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Will Cardano Break The Last Support?A recap: In Aug 2019 I posted an article where I revealed that the priceline of Cardano was forming a shark pattern. RSI had still some space to move in oversold zone and moving average convergence divergence ( MACD ) was still strong bearish , therefore there was more possibility that the price action will definitely complete the final leg of Shark which was being formed at that time below was the article: Finally in December 2019 the Cardano took the bullish divergence and after producing more than 46% bullish rally the priceline of ADA retraced back again. It was expected that if the price action will cross up the 0.786 Fibonacci projection of C to D leg of this bullish Shark then it will be turned more bullish. But unfortunately the price action went closer to 0.618 Fibonacci projection level and from this level the seller took over the charge and brought the priceline down again. Hitting at last support: In previous week we have witnessed a strong bearish rally that brought the price action down upto the last support at $0.027002. And the price action has hit a spike up to $0.018540. That is the new lowest price ever in the history of Cardano with US dollar pair as per Kraken exchange. Harmonic move a sign of hope: Now there is a strong hope appeared that on this last support the price action of ADA has completed formation of bullish pattern. It can be easily seen that a a bullish Crab has been formed. The initial leg of this pattern was started with the candle stick that was opened on 17 December 2019 and has been completed on 12 Feb 2020. After that the price action has been retraced back between 0.382 to 0.618 Fibonacci level. And then the price line projected between 0.382 to 0.886 Fibonacci projection of A to B leg. Now from here the price action was suppose to be retraced between 1.27 to 1.618 Fibonacci level and this recent sell off has helped the priceline to move more down to complete the final leg. So far we can see the price line of ADA has only hit the spike in potential reversal zone area but soon we can expect that the price action will again move down to enter in this zone. The range of potential reversal zone and Fibonacci projection area or buying and sell targets can be as follow: Buy between: $0.019129 to $0.004567 Sell between: $0.030263 to $0.057737 As you can see this potential reversal zone of 318% area therefore if for example the priceline hits the lowest pricelevel of this PRZ level and hits the highest Fibonacci projection or sell zone then it can be a 1164% really very massive move. This can be the same volatility as the NPXS normally shows. However In my opinion it is not possible that ADA would move as that much down therefore we should find the buying at the starting of potential reversal zone. This is the 1st positive sign I have found sofar if there will be more developments then I will definitely share with you.
KRAKEN:ADAUSDLong
by moon333
ADAUSDT Short-term Trading PlanADAUSDT seems formed 2 simple A-B-C correction moves after the dump, all nailed the 1 to 1 fib-extension level at point C from point A. Then wave 2 retraced 50% from wave 1, and wave 3 has a clear small 5 waves inside, now ADAUSDT seems like working on its 5th wave. After taking a fib-extension from point 3 to point 4, there are a couple of levels to watch: 0.618-0.65, 0.786, and 1. We are currently between 0.5 and 0.618, RSI and MACD seem overbought already, however, it still may not be a good time to short yet. Firstly, there were situations that RSI and MACD were even higher than the current levels at 8 hours and 4 hours; secondly, BTC and SP500 are still green, and the price rise of both will very likely to push ADA higher; and also, we do have previously resistance pivots that were formed in May 2019 at 0.618-0.65 levels, and we have the high in June 2019 almost exactly at 1 to 1 level. In conclusion, I do think ADAUSDT is about reaching its top and we are likely see a dump soon, however, the current situation is still uncertain as explained above. If BTC and SP500 get dumped within a couple of days, then maybe the current price or 0.5 level is the top of ADA; but if BTC and SP500 are still green then ADAUSDT is likely to get pushed to 0.618-0.65 level or 0.786 level, and I do expect a dump at those levels with other indicators and the general market as confirmation; As of 1 to 1 level or higher, I believe the possibility is pretty low since ADAUSDT doesn't really have previous resistance pivots at those levels, all the previous pivots that formed higher than 1 to 1 level were all happened during a bearish trend when the coin was getting dumped, and many indicators are already overbought level, thus, a push of price to higher than 0.117 is unlikely as for now. So, look for RSI, MACD and other indicators for confirmation, and also keep an eye on the market, a drop of ADAUSDT can happen soon. Thank you guys.
