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Cardano

Cardano (ADA): weakness is holdingA positive market sentiment from the beginning of this year has slowed down a bit during the previous week, influenced primarily by the SEC`s moves toward the staking crypto products. A call from SEC Chair Gensler to crypto businesses is to follow regulation on all products with “lend, yield or earn” words and register them with the SEC. During the previous few weeks, ADA made progress toward the $0.40 resistance line, however, during the previous week, the coin reverted a bit to the downside and level of $0.36, where the coin is finishing the week. The RSI indicator was pushed to the down side and below the level of 50, reaching 47, which might be an indication that the market is slowly starting to look at the oversold side. Moving averages of 50 and 200 days continue to slowly converge toward each other, with still some distance between the lines, in which sense, the potential cross is still on a longer road. Moves from the previous week are just small market corrections. Current charts are still not clearly pointing that the $0.40 resistance has lost its momentum. Support line at $0.35 might be tested during the week ahead, but there is no indication on charts that this line might be breached to the downside. On the opposite side, resistance at $0.40 might easily be tested again.
COINBASE:ADAUSD
by XBTFX
Cardano (ADA) EXIT alert ! 15% profit#ADA /USD TA Update:- $ADA currently trading at $0.367 Our CTT (Coinlion Trend Trader) told us to exit ADA at $0.36 which is currently trading above the 50EMA. Cardano did not break out the descending channel as expecting. So we follow the indicator and took a 15% profit (entry at 0.29$ on Monday 09th of January) Entry : 0.29$ Exit : 0.36$ Let's see if ADA decide to break out around 0.40$, if it's the case, next possible target will be at 1.10$ with a 179% profit. What do you think ? Please click LIKE button and Appreciate my work. Coinlion Trend Trader indicator tells me when to go short or long, when to exit and when to take profit. Thank you.
BITFINEX:ADAUSD
by Coinlion_TT
2
ADAUSDTHello Dear friends happy new year :D On the daily time frame, we have the positive divergence of the RSI, which has strengthened the possibility of forming a bearish wedge pattern at the end of the bearish trend. The current trend is likely to continue up to the $0.23 range. In case of breaking the downward trend line and maintaining the support range of $0.19, we can expect the formation of an increasing trend up to the specified limits. We would be happy to hear your comments
Long
by FiboTech
2
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
✴️ Cardano | Strength (Name Your Altcoin #18 ✅)Cardano has shown amazing resilience... This pair so far produced no corrections after growing by an astonishing 72% since the 29-December-2022 low was hit, just amazing. The best we can do is to follow the market and stay strong, the next target is set at $0.4865 but mainly $0.5625 on the next jump. If a retrace suddenly shows up, we are looking at $0.3755 and $0.3395 as the main and strong support. The market continues bullish. The bulls control this chart. Namaste.
Long
by AlanSantana
4
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
ADA/EUR 06/02/2023 Trade idea 10amUTC-5Hello everyone, Im of opinion that unless we close above 0.3654xx EUR followed with confidence move above, it would be smarter to short market considering where we was at January. So I would expect next move to at least 0.342xxx cents and then reconsidered possibilities of further falling or reversing. IDEA would be invalid if we move above 0.3654xx and close there with confidence, it would be smart have Stop Loss above that price depending on your risk tolerance. My is @ 0.370500€. Best regards Joe
Short
by cryptocapitaltrading
Cardano (ADA): ready for higher grounds?Positive market sentiment for ADA continues since the start of this year. During the previous week the coin was moving within a range of $0.36 up to $0.41, still testing the $0.40 resistance line. Although the daily trading volumes have decreased, on a positive side is that the buying orders are prevailing. Although ADA made short moves during the week, RSI reached level of 67, moving closer to the overbought side of the market. Another positive development on the charts is that the MA50 line started its stronger divergence toward the MA200 counterpart, indicating on possibility for the Golden cross to occur in the coming period. There is still space between lines which needs to be crossed, but at least the moves are in a positive direction. The $0.40 support line continues to be the current major focus of ADA. The coin will start the week ahead by testing this level to the upside. In case that it is clearly breached, then the next short term stop might be around level of $0.43, on the road toward the $0.45 resistance line. On the opposite side, there is a possibility for a short reversal, where the first stop might be level of $0.37.
COINBASE:ADAUSD
by XBTFX
1
ADAGBP - Revert to Previous Level & Touch Trend LineThere seems to be plenty of charts recently with descending trend lines acting as levels of potential resistance, I guess this shows us what a cracking year 2022 was for crypto!? :) Things can only get better though, and with a But signal on Cardano as well as many others this could be a nice start to 2023. ADA looks like it may well return to previous levels where it'll meet with the aforementioned descending trend line too - bagging around 15-20% in the process. If you enjoyed or agree with this idea - drop us a comment, like & follow! :)
Long
by theCrypster
2
Which a way, ADA?If you find this info inspiring/helpful, please consider a boost and follow! Any questions or comments, please leave a comment! Also, check out the links in my signature to get to know me better! Doesn't take an Elliottician to see that ADA is a potentially tough, previous support turnt resistance. Looks like the levels have been reacting nice as well. SO, if it decides to retrace, looking to these levels...and confluence with Elliott wave, algos...all that good stuff. If it breaks above, great! Turn this level back into support! Cheers!
Short
by CryptoKnee
1
ADA: Identifying Local ResistanceHere we are looking at ADAUSD on the 4hr time frame… In trying to determine what Cardano will do next, let’s take a look at its current price levels. Since January first, Cardano has rallied with the rest of the market. In just the last 5 weeks, Cardano has rallied just under 70%! The question we must analyze in the short term is where this rally will run into significant resistance, as it has been relatively smooth sailing to this point... As seen on the chart, the parallel resistance channel seems like a strong zone to watch. Not only has ADA rallied 68% in less than five weeks, but it hadn’t really run into any significant resistance zones until now. I would expect ADA to continue bouncing between support (blue ascending line) and resistance (channel). I will continue to monitor this chart, and update you when there’s a development in its chart! Trade safely… Cheers!
BINANCE:ADAUSD
by GarethSolowayOfficial
6