The descending triangleI see a nice descending triangle. I will enter into a deal after breaking through the level. A descending triangle. I see a good momentum, a zigzag, good levels, a narrowing of the triangle.
ADAUST trade ideas
ADA Technical Analysis• After breaking its ascending trend line, Cardano tested its major support at the daily Fibonacci zero zone.
• Subsequently, ADA rose and is currently positioned precisely at its key support area.
• Should the price fail to stabilize above this support, especially with the bearish pattern nearing completion, a return towards the lower support is anticipated.
(All analyses will be updated)
This analysis is informational, not financial advice.
ADA/USDT intraday analysisADA/USDT is currently showing a strong sell-off from the price point of 0.6055, accompanied by a significant volume area.
This indicates a substantial accumulation of contracts.
It's likely that sellers active in this area will defend their short positions. Should the price revisit this zone, we can expect these strong sellers to exert further downward pressure on the market.
The combination of a downtrend and a strong volume area forms the primary basis for my short trading decision.
Happy trading,
Matty
Cardano ($ADA) Gains Momentum as Next Big ETF Candidate
Cardano ( CRYPTOCAP:ADA ), the renowned blockchain platform, is gaining significant attention as a potential candidate for future exchange-traded funds (ETFs) in the U.S. With the cryptocurrency community actively discussing the approval of altcoin-based ETFs following the green light for Bitcoin ETFs, Cardano has emerged as a front-runner in this new wave of investment products.
Cardano’s Stability Attracts ETF and Investor Focus
With the introduction of ETFs, an institutional interest in cryptocurrencies is anticipated. Cardano, known for its unique technological approach and solid community support, is a promising option for these investors.
A recent thread by a prominent Cardano blogger, @cardano_whale, addressed to his 143,300 followers, highlights the reasons for this growing interest. Cardano’s peer-reviewed, stable, and lightweight protocol, combined with a unique blend of UTXO and PoS in its consensus mechanism, sets it apart in distinctly solving the blockchain trilemma.
The protocol’s resistance to centralization, evidenced by its inclusive and transparent ADA distribution, makes it an attractive option for investors wary of manipulation. Unlike many other cryptocurrencies, founding entities control only about 10% of the CRYPTOCAP:ADA supply. Moreover, Cardano’s staking design is touted as one of the most decentralized, with many validator nodes enhancing the network’s security against potential attacks.
Cryptocurrency ETFs Pave Way for Broader Adoption
Cardano’s appeal is not limited to its robust security and decentralized nature. The platform’s ongoing developments in scalability and functionality position it as a rapidly evolving and feature-rich blockchain. This evolution is crucial for supporting a diverse range of decentralized applications (dApps), a sector that has seen exponential growth.
The adaptability of Cardano is further enhanced by its support for multiple programming languages, which broadens its appeal to a wider developer community. The recent onboarding of hundreds of native tokens and DeFi applications underscores the ecosystem’s dynamic nature. Combining these factors and programmable ADA scarcity cements Cardano’s status as a leading dApp ecosystem with solid organic growth.
The conversation around Cardano ETFs is taking place against the backdrop of an evolving regulatory landscape for cryptocurrency investment products. The approval of Bitcoin ETFs in the U.S. has allowed other cryptocurrencies to follow suit. Industry experts, such as Valkyrie’s co-founder Steve McClurg, have expressed optimism about the potential approval of ETFs for other major cryptocurrencies like Ethereum ( CRYPTOCAP:ETH ) and XRP.
Cardano is already making strides in this direction, backing the Swiss-registered 21Shares Cardano ETF and participating in the OTC-traded Grayscale Digital Large Cap Fund (GDLC) portfolio. The establishment of such ETFs could significantly enhance the accessibility and attractiveness of Cardano to a broader range of investors, particularly those from traditional finance sectors looking to diversify their portfolios with digital assets.
ADA: Pullback in UptrendTrade setup : Price remains in an uptrend. Following a bearish breakout from an Ascending Triangle pattern, price pulled back near $0.46 support, which could be an attractive swing entry in Uptrend with upside potential back to $0.65. Stop Loss (SL) at $0.43.
