Elliott Wave Analysis - ADA/USD (ADAUSD) - Daily Chart

ADA/USD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Flat

Position: Wave B

Next Higher Degree Analysis:

• Wave Cancel Invalid Level: Not specified

Details:

• Short-Term Outlook: Price is expected to continue rising within Wave B, targeting the 1.320 level.

Trading Strategy for ADA/USD:

• Price is expected to rise towards the 1.320 target within Wave B. Once Wave B completes, the market will likely move downward in Wave C, with the target zone near 0.703.

Main Outlook for ADA/USD:

• Short-Term: Price expected to rise, targeting 1.320.
• Mid-Term: Downward correction in Wave C could test support near 0.650.
• Long-Term: A new uptrend may begin after the corrective wave completes.

Elliott Wave Analysis - ADA/USD (ADAUSD) - 4-Hour Chart

ADA/USD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Flat

Position: Wave B

Next Higher Degree Analysis:

• Wave Cancel Invalid Level: Not specified

Details:

• Short-Term Outlook: Price will likely rise within Wave B, targeting the 1.320 level.

Trading Strategy for ADA/USD:

• The price remains in an upward adjustment in Wave B, aiming for the 1.320 target. Following the completion of Wave B, a downward move to Wave C is expected, with potential support around 0.703.

Main Outlook for ADA/USD:

• Short-Term: Price projected to rise to 1.320.
• Mid-Term: Wave C's downward correction may test support at approximately 0.650.
• Long-Term: Completion of the corrective structure could lead to a new upward trend.

Technical Analyst: Kittiampon Somboonsod

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