-hour chart.
# Analysis is based on trends and Wyckoff's strategy.
# It is below a red downtrend.
# At the end of the Wyckoff compilation phase (in blue), to the top.
---------
# strong probability:
*** It crossed the red downtrend to 1.8395.
*** Exceeding 1.8395 goes to 2.3733.
ADAUSD......4h# Analysis on the 4h chart.
# Analysis is based on trends and Wyckoff's strategy.
# It is below a red downtrend.
# At the end of the Wyckoff assembly phase (blue), upwards.
---------
# Very low probability:
**** Breaking 1.26747, a drop to the uptrend (dark blue).
# strong probability:
***Passing the red falling trend goes to 1.8395.
*** Exceeding 1.8395 goes to 2.3733.
ADA Tight Trading Range, Breakout ??On the USD pair ADA can be seen to be moving in a very tight range, I notice this a lot prior to massive breakouts upwards, which is very possible in this case
Just touching the 100MA
On the BTC pair another retest of the 50MA is in progress, each time this has occurred a bullish rejection was the result, likely another rejection upwards
I do not hold ADA but this looks great