BINANCEADAUSD – Cryptocurrencypanther

Cardano Analysis: Realistic Price Targets Based On Elliott Wave For BINANCE:ADAUSD By Cryptohopper

admin — Fri, 27 Aug 2021 16:38:15 +0000

Cardano (ADA/USD) has become the third-largest cryptocurrency after it reached a new all-time high of $3.00. Based on the Elliott Wave analysis ADA/USD has completed a five wave cycle since its inception, pointing to a possible three-wave retracement.

Elliott Wave Analysis

Elliott Wave analysis can help us break down the entire rally from 2017 through 2021. The initial impulsive move, which ended at $1.39, marked the first wave of this bullish cycle. From there, the wave II pullback ended at $0.017. The cryptocurrency then resumed higher in wave III towards $2.51, which was followed by the wave IV pullback towards $0.91.

Thanks to the Elliott Wave theory, we know that if there is a momentum divergence between wave III and wave V, our Elliott Wave count has a higher probability of success. The Elliott Wave analysis can be subjective, however if all the EW rules are met, then we can be sure that our Elliott Wave count is accurate.

Wave V is now still in progress and according to the Elliott Wave rules there are three ways to find a possible target of wave V:

1. Wave V can be equal in length to the first wave. In this case, wave V should have ended at $2.30 and developed a truncated wave 5, which we already surpassed.

2. Wave V’s target can also be the 61.8% Fibonacci extension of the first and third wave combined, measured against the low in wave IV. In this case, wave V should have ended at $2.42, but we already surpassed that target.

3. Wave V’s target can also be between 123.6% and 161.8% inverted extensions of the depth of wave IV. In this case, wave V can end anywhere between $2.89 and $3.50.

In summary, according the Elliott Wave analysis, Cardano can reach a maximum price of $3.50 before seeing a three-wave pullback.

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When To Buy Back Into Cardano? For BINANCE:ADAUSD By Finaboyy

admin — Sun, 22 Aug 2021 13:30:44 +0000

Cardano has show great strengh in price since 20/21 july. Almost a gain of 148%! I didn’t expect such a rise in price tough. Totally missed it cause i was more focused on other crypto’s. It seems obvious that Cardano is working hard to strenthen there fundaments of their blockchain platform by making it more future proof.

I understand that a lot of people want to buy in Cardano right now. However i woudn’t recommed it for the short term. After every rapid rise of price, their comes a downside. Also Bitcoin has gained these days and is reaching important support levels. I people want to buy Cardano wait for the price to go down and try to enter at a lower price.

In the chart i’ve highlighted three buy zones. The lower the buy-zone how bigger the chances of a big bounce to the upside will be. The first buy-zone is around $ 1.88. The second buy-zone is arond $1.6 because thats the support of the a previouw tradingrange which lasted almost 6 months… The third buy-zone is arond $ 1 – $ 1.12 which i think should be a no brainer for an entry.

So … I expect soms downside momentum of Cardano as the price has gained so much already. So a short position would be smarter in my opinion. Also Bitcoin is leaning towards important resistence which could lead to downside momentum for altcoin also. The buyzones indicated in the chart could help by finding a new entry after a retrancement in price of Cardano.

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CARDANO Broke All Time High, Now What ? For BINANCE:ADAUSD By Jojofang0901

admin — Fri, 20 Aug 2021 15:43:09 +0000

Hello traders:

ADA has been in a strong bullish pushed up from the HTF bullish reversal structure, and is now at the all time highs level.

From my previous analysis after price impulse out of the HTD descending strucu4tre, the price did indeed impulse up just as expected.

Now we are at the all time highs, few possibility can happen here.

While I am certainly bullish in this type of scenario, lets dig into what can we expect from the price this point onward.

ideally, we are going to get a consolidation here on the price, forming a bullish continuation on the lower time frames, and once the correction completes we can certainly get another move up.

So its best to be patient here to wait for the consolidation to happen and complete to confirm the next upside impulse.

Any continuation correction structure such as flag, channel, flat, triangle, pennant …etc. is sufficient and valid.

On the other hand, because the price hits all time high, we need to also consider a possibility of a reversal.

While I certainly favor the bullish bias and perspective, having a trading plan and forecast the different outcome will help us to be more consistent and sustainable.

So, if the price instead start to develop bearish reversal price action, say double tops, Head and Shoulder, Ascending channel , “M” reversal…etc.,

then that is a sign from the market that the bullish momentum is exhausted, and we might end up seeing a HTF double top and reverse down. So watch out for price development on the LTF is key.

Thank you

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