Short
by BoilderRoomColdCaller
4
ADA Has Surged More Than 200% But Still Going Better Than BTCHi guys and gals hope you're doing good. Cardano is the coin that is going for better than the Bitcoin in other top altcoins. Today we will try to understand the movement of the price action of ADA coin what it can do next. The difference between Cardano’s move and other cryptocurrencies: As in the below chart it can be easily observed that the ADA and Bitcoin both have formed up channels on daily charts after the mid of March 2020. And there were many more other cryptocurrencies that have formed same as like this up channel following the movement of the Bitcoin. But the difference between the Cardano and all other cryptocurrencies is that ADA has broken out the resistance of this channel on the 30th of May but on the other side the Bitcoin and many other top altcoins have broken down the support of the channel. I have also placed the simple moving averages with the time period of 25, 50, 100 and 200. And when the Cardano broke out the resistance of the channel then there was a big distance between the price action and all the simple moving averages. So there were two possibilities whether the price action starts a correction rally to the downside up to the nearest available moving average to have some support over the moving averages or the moving averages move up to provide the support to the price action. And finally the moving averages moved up to provide the support the price action and that is really very positive move. At this time the price action is at the support of 25 simple moving average and 50 simple moving average is also moving up. And if we watch the 100 and 200 simple moving averages then recently the 100 simple moving average has crossed up the 200 moving averages. After this cross a complete opened alligator mouth is formed by the simple moving averages. As now we have the smallest time period moving average above all other moving averages and the biggest time period moving average is below all the moving averages. On the other side on BTC chart we have the smallest moving average above all other MAs but the biggest time period moving average so far is not below all the moving averages therefore the ADA coin has potential to move against the market its mean that if the Bitcoin will be moving down then it is possible that Cardano will maintain its position. The exponential moving averages and their synchronized movement with indicators: If you watch the exponential moving averages with time period of 10 and 21 then it can be easily observed that since the priceline of ADA has crossed up these two exponential moving averages then it is using them as good support. I have also observed the movement of the price action above these two EMAs is very much synchronized with stochastic and MACD indicators. Because whenever the price action touches the exponential moving averages and stochastic gives the bull cross and MACD also turns bullish then the price action starts next bullish rally until it re-tests the exponential moving averages again. This time when the price action again touched the EMAS then stochastic gave bull cross and MACD also truned weak bearish from strong bearish that is also a bullish signal. Then ADA tried to start the next rally. But again the stochastic has given bear cross and the MACD also turned strong bearish in the price action again moved at the support of these to EMAs. Now the MACD is again turning bullish. If the price action will be still on these EMAs and stochastic will again give the bull cross then it is possible that the price action of Cardano will start the next bullish rally. Different support and resistance level and re-testing of resistance as support: Now if we switch to the two day chart then on this chart the different support and resistance levels can be seen very clear. In the month of March 2020 the price action bounced from the last support of $0.027 and crossed up the next resistance of $0.045. The price action retested the previous resistance as support and crossed up the $0.065 resistance level and after breaking out the next resistance level the price action has broken out the $0.08 resistance level as well. At this time the price action is retesting $0.08 resistance as a support. If this retest will be successful then the priceline of ADA can move up to the next resistance level that is at 10 cents. Otherwise it can move back to the previous resistance level of $0.065 to re-test it as a support. Now the next move of the Cardano whether to the upside and downside depends on this retesting of previous resistance level as support. Conclusion: So far the price action of Cardano is more bullish than Bitcoin and other top cryptocurrencies. Therefore we can expect that ADA can be a safe heaven at the time when the Bitcoin will start correction rally. However we can set a stop loss at next support level that is $0.065 to minimize the risk of investment. Note: This idea is education purpose only and not intended to be investment advice, please seek a duly licensed professional and do you own research before any investment.
