Possible conformation low at .786ADA looking very interesting, trying to confirm a bottom at the .786 easy to mange risk here
ADAUSD.P trade ideas
"Cardano Signals Bullish Reversal with Chart Pattern"ADA Cardano: Analyzing the Potential Double Bottom Cup and Handle Formation
ADA Cardano, a blockchain platform known for its focus on scalability and sustainability, is capturing the attention of traders and investors as it exhibits a compelling chart pattern that could signal a bullish reversal. With the emergence of a potential double bottom cup and handle formation spanning over the past year and a half, coupled with short-term support being tested for recent lows, ADA Cardano's chart dynamics suggest a bullish outlook.
Understanding ADA Cardano
ADA Cardano is a decentralized platform that aims to provide a more secure and scalable infrastructure for the development of smart contracts and decentralized applications (DApps). Founded by Charles Hoskinson, one of the co-founders of Ethereum, ADA Cardano has positioned itself as a leading contender in the competitive landscape of blockchain technology.
The Double Bottom Cup and Handle Formation
A double bottom cup and handle formation is a bullish chart pattern that typically occurs after a prolonged downtrend, signaling a potential trend reversal. The pattern consists of two low points (the "bottoms") separated by a peak (the "cup"), followed by a smaller pullback and subsequent breakout (the "handle"). In the case of ADA Cardano, the formation of this pattern over the past year and a half suggests that the cryptocurrency may be poised for a significant upward move.
Short-Term Support and Recent Lows
In addition to the longer-term double bottom cup and handle formation, ADA Cardano is currently testing short-term support levels near recent lows. This consolidation phase serves as a crucial juncture for the cryptocurrency, as it establishes a base from which a potential breakout could occur. The ability of ADA Cardano to hold above these support levels despite market volatility bodes well for its bullish prospects.
Bullish Outlook
The combination of the double bottom cup and handle formation and the successful testing of short-term support levels paints a bullish picture for ADA Cardano. Traders and investors are closely monitoring the price action, anticipating a potential breakout to the upside. Positive developments within the ADA Cardano ecosystem, such as the upcoming rollout of smart contract functionality through the Alonzo upgrade, further bolster confidence in the cryptocurrency's long-term prospects.
Conclusion
In conclusion, ADA Cardano is exhibiting a compelling chart pattern in the form of a double bottom cup and handle formation, spanning over the past year and a half. With short-term support being tested for recent lows, ADA Cardano's chart dynamics suggest a bullish outlook, with the potential for a significant upward move in the near future. As market participants eagerly await confirmation of the breakout, ADA Cardano remains a cryptocurrency to watch closely for potential trading opportunities and investment growth.
Cardano (ADA) Bullish EW Count-In this EW count ADA is currently in a high time frame 5wave impulsive structure.
-ADA has just put in its W4 at the log 0.382.
-Price is now attempting to put in a W5 before ultimately, we have a bigger W2 correction.
-Currently looking for W5 to take out $0.70.
-Expecting W5 to top out around $0.73 as this is the 1-1 extension from W1.
-Could see an extended W5 that pushes up to $1 as this is the 1.618 extension from W1
-Once W5 has been put in, expect a bigger W2 to be put in.
-I expect W2 to retrace between 0.5 - 0.786 ($0.45 - $0.30)
-I expect W2 to last until Q3 - Q4
ADAUSDADA is still moving under a descending trend still not showing any form of bullish attempt to breakout or above trend as you can see in my Daily Timeframe (Green line) and Hourly Timeframes (Ash Line), so I'm still bearish for now.
Although would wait for price to test the Hourly Timeframe and see how price reacts at that level and change if need be, but I'm expecting a rejection from both the order zone and trendline.
#ADA #Cardano down retesting #Wyckoff accumulation zone#ADA #Cardano at 0.45-0.47 (50% #fibonacci retrace) just down to retest upper bound of #Wyckoff accumulation-zone at a moment, it has a potential to rebound up higher, depends on #BTC . If BTC is dump hard, next support zone could be at POC volume profile level, at 0.38 USD.
ADA.X in +8.01% Uptrend, growing for three consecutive days on JMoving higher for three straight days is viewed as a bullish sign. Keep an eye on this stock for future growth. Considering data from situations where ADA.X advanced for three days, in 269 of 441 cases, the price rose further within the following month. The odds of a continued upward trend are 61%.
BINANCE:ADAUSDT
Price Prediction Chart
Technical Analysis (Indicators)
Bullish Trend Analysis
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. 42 of 76 cases where ADA.X's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 55%.
