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ADAUST trade ideas

ADA: Channel Down BreakoutTrade setup : Bullish breakout from a Channel Down pattern could signal near-term bullish trend reversal with upside to $0.52 (200-day moving average). Stop Loss (SL) at $0.43. This is a riskier trade setup because it’s a trend reversal not a trend continuation setup. It’s against the overall downtrend. Pattern : Price was trading in a Channel Down pattern. With complete patterns (i.e. a breakout) – initiate a trade when the price breaks through the channel’s trendlines, either on the upper or lower side. When this happens, the price can move rapidly in the direction of that breakout. Learn to trade chart patterns in Lesson 8. Trend : Neutral on Short-Term basis and Downtrend on Medium- and Long-Term basis. Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55). Support and Resistance : Nearest Support Zone is $0.46, then $0.35. The nearest Resistance Zone is $0.57 (previous support), then $0.65 - $0.68, and $0.80.
Long
by altFINS
will this bull market be short-lived? serious question folks. whats really coming for us? Cardano was my biggest gainer last cycle. Infact, i pretty much still leaving off my ada earnings up till now. anyways when we look at it's charts, it looks like it's at the same spot it was last cycle before lift off. Now, this is of course good BUT... my issue is, will this bull market just be short lived and we go again to the trenches of the bear next year? it took 287 days for ada to top after lift off from consolidation in the box. It cant happen the same this time but if it were to happen then that would be Jan of next year. I see some signs that we might be taking off soon but i am disturbed on the timing of it. (i'm not saying that it will go that high btw. thats just a demonstration from past cycle).
by Understandingcrypto
ADA: Channel Down BreakoutTrade setup : Bullish breakout from a Channel Down pattern could signal near-term bullish trend reversal with +10% upside to $0.52 (200-day moving average). Stop Loss (SL) at $0.43. This is a riskier trade setup because it’s a trend reversal not a trend continuation setup. It’s against the overall downtrend. Pattern : Price was trading in a Channel Down pattern. With complete patterns (i.e. a breakout) – initiate a trade when the price breaks through the channel’s trendlines, either on the upper or lower side. When this happens, the price can move rapidly in the direction of that breakout. Learn to trade chart patterns in Lesson 8. Trend : Downtrend across all time horizons (Short- Medium- and Long-Term). Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI < 45 (Bearish). MACD Histogram bars are declining, which suggests that momentum is weakening. Support and Resistance : Nearest Support Zone is $0.46, which it broke, then $0.35. The nearest Resistance Zone is $0.57 (previous support), then $0.65 - $0.68, and $0.80.
Long
by altFINS
Charles Hoskinson Accuses Biden of Trying to Kill CryptoCharles Hoskinson, founder of Cardano ( CRYPTOCAP:ADA ), has criticized President Biden's pledge to veto a bill aimed at reigning in the SEC's crypto crackdown. This comes as the American crypto and blockchain community perceives the Democratic party as a threat. Hoskinson has accused the White House of trying to "destroy the American cryptocurrency industry" and stated that a vote for Biden is a vote against cryptocurrency. The Cardano ( CRYPTOCAP:ADA ) founder claims to speak for the entire industry and has criticized the Securities and Exchange Commission (SEC)'s efforts to sue major crypto companies in the United States, which Hoskinson and his peers call "regulation by enforcement." He added that this policy has cost tens of thousands of American jobs and the loss of a trillion-dollar-plus industry. Hoskinson's intervention in the matter stems from President Biden's veto of a Congressional joint resolution that would reign in the SEC's crypto crackdown. Blockchain leaders lobby for change, with Messari CEO Ryan Selkis and the Winklevoss twins being some of the party's fiercest critics. Brian Armstrong and Brad Garlinghouse have taken a more neutral stance, while Coinbase and Ripple CEOs have turned the crypto lobby into a heavyweight political fundraiser. One of Biden's only notable supporters in the crypto sector comes from Donald Trump's former communications director Anthony Scaramucci, who founded the crypto hedge fund SkyBridge Capital. Scaramucci's lukewarm endorsement of Biden stems from concerns over Trump's unpredictable leadership style, predicting that a Trump administration would be better for crypto regulation in the short term but creating havoc and unpredictability in the legal system in the long term. Charles Hoskinson has also criticized the World Economic Forum's Contributor Yuval Noah Harari over his remarks on Bitcoin and crypto assets. Hoskinson termed the analysis "Duning-Kruger on steroids," garnering support from the wider crypto community on social media spaces. Crypto analysts have long criticized traditional finance players for their poor assessment of the market without fully embracing aspects of the technology. Crypto executives continue to defend the cryptocurrency industry against criticisms from traditional finance players and unfair regulatory scrutiny in recent times. Harari stated his dislike for Bitcoin because it was developed based on distrust of centralized institutions and that developments over the century show that it's a good idea to give the government and banks the ability to create more money to build trust in society. Digital asset users have rallied around Hoskinson, firing at previous criticisms of most traditional finance analysts. Technical Outlook Cardano ( CRYPTOCAP:ADA ) has been on a falling wedge consecutively since the start of January. The price of CRYPTOCAP:ADA has been highly volatile with the asset falling and reversing to new highs. CRYPTOCAP:ADA has a Relative Strength Index (RSI) of 37.79 which is slightly oversold. A bullish reversal is on the horizon with the asset already in a falling wedge pattern.
Long
by DEXWireNews