Trend : Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Mixed as MACD Line is below MACD Signal Line (Bearish) but RSI ~ 50 (Neutral). MACD Histogram bars are rising, which suggests that momentum could be nearing another upswing.
Support and Resistance : Nearest Support Zone is $0.46 (previous resistance), then $0.40 - $0.42. The nearest Resistance Zone is $0.65, then $0.75.
DestinyI have not the slightest doubt that an important resistance has been broken and the beginning of the growth cycle has begun, I hope you will not be left behind
ADA Readying Itself for a Strong MoveThe Cardano price was able to break above a medium-term falling wedge that had formed on its charts over the past couple of weeks. This led to the altcoin overcoming the $0.5380 and the $0.5830 resistance levels. In the last 24 hours, however, ADA has fallen below the $0.5830 mark.
This recent pullback has resulted in the formation of a symmetrical triangle pattern on ADA’s 4-hour chart. Should this pattern be validated, the Cardano price may soon enter into a strong move. If this move is towards the upside, the crypto may attempt to reclaim a position above $0.5830. A 4-hour candle close above this level could then lead to ADA rising to as high as $0.6510 in the following 48 hours.
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Conversely, a negative breakout may lead to the Cardano price falling to the aforementioned $0.5380 support level. Continued sell pressure should ADA retest this level may force the crypto’s value all the way down to $0.4915.
Technicals in Favor of Bulls
The Moving Average Convergence Divergence (MACD) suggested that ADA’s bullish trend may be cooling off and that it could undergo a bearish reversal soon. This was evident by the MACD line closing in on the MACD Signal line.
The Relative Strength Index (RSI), however, showed that bulls still had the majority of the strength on ADA’s 4-hour chart. Not only was the RSI positioned above its Simple Moving Average (SMA), the prior was also breaking away above the latter. This technical flag may be indicative of an uptick in bulls’ strength.
ADA Bullish Pennant, but does that matter?Bullish pennant on daily. You can clearly see the pole and the volume dropping, both indicating a valid bullish pennant. We would need to see volume surge and for it to break to the upside for validation. Here's the thing, It needs to break above the previous high of .68 cents and that's really the bottom line. Also needs to confirm above that resistance on re-test. Bullish pennants are unreliable with success at around 54% with limited upside if they do break positive, like 6-7% from what I've read. Really IMHO you should be looking at the price action resistance and making a new higher high before trading it. I would look for a bounce off of support in red above the .68 cents previous high. If it fails to do that or breaks down out of the triangle, it's invalid, which happens a lot and can signal a lower low below .54 cents.
it's time to going down for ADAUSDTbefore buying, please check for being sure about your opinion about this CRYPTOCURRENCY!!!
(in every target you want, closed the position but our target is the third one)
*Guy's the entry place is importance things in enter in a position and be careful do not going up your leverage over 7x ,all things it's about risk management*
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if you want to enter in this position:
Enter Price: here
Target1: 0.5906
Target2: 0.5850
Target3(Final Target): 0.5731
Stoploss: 0.6078
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Cardano's Race to Breakout: Will the Turtle go 1-2-3 Fly ? 🐢🚀 Hello everyone! The crypto sphere is buzzing with the recent approval of the Bitcoin ETF, sparking a surge in altcoins. Among them, Cardano has been stealing the show. We've seen some successful entries with Cardano, including a notable one at $0.25. However, the critical level to watch now is $0.6863. Cardano must break this to signal a major breakout. This could be the third and pivotal attempt, following previous rejections in June and December 2022.
If you are laughing at my ''1-2-3' better check some examples here (click on play) and here
So, what's the probability of Cardano breaking higher? I estimate a 64% chance. But remember, there's still a 36% possibility of a rejection, and we must be prepared for that. No FOMO – we only make moves once it's over that crucial level.
Delving into the Cardano vs. Solana debate, Cardano, with its Haskell programming base, is like the turtle in the ancient fable – slow but steady. In contrast, Solana is fast and furious, akin to the rabbit. But as the fable goes, it's often the turtle that wins the race. Cardano's emphasis on safety, while leading to slower developments, has its advantages.
