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Cardano

Cardano: reaching overbought side?There has been major progress for ADA during the previous week. Positive news from Cardano`s EVM company Milkomeda over network upgrade is finally strongly reflecting in the price of ADA. Although the coin started the previous week by testing $0.4 resistance, the coin managed to break this level and reached its highest weekly value at $0.46 last time the coin was at this level in February this year. Major development occurred with the RSI indicator during the previous week, which reached the clear overbought side of the market. This indicates the potential for a short term turning point for ADA, which could enter into short term reversal in the coming period. Moving average of 50 days continues its modest divergence from MA200 counterpart, and weakly supporting the Golden cross. It could be expected that the price of ADA will continue to be supported by the news from Milkomeda. In this sense, ADA will start the week ahead by continuing to test its current $0.45 resistance line. There is a low probability that the next resistance line at $0.5 might be reached during the week ahead. On the opposite side, due to potential for short reversal since the RSI reached a clear overbought side, ADA might turn to test the $0.40 support line for one more time.
COINBASE:ADAUSD
by XBTFX
✴️ Cardano | RSI Long-Term Signal ExplainedI am going with Cardano again because I have a very interesting signal to show you. This signal is based on the Relative Strength Index (RSI) and goes as follows... Let's start with the chart. So much to look at in a single chart. ✔️ 1) We have a long-term higher low; Dec. 2022 vs Dec. 2018. ✔️ 2) The cup (yellow) pattern indicates a bottom formation. By bottom we mean that it can't go any lower. ✔️ 3) The middle line in blue is 50. RSI above 50 weekly is super-strong, the bullish zone. Currently the RSI sits at 57.81. ✔️ 4) Straight up. The RSI line is literally a straight up line, pointing up with growing momentum. ✔️ 5) There is plenty of room left for additional growth. You can read yesterday's trade idea for the short-term. We have a 200 day high, the higher low, volume, etc. ✴️ Cardano New 200 Days High Thank you for reading. Remember to boost, comment and follow. Your support is truly welcome and appreciated. Namaste.
Long
by MasterAnanda
5
Cardano / ADAUSD - Outlook Long term Bullish, Short term BearishHi guys. Welcome to my TA analysis on Cardano. Compared to some cryptos im liking how the charts have been for ADA. Just FYI this is purely Technical Analysis, i do not dive into FA at all and base my trading discussions strictly on TA. That being said, i do use FA to determine which projects are likely to have strong company dynamics and actual use case when trading cryptos as ive been burned heavy before. I will also be looking to chart more cryptos moving forward as i believe we are at the beginning stages of the crypto bull market. Make sure to tune in for more info on that in my future analysis. Lets dive in: First lets look at PRICE ACTION: Look at the numbered trend lines i have drawn. #1 line = Is this major resistance downtrend or "bear market" resistance line that formed from ADA HKEX:3 top back in August 2021. \ We have BROKEN OUT and tested it as SUPPORT along with covergence of support forming line #2 this intermediate support trend from Jan 2023. THIS IS GREAT TO SEE as this means we have have broken the downtrend we were in since 08-2021. Now does this mean the bottom has formed? Its possible, YES at $0.23 but do notice we can still technically test line #1 and go below $0.23 cents or near it at the least for double bottom even. But that depends on ADA BTC pair relation and how the bull move shapes up in terms of BTC dominance. #2 line - this is an intermediate support line formed from Jan this year. If we cant stay above line #4 , the red resistance line we can test it at any point as support, im in the camp that maybe thewhite circled area where the 200 Day moving average intersects line #2 is a potential area to look at. line 2 along with orange arrow forms a upward channel. Notice here how Orange arrow is acting as resistance and todays candle is looking bearish with upper wick. #3 line - This line is a short term support line where in the coming days we can test, especially if the price action is pushed down by orange arrow. #4 line - This line was major support back in May 2022, then acted as major resistance recently in Feb. We have to now see how price action acts as we come down to test it. We want to STAY ABOVE. In the short term i believe we will DEFINITELY test where Lines #3 & 4 MEET. If we can stay above, act as support and bounce up. solid area to Buy in. But remember this could be a temporary fake out to the upside, meaning we are bound to come down. I would need solid confirmation that we stay above these 2 lines. BUT a major area i would look to enter more positions will be the 200 DMA and line #2. That seems like it would be major support. INDICATORS: 1. Purple line is the 200 day moving average (dma). Notice how we are above the 200 DMA this is also a great sign as long as we stay above it. The thing to pay attention is how and if/when we react again with this in the near future. We need it to be SUPPORT. I would like it also to start curving upwards, which it may do as we are starting to flatten out. 2. RSI - Important to note we maybe forming a lower high. But price action formed a higher high. This is bearish divergence. Which could push price down, causing price action to interact with drawn lines. Todays close is important, as we created a peak and are pointed down. 3. ADX and DI - Also shaping up to be bearish divergence. Where bullish momentum is decreasing but price action seems to form higher high recently. Notice the white circled area, the green line is pointing down, showing a decline in bullish momentum BEARISH DIVERGENCE is when price action is moving up forming higher high shown by the ORANGE arrow but indicators are pointing down forming lower highs also shown by arrow. Price tends to move down over time. CONCLUSION: I think overall ADA seems more bullish than other ALTS but remember that doesnt mean we can't see lower prices than 0.23 cents and still be in a bull market especially if BTC dominance is strong. It is therefore important to gauge at BTC dominance and BTCADA pairings when going for longer term trades. There are loads of positives for ADA, like breaking the major resistance that was formed during downtrend from HKEX:3 and testing it as support. There are also alot of support if ADA does move down which just means more buying opportunity especially since i believe we are in the makings of the new bull run. A MAJOR WARNING however and something to watch carefully is the BEARISH DIVERGENCE and if and when it plays out. That could mean short term price drops. Look to the support lines drawn and the 200 DMA. But overall i believe Cardano is starting its bullish run and am long ADA until proven otherwise. Hope this helped. If you likes what i put out, Please boost, follow and comment. Let me know if you agree or disagree. Stay tuned for updates and more charts on crypto and other assets as well. Look below for related charts especially chart on BTC and recent analysis on another ALT> DISCLAIMER: This is by no means financial advice. I am not a fiancial advisor. The info expressed here are only my opinion and for educational purposes. When trading please maintain your risk management and protect yourselves with stop loss.