The Momentum Indicator moved above the 0 level on January 29, 2024. You may want to consider a long position or call options on ADA.X as a result. In 67 of 124 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 54%.
The Moving Average Convergence Divergence (MACD) for ADA.X just turned positive on January 29, 2024. Looking at past instances where ADA.X's MACD turned positive, the stock continued to rise in 34 of 59 cases over the following month. The odds of a continued upward trend are 58%.
ADA.X may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Bearish Trend Analysis
ADA.X moved below its 50-day moving average on January 14, 2024 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for ADA.X crossed bearishly below the 50-day moving average on January 14, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In 11 of 17 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 65%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where ADA.X declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 53%.
The Aroon Indicator for ADA.X entered a downward trend on January 29, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Cardano (ADA) Eyes 25% Surge Amid Bullish Reversal Bullish Reversal in Falling Wedge: ADA exhibits a bullish reversal within a falling wedge pattern, hinting at a potential uptrend.
7% Overnight Surge: Cardano's impressive 7% overnight jump leads to a bullish engulfing candle formation, signifying strong buying interest.
Breakout Potential: If ADA successfully breaches the overhead trendline, it could reclaim the crucial $0.65 level.
Market-Wide Recovery Fuels ADA: The broader crypto market's bullish path bolsters ADA's prospects for a decisive breakout.
25% Upside Anticipation: With current momentum, ADA is poised for a significant 25% run in the coming week.
Long-Term Bullish View: Despite short-term volatility, the long-term outlook for ADA remains positive.
50% Fibonacci Level Rebound: ADA's bounce off the key 50% Fibonacci level and support trendline strengthens the case for further gains.
Volume and Sentiment Support: Rising trading volumes and positive market sentiment are pivotal in driving ADA's potential breakout.
50-Day EMA Reclaimed: ADA's recovery streak successfully surpasses the 50-day EMA, solidifying its bullish stance.
Current Trading Position: Cardano is trading at $0.527, near the resistance trendline, indicating a crucial juncture for future direction.
MACD Indicator Optimism: A bullish crossover in the MACD and signal lines suggests growing positive momentum for ADA.
Downside Risk Management: While an upside break seems likely, a reversal could lead ADA back to the 50% Fibonacci retracement level for support.
ADAUSD Cardano Bullish Flag $0.9-1.2 TargetBullish flag setup, has not completed yet, early warning;
otherwise $0.9-1.2 range
Cardano shows bullish signCardano (ADA) shows similar bullish sign along with other altcoins, i would prefer to buy and aim for upper trendline located at 0.53 cents
Ada possible flag pattern.Supporting the bull flag:
Price action: Following a strong upward move, ADA consolidated within a relatively defined channel, resembling a flag formation.
Flagpole height: Based on the flagpole (vertical distance of the initial breakout), a potential target around $0.80-$0.85 could be envisioned if the pattern breaks upwards.
Increased volume: A breakout accompanied by higher trading volume would strengthen the signal.
Cautious considerations:
Technical indicators: While some indicators like RSI suggest room for further growth, others like MACD are neutral or slightly bearish.
False breakouts: Not all flags lead to successful breakouts. False breakouts, where the price briefly surpasses the upper trendline but then falls back, are also possible.
Broader market: Cardano's performance is also influenced by the overall cryptocurrency market sentiment and potential external factors.
Overall:
The potential bull flag on the ADA/USD 3-day chart presents an interesting opportunity, but cautiousness is warranted. Consider these factors before making any investment decisions:
Confirmation of breakout: Wait for a decisive break above the upper trendline with strong volume to confirm the pattern's validity.
Risk management: Use stop-loss orders to limit potential losses and diversify your portfolio to mitigate risk.
Fundamental analysis: Consider Cardano's underlying fundamentals and long-term prospects beyond
ADA bull market cycle target $23!This can be potential target for ADA in the next bull market cycle. We are still so early. Think bigger.
ADA → Cardano Threatening to Fall to Support. Should We Short?ADA closed the large bull gap from our previous analysis and found support at the large bull candle open. We did not get a higher high and Bitcoin is showing signs of a pullback. Should we short here?
How do we trade this? 🤔
We should not short ADA on the Daily timeframe. The time to short was after the double top reversal near the $0.60 price range, we're too far away from the proper stop loss placement relative to Support Zone #1. You can find short trades on the 1HR timeframe or lower but for the Daily/4HR timeframe, we need to look for long entries.
