Cardano is repeating the same pattern that led to the last retracement at the start of April. The Timings of the waves are almost exactly the same in the lead up (3 days up, 9 days down, 5 days up, followed by a week of contracting highs and lows before a break out).
We're currently just after the 9 days down and I expect that we'll see the price climb over the...
ADA is another coin which has broken the short term downtrend. It is now forming into a symmetrical triangle right at a daily support/resistance. Some good potential gains to be made if this breaks up. Bullish engulfing to break the triangle and off support would be the confirmation.
ADA has made significant gains recently as the market has started to become more bullish. Right now with BTC trying to make a decision on whether it's going above 10k or back down to retest support, ADA is sitting right on a 4 hr support level at 3612. If it can hold here and BTC continues moving sideways there may be a decent entry off support for around 10%...
CARDANO/BITCOIN is in an up Trend and resumption of up trend is expected.
The price is above the 21-Day WEMA which acts as a dynamic support.
The RSI is at 60.
The price is in an up trend, but we forecast the uptrend would probably resume.
There is still possibility of temporary retracement to suggested support zone...
Falling Wedge, Symmetrical Triangle - After a sizeable drop from 5 bullish impulse waves, Cardano formed a deep falling wedge, in late March this wedge was broken with a sideways movement forming a symmetrical triangle. I believe this should break down one more time once Bitcoin starts moving, there is poor volume on ADA and Bearish Divergence on the...
updated chart on the 240 ( 4hour )
cardano has bounced off the 0.78 retrace level as previous with last 2 corrections.
dmi-adx has confirmed break out on daily and 4 hour chart.
mac D - showing positive breakout.
rsi and cci still showing way over sold.
coming out of bearish trend on DMI
MACD looking to cross into uptrend
RSI<CCI all over sold.
uk meeting with mass investors tomorrow. high volatile movement possible.
buy between current price and 2900. 1st target 5000-5400sats
lets increase this volume !
ADA has pulled back to it's 78.6% Fibonacci and it's long term trendline. This is a great Buy Zone area. I have used the Fibonacci to project the target which matches perfectly with the parallel Flag Target derived from measuring the move up and projecting it from the flag breakout. When combined with the Fibonacci to get the same target (the 127.2% Fibonacci),...
Possible option for a buy zone as ADA continues to consolidate down in its 5th wave (S1)
Stop loss identified should the trend continue down (S2)
Fib Retracement from previous increase adjusted for previous resistance lines that may move to supports on for a 5 wave impulse move up.
Opinion not advice
Comments welcome - 1B2rBfu9X4nms6EtuQWDQuNy87Jn9hYkJs for...
CARDANO (ADABTC) BITTREX:ADABTC is looking very bearish.
Potentially on a large descending triangle with bearish indicators. We may see a short upward breakout from the triangle initially followed by a rapid trend down.
Analysis intended for education purposes.