KRAKEN:ADAUSDLong
by moon333
2
Cardano (ADA) Is Gonna Start Chain Reaction SoonHi folks, hope you are doing good, today I am gonna show you a really very interesting move made by Cardano’s price action. It has formed a series of bullish pattens and formed patterns within other patterns. Therefore this article can be really very interesting for the people who are trading for holding ADA. Recap: First of all I would like to take you to my old article that I published on 19th August 2019 and on this chart I revealed that Cardano has formed a bullish harmonic Shark pattern. This pattern was started from Feb 2019 and completed on August 2019. And as per Fibonacci sequence of bullish Shark it was expected that the price action will enter in the Fibonacci projection of C to D leg from 0.382 to 0.786 Fibonacci projection level. If the price action would cross up the 0.786 Fibonacci projection level then it would turn more bullish but unfortunately after visiting the Fibonacci projection area or sell zone the priceline dropped at the support. Dropped on strong support: At this time we have a strong suppor at $0.027 and we can see so far it is proven very strong support as on 13th March 2020 on daily chart a really very strong and long bearish candlestick tried to break down this support but even after hitting far more beyond this support the candlesticks retraced back above the support zone. It can be expected that the priceline would move at this support level sideways for some more time. Bullish Crab pattern on 2 day chart: Now let's come to the point that I want to share with you and that is ADA has formed harmonic patterns within other harmonic pattern let's take a look at 2 day chart. Here on 2 day chart the price line has formed a bullish crab pattern let's have a look how perfect this pattern is formed after initial leg the A to B leg is retraced between 0.382 to 0.618 Fibonacci level and B to C leg is projected between 0.382 to 0.886 Fibonacci projection of A to B leg. After that the last leg is retraced between 1.27 upto 1.618 Fibonacci level. Even though the price action has hit the potential reversal zone and retraced back and has hit the Fibonacci projection area of A to B leg from 0.382 to 0.786 Fibonacci projection but I am expecting that it will be turned more bullish soon and it can even cross up 0.7886 Fibonacci projection level because we have more bullish patterns on log term charts. www.tradingview.com Bullish Butterfly pattern on weekly chart: Now let's move to the weekly chart where the price action of ADA has formed bullish butterfly pattern. Let's have a look how perfect this pattern is formed. The initial leg was started in December 2019 and completed on Feb 2020. Then A to B leg has been retraced between 0.618 to 0.786 Fibonacci level that is the first confirmation of bullish butterfly pattern. Then B to C leg is moved up between 0.382 to 0.886 Fibonacci projection area of A to B leg and here we have received the second confirmation of bullish Butterfly. Now we can see the recent strong bearish rally has helped the price action to complete the final leg off this pattern and C to D leg is retraced between 1.27 upto 1.618 Fibonacci level. Even though we can see that the price action has hit beyond the potential reversal zone of this pattern but in very next candle the priceline is pulled back and has hit the 0.382 to 0.786 Fibonacci projection of A to D leg. But we can expect that soon the priceline will again turn bullish and we will see some green candlesticks on this weekly chart. Very bit bullish Butterly on monthly chart: Now let's move to the more bigger time period chart and that is one month chart. On this long term chart price action of ADA has formed another harmonic Butterfly pattern. The first leg of this butterfly was started on November 2018 and completed on June 2019. Then we can see that the price action has been retraced between 0.618 0.786 Fibonacci level and from November 2019 to Feb 2020 the price action moved up between 0.382 to0.886 Fib projection of A to B leg. Then again the price action dropped between 1.27 upto 1.618 Fibonacci retracement level and here we have a complete bullish Butterfly. A chain reaction to achieve highest price: Now we have a series of harmonic patterns. The first one is on 2 day time period. The second one is on weekly time period. And third one is on monthly time period chart. The short time period 2 days pattern can provide the push to the pattern that is formed on weekly chart and the weekly chart parent can provide the strong push to the pattern that has been formed on monthly chart. This move of Cardano will be like a chain reaction. And this chain reaction can produce a very powerful bullish divergence even we can see that the ADA can achieve the highest price ever in the history of Cardano.