We can wait for a bounce on Support Zone #1 to enter a long, but the crypto market may be looking at a more significant pullback. It's difficult to tell how the alt coin market will react to say, a 30% Bitcoin pullback. The point is, don't think that Support Zone #2 isn't a probable target. Either zone is reasonably to long, but we need to wait for the buy signal and confirmation bars before entering. A good buy signal is one with a long wick on the bottom at least 1/3 the size of the body closing on or near its high. A confirmation candle will be a strong bull candle closing on or near its low following the buy signal buy 1 to a few bars.
Until then, it's best to trade a different currency pair and wait for a good long opportunity here on ADA.
💡 Trade Idea 💡
Long Entry: $0.4210
🟥 Stop Loss: $0.3734
✅ Take Profit #1: $0.4690
✅ Take Profit #2: $0.5640
⚖️ Risk/Reward Ratio: 1:3
🔑 Key Takeaways 🔑
1. Large Bull Bar Gap Closed.
2. Strong Support on the Daily 30EMA.
3. Lower High after the 30EMA bounce.
4. Bad Risk/Reward Ratio for a short, wait for a long setup at Support Zone #1 or Support Zone #2
5. Bitcoin Showing Strong Reversal Signals, Impacts Market Sentiment.
💰 Trading Tip 💰
It's reasonable to take half profits at the first resistance target in a long trade, or the first support target in a short trade. Using a 1:1 Risk/Reward Ratio for your first target, you can move your stop loss up to your entry price, locking in profits. This allows you to watch the rest of the trade execute without worry of losing money. This helps improve trading psychology and the equity in your account.
⚠️ Risk Warning! ⚠️
Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk!
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1. Reading Price Action
2. Chart Analysis
3. Trade Management
4. Trading Psychology
Bearish Bat and double top Bearish Bat confirms double top. Short it! Idea was created for education & entertainment and this is not a trading advice
UPDATE - downward ADATaking a little linger than anticipated, again will re evaluate at 618 retrace. target still remains.
ADA Faces ☁️ - Time to Short? Most altcoins face bearish trading conditions in the next 24 hours, ADA included. Over a one-week horizon, these bearish and cloudy trading conditions will spill over to Bitcoin which is likely to face downside risk, just as Ether, Ripple’s XRP and Cardano.
“The Cardano network has no meaningful use or any credible track to get it,“ according to K33 Research, singling out the fact that there are no stablecoins issued using the Cardano blockchain.
“No USDT or USDC in a network generally means that no meaningful decentralized finance (DeFi) occurs, and that Tether and Circle attest to this because if something went on, they would issue stablecoins there,” the crypto research consultancy said.
“All price signals also point to Ada gradually disappearing from the crypto map. Ada has not rallied in line with other ‘stronger’ smart contract tokens when markets have improved, which is a strong indicator of a dying coin,” K33 Research warns.
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ADAUSDThis Week FORECAST
Opportunity for ADAUSD. Waiting for price action first before we take entry on this zone>> TAYOR
Risk Factors:
1. Market conditions, unexpected news, or external events could impact the trade.
2. Always use risk management strategies to protect your capital.
0.618 golden Fibonacci Uptrend.
Correction.
bear trap for now.
long at 0.409.
Simple and clear.
Thank me later.
Please like and comment
ADA/usd Weekly - Big Moves AheadCardano (ADA) just closed above its descending channel.
This week we need to watch for it to close above the channel again to confirm this breakout.
Closing October 8th above 25 cents is the key.
In the orange circles in September 2023, the rsi and stoch rsi may hold clues for an upcoming bullish move.
The rsi broke above its moving average, and the stoch crossed above the 20 level.
Looking in the past , when rsi and stoch had these moves, price had large gains.
In January of 2023 (red circles) price broke above its descending channel, the rsi crossed above its moving average and the stoch broke above the 20 level.
When these 3 moves occurred, price rose 40%.
And looking further back into March and July of 2022, there were similar clues in the rsi and stoch rsi. (White and blue circles)
Even though prices were in the lower half of the descending triangle, the 2 oscillators indicated price was about to rise.
When the rsi crossed above its moving average, and stoch crossed above the 20 level, these two moves resulted in 57% and 34% increases in price.
ADA - LongLooking for long positions, 0.47 is a good level for buying, and then manage the position alongside the diferent targets
Crazy analysis of Cardano #ADAHello guys!
adausd has formed a cup and handle pattern and its handle will continue to touch FL zone i mean $0.22 and after that this cryptocurrency can break out handle and touch main target for sure (final target $19)
i know this is crazy but what is not!!!
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ADA Looks for Support for next Bull RunCRYPTO:ADAUSD I'm looking for ADA to confirm support at 0.58 mark for an entry going to the next resistance at 0.63 in the next weeks, and then pushing further up to new highs in the future.