On the charts, we're seeing new support levels forming. After our successful entry yesterday, Cardano shows new support at $0.5925. Our target is to go long up to $0.6865 for the critical third test. Below this level, we have support at $0.58 and $0.52, but we're hoping not to see these levels tested.
With the recent discussions about ETFs, attention has been mainly on Ethereum and Ripple. However, I anticipate a shift where Cardano could also enter the ETF conversation. Given its American roots and unique approach, it's plausible we might hear rumors of a Cardano ETF soon. This development could significantly impact its market performance, similar to Ethereum's recent rise.
In conclusion, the chart is our guide. We buy over $0.6865, being aware of the 36% chance of rejection. Under this level, we remain cautious, ready to adjust our positions. Will Cardano, the turtle, prove its resilience and win this race? Let's watch and find out.
One Love,
The FXPROFESSOR 💙
Altcoins Surging After SEC Approval
Are Cardano, Avalanche, and Others Spot ETFs Coming?
Cardano: The Next Solana?
Some Haskell criticism
ADA looks good on Daily TF! I am LONG!CRYPTOCAP:ADA is breaking out on Daily Timeframe and possibly will go higher from here! Market entry 10%, limit entry 2 (20%), limit entry 3 (70%).
SL is wide so be careful!
ADAUSDT going up after test double bottomsAfter create double bottoms, ada re test and can go up for new higher
Cardano (ADA)There are very few coins in the market with limitless potential, and Cardano (ADA) stands out as one of them. I have spent a considerable amount of time studying this project, and I believe in its mathematical algorithms. It's a project set to compete with Ethereum, and it's already showcasing its strength. On the chart, we observe a corrective wave structure (abc), concluding a five-wave structure of wave (c). I foresee further growth, although this ascent is constrained as the final impulsive wave five may conclude at the global Fibonacci grid of 0.5.
💎 ADA/USDT - First Long , Then SHORT ! But ? (READ THE CAPTION)By checking the Cardano chart in the weekly time frame (logarithmic), we see that the price fell after reaching the supply range of 0.67 and corrected to $0.46! If the price stabilizes below the supply range of $0.56 to $0.68, I will have a higher probability of falling from Cardano in the medium term! Only if the price breaks the $0.68 resistance and stabilizes above it, we can expect another Bull Run from Cardano! The efficiency of this cryptocurrency has been more than 150% so far !
Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !
Best Regards , Arman Shaban
ADAUSDT - 4HConsidering the strength of the buying pressure in the price, in case of breaking the downward trend and stabilizing the price above the range of 0.520 units, the price may increase to the range of 0.560, and in the case of the strength of the range of 0.620 units.
Otherwise, the possibility of the price falling to the range of 0.440 units and then gaining strength in the bullish scenario.
#6. TA_ADAUSDT_2024-01-10_09-40-20_dailyBuy
1st: $0.5
2nd: $0.46
3rd: $0.4
"they told me to write more"
ADA / Usdt trend analysis 4HYuup guys. I am more bearish on ada and i think we will see 0.46$ zone
As you see we have fvg in this zone Price maybe bounces up from 0.46$.
We wiill see :))
If you have a question please comment it buddies
ADA/USDT 1D ChartPrice is declining below the pivot point. The cause behind the downtrend is that the price has been making lower highs and lower lows at the resistance line at $0.6267 and breached the pivot point. Price may consolidate after rebounding from the first support at $0.4809 and may rally again by forming a new demand zone at the support line. A bullish divergence is formed by the RSI and may help the price rally above the pivot point and continue to surge. Confirmation is needed above the pivot point
ADA Cardano intraday setupADA still inside channel down, and already touch classic resistance at 0.5473
Bearish will continue to reach 0.4340 this is minor support for ADA.
there is two trading plan here,
follow bearish with short and target at 0.4340
or buy limit at 0.4340
Good luck
I will update this analysis if i found a new key level.
ADA ready to climb ! With the failure of the downward trend and the end of the poleback, it is likely to be able to climb to the specified goals