BITTREX:ADAUSDLong
by moon333
1
Don't miss the great buy opportunity in ADAUSDTTrading suggestion: . There is a possibility of temporary retracement to suggested support line (0.0785). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . ADAUSDT is in a range bound and the beginning of uptrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 59. Take Profits: TP1= @ 0.0904 TP2= @ 0.1011 TP3= @ 0.1135 TP4= @ 0.1555 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity
28
BUY after the price breaks out from plotted resistance level.This is 4h chart of CARDANO (ADA) and i have plotted a trend line along with a resistance level. Price had went very bearish. This has made 5th consistent high which is less that the earlier high. Price will try to break out. If the price goes above $0.08 WITH VOLUME, then price may go Bullish, otherwise if the prices tests this level and goes down then the price will go very Bearish. Remember one thing, always buy or sell after the price breaks out the support or resistance level. Wait for the price action, act accordingly.
KRAKEN:ADAUSDShort
by Cryptocians
Cardano (ADA): Analysis using Ichimoku 13/06/2020H4 The price is trading below the Ichimoku cloud, indicating a possible end to the upward movement of correlation. RSI has reached oversold levels. Also, between the price and the RSI, convergence was formed. Fibonacci level of 61.8% was tested. Conclusion: We recommend buying at the current price, as many indicators indicate completion of correction on H4. H1 The price is trading in the Ichimoku cloud and above the Fibonacci level of 23.6%. RSI is in an undefined state. Conclusion: We recommend buying when the RSI reaches the oversold level, as well as from the Fibonacci level of 38.2%. Good luck!
Long
by QubitLife
ADAUSD: Analysis using Ichimoku 10/06/2020H4 A steady uptrend is visually clearly visible. The price is in the Ichimoku cloud, indicating a local correction. RSI is near the oversold level. Conclusion: We recommend buying when the RSI reaches the oversold level, as well as at the Fibonacci level of 61.8% H1 The price is below the Ichimoku cloud, forming new lows for local correction of the H4 timeframe. The RSI is near the oversold level, indicating a near end to the downward movement. Conclusion: We have identified local correction for H4 and recommend buying when the RSI oversold level is reached, as well as from key Fibonacci levels of 38.2% and 23.6%. Good luck!
Long
by QubitLife
2
Cardano: Analysis using Ichimoku 05/06/2020Hey to all! H4 Cardano price is trading above the Ichimoku cloud, indicating an uptrend and the possibility of buying from the cloud. RSI is clearly overbought, and divergence is formed between the price and the oscillator. Conclusion: It is worth considering purchases in the Ichimoku cloud from key support levels of Fibonacci (50% - 61.8%). H1 The price broke through the rising channel and began to decline. RSI at oversold level. Conclusion: We advise you to wait until the price is fixed below the Ichimoku cloud and returns at the overbought level of RSI. Good luck!
