CardanoIf it were a h1 chart - I would jump in immediately)
But... Given the fact, that fractals are the same for Weekly and even Minutes charts, this structure makes a lot of sense to assume that ADA is going to deliver a fantastic growth.
Impluse, followed by a three-waves correction (WXY/ x2 ZZ).
Fits nicely within a channel, respecting its median at key points.
Will see. Hoping this time it flies, with the rest of the market
ADAUSD.P trade ideas
ADA Bull Run Insights: Historical Patterns and Future ProjectionIn this detailed analysis of Cardano (ADAUSD), we examine the current support level at $0.333, which is proving to be a significant point for potential gains. Should this support hold, ADA could see a substantial increase. However, if it breaks, the next strong support is around $0.24, where a bounce is highly anticipated due to upcoming positive events and the nearing approval of Ethereum ETFs. These events could trigger a rally in altcoins, likely to be observed in Q4 2024. Historically, bull runs have been characterized by high volatility and substantial price rises, which we expect to see again.
For the upcoming bull run, Cardano's target is projected to be at least $7, based on historical performance and calculations. If ADA flips the $7 resistance by February 2025, we could see a maximum target of $9.11. Cardano, listed during the September 2017 alt season, yielded a 7322% return and an impressive 15556% return during the 2021 bull run. For 2025, we are anticipating a return of approximately 3750%. ADA is currently forming an uptrend with its maximum resistance projected at $9.11. Historically, bull markets have seen unexpected price pumps, and we can expect similar volatility this time. It is crucial to monitor S&R zones to keep trades active and plan to exit long positions around March or August 2025.
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ADA/USD: capitulation to the 0.10-0.13 areathe correction in ADA/USD has completed a 5 wave structure to the downside, the start of a zig-zag pattern
it is followed by what appears to be an expanded flat
based on Elliott wave theory, there will be 5 more waves to the downside
there is a high risk of capitulation given current sentiment
most likely region of support is the 0.10-0.13 region
Cardano Is approaching the downtrendHey Traders, in today's trading session we are monitoring ADAUSDT for a selling opportunity around 0.410 zone, Cardano is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.410 support and resistance area.
Trade safe, Joe.
Everything Suggests 33c Cardano ADACardano broke down from it's consolidation structure and is now headed to the next level at 33c.
33c is:
- The next major level of support
- The 1.618 of a bullish butterfly (although not perfect)
- The exact measured move of the triangle
We had a bullish bias towards this consolidation structure, as we did for many of the altcoins, however that has now changed and we flipped bearish on the market short - mid term.
We managed to get out of the posted positions early before having to take significant losses.
Now the game plan is to short assets like cardano until they reach the next level or a bullish structure develops. The bearish bias will remain until this changes and we will constantly update. We will also not own or buy any of these assets until then.
As of right now we are short from 42.3c and will update with continuation patterns. We expect this to last a month or two from now before getting a clearer long term picture.
ADA/USDT Trade Alert: Bullish Butterfly Pattern Indicates PotentThis report provides a detailed technical analysis of the ADA/USDT pair, focusing on the formation of a Bullish Butterfly Harmonic Pattern at a key support area. Based on the analysis, we propose entry, stop loss, and multiple take profit levels to maximize potential returns while managing risk effectively.
Bullish Butterfly Harmonic Pattern
Pattern Formation
The ADA/USDT pair is currently exhibiting a Bullish Butterfly Harmonic Pattern. This pattern is characterized by specific Fibonacci retracement levels which indicate a potential reversal from the current bearish trend to a bullish trend. The completion of this pattern suggests a high probability of an upward price movement from the identified support area.
Key Support Area
The key support area has been identified at 0.385. This level has historically shown strong support, making it a strategic entry point for initiating a long position.
Trade Recommendations
Entry Point
Entry Price: 0.385
The entry point is set at 0.385, aligning with the completion of the Bullish Butterfly pattern and the key support level. This entry ensures that the trade is positioned to capitalize on the anticipated bullish reversal.
Stop Loss
Stop Loss: 0.358
A stop loss is placed at 0.358 to limit potential downside risk. This level is strategically chosen below the support area, ensuring that only a confirmed breakdown below the support will trigger the stop loss.
Take Profit Levels
To manage profits effectively, multiple take profit levels are set as follows:
TP-1: 0.41200
TP-2: 0.43900
TP-3: 0.46600
TP-1: 0.41200
Conclusion
The formation of the Bullish Butterfly Harmonic Pattern at the key support area suggests a high probability of a bullish reversal for ADA/USDT. The recommended trade setup, with an entry at 0.385, stop loss at 0.358, and tiered take profit levels, offers a balanced approach to risk and reward. Traders should monitor price action closely to adjust the trade plan as needed based on market conditions.
Please ensure to conduct your own analysis and consider current market conditions before executing any trades.
Cardano has a strong bearish momentum, could it fall further?Price is rising towards a resistance level which is a pullback resistance that lines up with the 61.8% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 0.3933
Why we like it:
There is a pullback resistance level which lines up with the 61.8% Fibonacci retracement.
Stop loss: 0.4173
Why we like it:
There is a pullback resistance level.
Take profit: 0.3505
Why we like it:
There is a pullback support level.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
ADA Looks PrecariousADA is retesting important resistance/support at around $0.4. For me personally it doesn't look strong, and my bias would be that it is more likely to break down from here.
However it may hold this level as support, which it needs to in order to remain bullish.
If I was holding bullish, I would be using this level as a sell signal, if it breaks down.
Cardano WXY In Primary 2Cardano (ADA) is currently in a WXY (double zig-zag) in primary 2 which looks to take the price down to dangerous lows. The WXY is comprised of a zig-zag, expanded flat, and a zig-zag. The 1.618 extension of W gives us a price target of 0.02036 while the trend-based fibonnaci extension of AB in Y gives us price targets of 61.8 at 0.68USD 100.00 at 0.33USD, and 123.6 at 0.11USD.
ADA: It is possible that the correction is over or almost overFriday's price action has a couple of very strong confluence. First the double bottom at 0.5 fib level, and second, RSI bullish divergence. EW perspective, this could be an ending diagonal to end wave 5 of C. This could also be wave 1 of 5 of C; so, we wouldn't know for sure unless we see price move above $0.57. We could see a sharp move up for ADA which could go against the general market trend where BTC and others are still correcting and should be correcting for another month or so. ADA might be the one to start the next cycle this time. We should see very bullish price action if that is the case. If price stays choppy and next week we don't see an upward momentum, then probably something else going on. We will find out in a few days.
Potential bearish drop?ADA/USD is rising towards a resistance level which is an overlap resistance level that is slightly below the 50% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 0.4431
Why we like it:
There is an overlap resistance level that is slightly below the 50% Fibonacci retracement.
Stop loss: 0.4700
Why we like it:
There is a pullback resistance level.
Take profit: 0.4147
Why we like it:
There is a pullback support level.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Potential bearish drop?ADA/USD is rising towards a resistance level which is a pullback resistance and could reverse from this level to our take profit.
Entry: 0.4227
Why we like it:
There is a pullback resistance level.
Stop loss: 0.4428
Why we like it:
There is an overlap resistance level which is slightly below the 50% Fibonacci retracement.
Take profit: 0.4024
Why we like it:
There is a pullback support level.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.