We have 10 ALTSBTC and 10 ALTSUSDT on the list.
This was undisputed #1.
So, let’s look at the chart.
In this instance I am going for the weekly/long-term chart because Cardano has its own cycle.
This is something important and that I mention very often, when I say Altcoins I am referring to ALL the Altcoins minus the TOP15/20 by market capitalization, because these TOP15/20 BIG altcoins can have their own market cycle.
The rest tend to move in a more synchronised way, easily predictable.
Now, I just got into the Altcoins vs USD/USDT just a few months ago and there is a reason.
These pairs have a chart that is basically identical to Bitcoin . They tend to move in the same manner give or take a few months.
Some move a few months ahead, others a few months behind.
Basically all the ALTSUSDT pairs have the same chart, with few exception.
If you can find out the ones that are leading the market, you can easily predict what the rest will do.
Here I am going for the long-term chart, a longer timeframe, and that is the Weekly (W | 7 Days per candle) because this one is way more advanced than what we just saw, SCBTC .
Cardano (ADAUSDT) hit a low back in March 2020, same as Bitcoin , and has been growing since.
Reading the chart here is very easy but the difficult part is to try and predict what will happen next but we don’t predict, we map the chart, calculate and prepare.
To start, we have a bullish chart.
Bullish trend .
Bullish cycle.
Prices trading above EMA10 signals that the bulls are in control.
This is only shy though as some struggle is going on.
In this chart I am mapping the resistance levels as well as support.
All the dotted lines marked above the current price are the resistance levels (targets) and the lines below are for support.
We also have working as support our trendlines , one set with the candle close and another one with the candle wick.
We also have the fib. retracement tool with multiple level as well as the EMAs, these coincides in some points which makes then stronger.
Now these analysis. ADAUSDT.
Volume has been dropping but is pretty much irrelevant as a signal as this point.
If prices go up we can get strong volume , if prices go down the same.
The MACD is showing a bearish cross with a red histogram, signaling downward pressure, the RSI is still strong.
We have bearish divergence between the RSI and ADAUSDT but not with the MACD .
Conclusion
If ADAUSDT can stay above $1.945 we can expect for its price to grow.
Below this level, we are aiming at EMA50 ($1.428) as the next support.
The bulls are ahead.
The market is green.
We will see how it goes.
The way we trade, we prepare for all scenarios, we buy and we hold.
If prices go below our stop-loss, we close the trade at a loss.
If prices go up and hit our targets, we collect profits and rejoice.
We do not predict the market, we use charting as a tool to support our calls.
All this information is my opinion only and shared based on my own experience after years and years looking daily at these charts.
This is not financial advice.
Thanks a lot for your amazing and continued support.
Namaste.
I will share with you another long study about ADA CARDANO .
We have a weekly chart on the screen.
From left to right, see that we are inside a bullish channel marked by Fibonacci zones.
By touching the 100% level the asset formed the cup and handle pattern.
Note that the asset loses the EMA21 at the bottom of the Cup and Handle , crosses over it and on the handle retests the EMA 21 as a support.
Shortly thereafter there is a bull run in asset prices of 770%
Realize that we have closed a loop there and that the same pattern starts over again.
1-Touch the 1,168% fiber line
2-Cup and handle
3-Loss of EMA 21 in the background
4-Breakthrough of EMA 21 upwards
5-Retest the EMA 21 on the handle.
Will we see a new Bull Run in ADA CARDANO?
If so, the target is the next 200% fibo level near $15.
And what do you think of this idea?
Comment there!
I hope I helped in some way.
Leave your like please and comment your opinion!
Disclaimer: The above comments reflect solely my opinion, this is not a buy or sell recommendation. Just a series of published studies, so that together with the community we can discuss operational tactics and techniques.
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This is the promising coins after Monero, Solana and XRP. Yet no one will believe this coins when many people fund their money to XRP while in the chaos of struggling on SEC that never ending.
Cardano with the smart contract for a greener blockchain has been announce recently but failed to tackle the situation to bring the trust, hope, promise and momentum to the coin.
Since all the blockchain sharing the same ‘chain’, it is difficult for any crypto under the dominance of 15% to conquer the energy of momentum.
Either Bitcoin crash, and all other crypto also crash due to the same environment system.
In order for one coin to survive the domino effect, they have to create the new system environment of the Blockchain 2.0 OR with other coding of blockchain which unique code system.