Long
by QubitLife
6
Cardano Is Pumped More Than Other Top CryptocurrenciesHi friends hope you are doing well and welcome to the new update on Cardano. In today's article we will try to understand why the ADA has surged more than other top cryptocurrencies. And in order to understand this we will try to watch the different chart patterns, moving averages, oscillator and different indicator is well. Harmonic moves gave advance bullish signals for this surge: Now before moving to analysis. I would like to show you to harmonic patterns that were formed during the strong bearish trend of March 2020. And while moving down the Cardano formed a harmonic Crab pattern on two day chart and in the meanwhile the price action also formed a very big bullish Butterfly pattern on the monthly chart as well. Therefore as per Fibonacci sequence I predicted that the price action will take bullish divergence from the potential reversal zone of Crab and along with that it will also start a bullish rally from the potential reversal zone of bullish Butterfly pattern on monthly chart. And the this move would be like a chain reaction. And we have witnessed that finally the priceline of ADA started a bullish move after the mid of March. And sofa it has produced more than 300% rally. Bullish Crab: Bullish Butterfly: The SMAs: In order to observe the power of bullish or bearish trend it is very important to watch moving averages. Therefore I always watch the position of the moving averages. Now on daily chart if we watch the position of the simple moving averages with time period of 25 50 100 and 200 then it is very strong bullish. There is only one move is due and that is the 100 simple moving average should form a bull cross with 200 SMA. And then a complete opened alligator mouth will be formed that can lead the price action to turn more bullish. But there is also a critical point and that is the price action has turned so much bullish and it went very far above the moving averages. And there is a big distance between the moving averages and the price action. Therefore if the priceline will start a correction rally then it can move down up to the first available nearest moving average and at this time it is 25 SMA. Therefore that will be a drastic drop however if the moving averages will be moved up and remove this distance then the price action will have strong support of the SMAs just below the tail of the candlesticks. Up channel has been broken exceptionally and EMAs are strong bullish: On the same daily chart the Cardano has formed an up channel like every top cryptocurrency. But exceptionally the ADA turned very strong bullish and it has broken out the resistance of the channel. On the other side if we watch the Bitcoin and all other cryptocurrencies then those are still moving within the channel. For example at this time the Bitcoin is near support of that channel. And if we watch the exponential moving averages 10 and 21 then again Cardano went very far from the support of exponential moving averages and on the other side the Bitcoin is using the exponential moving averages EMA 10 and 21 as support. Support and resistance levels: During the previous strong drop the priceline of ADA has re-tested the support of $0.027. Then it moved up and crossed the $0.45 resistance. And after crossing up this resistance the price action re-tested it as a support and then Cardano turned very strong bullish and crossed up $0.065resistance level. This time the priceline was very strong bullish as it did not re-tested the previous resistance of $0.065 as a support. However there is still possibility that price action will start correction rally and re-test the previous resistance as support before next bullish rally. Now the next resistance level for Cardano is $0.10. Amd this level in very strong key level resistance as it is not broken out since April 2019 even after several attempts by the ADA. Therefore the next bullish move is very important for Cardano. If this $0.10 resistance level will be broken out then the price action can start stronger than the previous bullish rally to achieve the higher than previous highest price ever in the history of ADA. Conclusion: In the month of Jun 2020 The ADA can behave different as compare to other cryptocurrencies including Bitcoin. And it can show more powerful bullish moves in coming days. However we should be careful about the stop loss because the price action went very far and away from the support of the moving averages. Therefore if price action will move down to retest the support of any moving average then the drop can be severe.
KRAKEN:ADAUSDLong
by moon333
2
ADAUSD - Which side are you on?--- Please if you find this informative and/or agree with the idea don't forget to give a like. Thank you! --- It seems that after again testing recent highs in early May, Cardano is sort of waiting for a big move, as other coins are as well. It is just matter of strenght! It is slightly looking for the resistance level formed by the highs of June 2019 and February of this year. To be honest, it would take a couple of days in green to reach the 0.786 level and consolidate that area for more growth. On the other side you already know what there is. ;) In a two-hour view we can see how right now it is trying to return to the highs of April 30, with rising RSI and without being oversold. So far, so good. We leave this analysis before the imminent supposed golden cross in a few days is completed and thus be able to see the result. And which side are you on? Thanks for your appreciation.
