Cardanousd
ADA breaking out the key level resistanceHey friends, hope you are well and welcome to the new update Cardano coin.
Breaking out key level resistance:
During the powerful bullish rally on the long-term first the price action broke out the $0.15 resistance and after re-testing this resistance as a support move to the next resistance $0.385. This is the key level resistance for ADA coin because this resistance is not broken out since 2018. If this resistance will be broken out then the price action of ADA can reach at $1.4 very easily.
The EMAs and Ichimoku cloud:
On the weekly chart, the price action of ADA coin has is moving above the exponential moving averages 10 and 21 and using these EMAs as good support.
On the weekly chart, the price action of ADA with Bitcoin pair is breaking out the Ichimoku cloud. Once this cloud will be broken out then the Cardano can turn more bullish.
Conclusion:
This can be a historical moment for ADA, because on one side in the US Dollar market it is breaking out the key level resistance and in Bitcoin marked it is breaking out the Ichimoku cloud strong resistance.
ADAUSD this is just a beginning towards previous highEMAs on the monthly chart.
Even though the price action of Cardano has rallied more than 1800%, but if we switch to the monthly chart, then it can be observed that the priceline has just broken out the resistance of EMA 10 and 21.
EMAs on the weekly chart:
On weekly chart, the price action broke down the EMAs 10 and 21 but again it has moved above these exponential moving averages.
SMAs on the weekly chart:
On the weekly chart, the price action of ADA has broken out the 50 and 100 simple moving averages and now breaking out the 25 SMA resistance level.
Ichimoku cloud:
Now if we turn to the ADA with the Bitcoin market, then the price action of Cardano is likely to break out the Ichimoku cloud resistance on the long-term weekly chart.
Conclusion :
The priceline has rallied more than 1800% so far, but this is just a beginning and the ADA can cross up the previous highest price ever very easily.
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ADA Buy a break setup.Cardano - Intraday - We look to Buy a break of 0.3184 (stop at 0.3084)
Daily signals are bullish.
We look for gains to be extended today.
Price action has formed a bullish ascending triangle formation.
Our outlook is bullish.
We can see no technical reason for a change of trend.
Our profit targets will be 0.3512 and 0.3718
Resistance: 0.3200 / 0.3400 / 0.3553
Support: 0.3000 / 0.2900 / 0.2800
$ADAUSD - Descending channel, triangle and LagardeHi guys! 👋🏻
🔔 Cardano is one of the coins to watch as there are signs of a bullish continuation. As seen on a 4H chart ADA/USD has established a descending channel and is proceeding within its support and resistance levels. As seen on the chart the current setup, support from EMA50 and MACD demonstrate a bullish run up to a resistance near $0.322270.
🔔 However to do so, Cardano has to overtake another short-term dynamic resistance.
🔔 The bet on an uptrend could be higher as Cardano cleared off the upper edge of a triangle on the same chart.
🔔 The alternative to the uptrend scenario is, if Cardano does not close above the dynamic resistance, it will drop to test $0.261400 support which is a Fibo 0.618 level of the last impulse and to $0.244000 below that.
🔔 The week is full of economic data announcements, so get prepared for a roller-coaster.
The CPI and Core CPI data didn't effect the market much, waiting for the FED members speech.
Tomorrow, January 14 - Initial Jobless Claims and FED Chairman Mr. Powell speech.
Friday, January 14 - Core Retail Sales, Retail Sales and PPI.
🔔 Almost all of the forecasts for each economic data announcement signal the recovery of the US Dollar, although the unrest in the market due to the Impeachment and possible riots remain.
BONUS: ECB President - Christine Lagarde said today that the digital currency had been used for money laundering activities in some instances and that any loopholes needed to be closed. Not very optimistic.
✊🏻 Good luck with your trades! ✊🏻
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ADA long term playI threw the tea leaves, I drew some lines and a cup.
Lets see how this one plays out over the longer term. Its just for fun really. IMO ADA bags are for long term HODL.
I've roughly modeled it on other past moves from big caps as they matured.
If you look at the dominance graph with ADA and ETH. It looks like ADA has just completed its first 'shelf'.
coinmarketcap.com
Just turn on ADA and ETH. Set to overlapping.
ETH completed two of these shelves before going for its home run hit. I expect ADA to do the same over time.
Interestingly March 2021 seems to be an important line up date on a lot of other graphs I am seeing. I am expecting some fireworks around then, and some maybe difficult decisions.
Might see a correction to the mean for ADA/USDAfter all the long-awaited green days for most of the alts it might be time for a short correction towards the yellow dotted 20 MA of the bollingerbands or at least the upper white. The situation on the indicators in the 12 and 24-hour chart of today looks very similar to the situation on November 24, 2020. However, in full bullish mode, the market is in right now it could also be possible the correction remains to the upper white of the bollingerbands and move sideways for a while. Either way, don't be greedy when you do decide to short in current market conditions.
The Long Game with Cardano I don't really post much anymore as I am not actively trading. For this bull cycle I plan on just buying as much as I can now and riding it out for the next year.
Cardano is a long time favorite and I've been accumulating this one for a while. In July, Coinbase announced that Coinbase Custody would support Cardano staking. Around March 2021 Cardano plans on releasing Goguen which enables Smart Contracts and DApps to be made with the addition of expanding decentralization capabilities. Upon a successful release I expect Coinbase to announce that regular users will be able to buy and stake Cardano. At that point, I expect a retest of the previous high, $1.40, some time after. (Not saying ADA will get there but Tezos is a popular staking token on Coinbase and peaked at $4.44 back in August)
That, coupled with Bitcoin just getting started on this next cycle, is why I'm posting this today. If you want to make one buy and hold trade then Cardano is poised to perform well. You can also start staking as well and earn rewards.
Price Target: $1 by September
References
www.coindesk.com
roadmap.cardano.org
ADAUSDT breakout and re-test setup shaping up nicely..Simple but effective (especially when it works :))
Now we wait for a follow through. Still needs to close today on a bullish note (else we may see more sideways movement in the near-term).
If this continues higher, my target is that 0.36 area but watching out how market reacts to 0.23 level.