That is why all the trader putting their money on Bitcoin because the popularity, the momentum and trust. Either microstrategy or Elon musk traded the bitcoin and not Cardano .
Why?
That answer is simple. Leader.
Whoever once control the bitcoin , will control other coins.
Satoshi Nakamoto once in a paper wrote its first journal towards the operation system and thesis for the calculation in the algorithm of the energy currency with the help of system on the AI.
Long time ago when I made a research towards Elon Musk thesis, I found out that he once saying AI is the worst things human ever created. Since I am not relating Satoshi with Elon but the conclusion made me thinking on the other thesis in the system works for altcoins.
Wiping $344 billion off the market in a single 24 hours after panicked buyers sold off their tokens. Meaning some of the institution make their liquidation before the times end.
Every thing that has been created, will has its own time to end. We are survice the second phase of the variant and crashed is a common things to happen in investment industry nowdays.
In my calculation of the century, Cardano once again will visit the key value of $1.550.
Every thing that do not had a base, will visit again the base. It is same like we constructed a house with a proper base founding.
What goes up, will comes down. All the madness and craziness in the rich quick scheme is not there where none of cryptocurrency gone through a major success. A drastic drop is a burden to other cryptocurrency holder.
Many institution has liquidated their fund to enjoy the benefit but a holder has never enjoy their benefit of holding and some of them thinking to holder for a 10 years period but as soon as it gets to withdraw, it find most of it in a major catastrophic scene.
We believe in cryptocurrency is the new system that can develop a very good finding in transparency world of finance.
The top cryptos — bitcoin , ethereum and cardano , binance as well as the emerging Solana — all fell by as much as 12 per cent in this recent wild swings.
We learn something that even a believer holder once a panic attacked will withdraw their funding.
The market capitalisation of the combined world‘s cryptocurrencies dropped by $2.62 trillion, more than 10 per cent
For the time being, Cardano is looking towards its market caps, dominance, bitcoin health and miner environment.
The success of Cardano is dependant. But Bitcoin is otherwise – undependable
As Cardano is believe firm onto the $2.00 value, this will be shaken and will losing its level as it does like other coins.
Evergrande’s is the blame to the crypto after the Microstrategy but we will soon findings many bad news in this Q4 before the end of the 2021.
All the agenda will be revealed one by one.
Zezu Zaza
2048
-Price has been supported by 60MA
-ADA has now formed an ascending channel
Cardano has been one of the best performing crypto assets in the top 10 cryptocurrencies by market cap. Since the low of $0.017 was set in March of 2020, ADA is up nearly 14,000%. This is very impressive for a project that has yet to fully release the capabilities of its blockchain. On September 12th, Cardano is set to release its “Alonzo” upgrade which fully supports smart contract capabilities. Investors are buying up ADA in anticipation of a successful launch as Cardano will now be a competitor to Ethereum .
Over the last 2 days, ADA fully broke out of its bull flag formation & has went on to touch its previous ATH . Since this move, ADA has shown a newly formed pattern. This pattern is the ascending channel shown in blue, which often holds price together until either trend line is broken. Based on this channel, ADA may be starting a slight retrace before a possible breach of its ATH . For a new high to be set, ADA must break & hold the major resistance zone found at $2.44-$2.50. If bulls manage to pull this off, we should expect a push to the first target of $2.69, at minimum.
Based on the usual price action of a channel, ADA just got rejected at the top trend of its channel which should indicate a retrace is upon us. If bulls fail to break the next resistance zone , we should expect a retracement to at minimum the minor support found at $2.30. If this area fails to hold, we can expect a sweep to the major support zone found from $2.14-$2.24. This would be a healthy scenario and would leave ADA much support beneath. The 60MA has held ADA for weeks & as along as price is above it, ADA is bullish . Breaking below this MA or the bottom trend of channel would be a bearish scenario.
While looking at the Stochastic RSI , we can see how it’s been curling over within the overbought territory. This should indicate a pullback is coming for ADA. If strength breaks below the dotted line, we then should expect the retracement to occur. The regular RSI has printed a bearish divergence which indicates strength is lower on this push than it was a few days ago. If ADA fails to break & hold its major resistance zone , expect the divergence to play out with ADA falling to given support levels. ADA Intraday Analysis
Spot rate: $2.69
Trend: Bullish
Volatility: High
Support: $2.30
Resistance: $2.44
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