BINANCE:ADAUSD
by harribatu
2
Will Cardano (ADA) Breakout The $0.10 Resistance In This Rally?A chain reaction is triggered: in my previous post I predicted a chain reaction in the price line of Cardano, if you missed my previous post then here is the link: As in my previous post we have seen that in the month of March after strong bearish trend the ADA completed the final leg of big bullish Butterfly pattern on the monthly chart. And as per Fibonacci sequence of the bullish Butterfly the priceline was supposed to take the bullish divergence from the potential reversal zone and enter in the Fibonacci projection from 0.382 to 0.786 Fib level. And this was the Fibonacci projection of A to D leg. In the meanwhile on the smaller time period 2 day chart the ADA formed another bullish harmonic Crab pattern and entered in the buying zone of this Crab pattern as well. And we can see that 1st price action took a bullish divergence from the buying zone Crab pattern and triggered a kind of chain reaction that the priceline from the potential reversal zone of the big bulllish Butterfly pattern on the monthly chart also moved up and entered in the sell zone or Fibonacci projection area and produced more than 184% bullish rally. Now what next? Now the question arises that if both bullish patterns are executed then whether the priceline of Cardano will continue this bullish rally or not? Because so far the ADA has produced more than 184% Big gains. Is there any possibility that the Cardano will move more up to produce more gains? For that we need to study some more indicators and support and resistance levels let's have a look at them. Support and resistance levels: If we switch to the daily chart to watch the different support and resistance levels. Then we can observe that the strong bearish rally in the month of March 2020 the price action was trying to breakdown the $0.027 support. This is a very strong support that is not broken down since December 2018 and this time it has worked well and did not let the priceline move down. From here the price action moved up and broke out the next resistance level $0.045. At this time the price action has started a correction rally to re-test the previous resistance as support and after successfull re-test of this previous resistance as support the price action can move up to break out the next resistance level $0.065. And after breaking out the $0.065 resistance level we have key level resistance at $0.10. Once the price action will break out this key level resistance then it can turn more bullish to achieve the highest price ever in the history of Cardano. Moving averages: On the same daily chart the moving averages are also doing good. After the bullish rally of March 2020 the price action broke out all the simple moving averages with the time period of 25, 50, then 200 and at the end it has broken out the 100 simple moving average. Sofar the price action has re-tested the 25 and 50 simple moving averages as a support. After breaking them out the price action did not re-tested the 100 and 200 SMAs resistance levels as support. Therefore we can expect that the priceline may start correction rally from here and re-test the 100 and 200 simple moving average resistance levels as support. Conclusion: On short term we can expect a correction rally to retest the $0.045 support and 100 and 200 SMAs. The continuation of bullish rally depends on the success of this re-test if the priceline will not breakdown these supports and then it can further move up to breakout the key level resistance at $10 and in case of breakingout the $0.10 resistance it can turn more bullish than previous bullish move. Note: This idea is education purpose only and not intended to be investment advise, please seek a duly licensed professional and do you own research before any investment.
KRAKEN:ADAUSDLong
by moon333
1
ADAUSD formed bullish BAT | Upto 40% move expectedHi guys and gals hope you are doing good, Cardano (ADA) is giving another long opportunity on 2 day chart and has formed bullish BAT pattern and entered in potential reversal zone and ready to move up at any time from here. The dimensions of pattern: After initial leg (X to A) the A to B leg is retraced between 0.382 to 0.50 Fibonacci and then B to C leg is projected between 0.382 to 0.886 of A to B Fibonacci projection area and last leg (C to D) is retraced between 0.786 to 0.886 Fibonacci and now the price action is moving in potential reversal zone of this bullish BAT and now we can expect bullish divergence at any time which will lead the priceline between 0.382 to 0.786 Fibonacci projection of A to D leg. Buying And Sell Targets: The buying and sell targets according to harmonic BAT pattern should be: Buy between: $0.0393 to $0.0352 Sell between: $0.0493 to $0.0493 Stop Loss: The potential reversal zone area which is up to $0.0352 can be used as stop loss in case of complete candle stick closes below this level. Note: This idea is education purpose only and not intended to be investment advise, please seek a duly licensed professional and do you own research before any investment.
KRAKEN:ADAUSDLong
by moon333