BITFINEX:ADAUSDLong
by SafofAllTrades
2
A lot of money needed for this to move though 😊Here we have 2 possible scenarios! I see Cardano trying to break out from the triangle pattern however it needs to be a big breakout and we don't see that yet except for 15min TF. Still not enough of a confirmation, breakout then re-test of trendline before kicking off. I think it would go up that much but good enough for a small scalp trade in the lower timeframes. A lot of money is needed for Cardano to move strongly and it's been going down consistently for a long time so I advise manage risk properly. We could potentially see a down move as well if it fails to breakout any higher and that would mean a continuation of the juggernaut downtrend we've always been into lol... which makes sense being an overall bear market.
A
by KinaStar
5
✴️ Cardano New 200 Days HighYesterday ADAUSDT hit its highest price in 200 days as it launched a new open source tool to develop smart contracts on Cardano, Aiken. The chart continues to look pretty good... What one does, the rest follows! Cardano hit bottom late Dec. 2022 and started the year with a bang, same as the rest of the Altcoins market. After peaking in February a strong correction took place which is normal after a period of sustained growth. This correction ended mid March, the 10th of March to be exact, in a higher low. Now we are witnessing the resumption of the bullish trend. This is something we have been tracking/expecting and it is likely that additional growth will follow in the coming days. Namaste.
Long
by MasterAnanda
2
ADAUSD cardano big Pump?hello everyone... alot of whales are jumping in the cardano lately... and recently the price has broken through main resistance level will it pull back? at this point chances are very slim since its heating up with investors.. as long bitcoin remains bullish to reach its highest at 32k.. most likely cardano will each it's highest at 0.60 in 4hr timeframe support are 0.44 and 0.42 it can likely test back to.. this is an update to my previous analysis... good luck to all investor...
KRAKEN:ADAUSDLong
by baigxy
Trading Idea on ADA/USDBINANCE:ADAUSD Based on the technical analysis of Cardano (ADA/USD) on the daily timeframe, a potential cryptocurrency trading idea could be to buy ADA/USD at the current price of 0.450, with a stop-loss order set at 0.400 and a target price of 0.600. The rationale behind this trade idea is based on the recent bullish trend of ADA/USD, which has been trading above its 50-day and 200-day moving averages. This indicates a potential upward momentum in the price of ADA/USD, which could be a profitable opportunity for traders. Furthermore, Cardano has been making significant progress in terms of development and adoption, which could further increase the demand for ADA in the long run. This is evidenced by the recent partnerships and collaborations announced by Cardano, as well as the growing number of users and developers joining the Cardano ecosystem. However, as with any investment, there is no guarantee of future returns, and investors should always conduct their own research and seek professional advice before making any trading decisions. It is important to monitor the price movement closely and adjust the stop-loss order accordingly to manage risk effectively.
BINANCE:ADAUSDLong
by InKryptLabs
✳️ Double Bullish Divergence & Volume Confirms Reversal | ADABTCCardano bottomed 20-March vs Bitcoin and this can be confirmed through multiple chart signals. Feel free to boost and let's dive in. First, we have a double bullish divergence, classic, plain and simple. We can see Cardano (ADABTC) printing a long-term lower low between March 2023 and May 2022. The MACD on the other hand printed a long-term higher low in this same time window: The RSI's bullish divergence is younger but still valid and strong, March 2023 vs Dec. 2022: The signal is still valid and good. Next, for a low/support confirmation is the volume signal. We have high volume May 2022, just check the volume line/bar on this date on the chart. March 2023 as a new 10 months low is hit, no volume/low volume. A new low with no volume signals that this move is either weak, already over or just the market looking for liquidity rather than a trend continuation move. With all this said, there can still be more correction but this is a low probability scenario. A new low can be hit with the same conditions described now because it is still early on the bounce and no volume on the way up. Now, looking at the other Altcoins, such as XRPBTC and SXPBTC, we see the reversal is already taking place. Thank you for your continued support. Namaste.
Long
by MasterAnanda
1