09Jan

Cardano/U.S. dollar(ADAUSD) Elliott Wave Technical Analysis 9 January 24

Elliott Wave Analysis TradingLounge Daily Chart, 9 January 24,

Cardano / U.S. dollar(ADAUSD)

ADAUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Zigzag

Position: Wave A

Direction Next higher Degrees: wave (II) of Impulse

Wave Cancel invalid level: 0.241

Details: Wave (II) is Equal to 61.8% of wave (I) at 0.406

Cardano / U.S. dollar(ADAUSD)Trading Strategy: ADA's rise appears to have ended at the 0.678 level, which was a five-wave Impulse rally in Wave 1. Therefore, the next price structure is a Wave 2 correction pattern with a retracement level of 61.8. % Wave 1, so wait for Wave 2 to complete for an opportunity to rejoin the uptrend.

Cardano / U.S. dollar(ADAUSD)Technical Indicators: The price is Above the MA200 indicating an uptrend, Wave Oscillator is a bearish Momentum.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

Source: Tradinglounge.com get trial here!

ADAUSD-Day-Crypto-Ch...

 


 

Elliott Wave Analysis TradingLounge 4H Chart, 9 January 24,

Cardano / U.S. dollar(ADAUSD)

ADAUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Zigzag

Position: Wave A

Direction Next higher Degrees: wave (II) of Impulse

Wave Cancel invalid level: 0.241

Details: Wave (II) is Equal to 61.8% of wave (I) at 0.406

Cardano / U.S. dollar(ADAUSD)Trading Strategy: ADA's rise appears to have ended at the 0.678 level, which was a five-wave Impulse rally in Wave 1. Therefore, the next price structure is a Wave 2 correction pattern with a retracement level of 61.8. % Wave 1, so wait for Wave 2 to complete for an opportunity to rejoin the uptrend.

Cardano / U.S. dollar(ADAUSD)Technical Indicators: The price is below the MA200 indicating a dowtrend, Wave Oscillators a bearish Momentum.

ADAUSD-4Hr-Crypto-Ch...

Related

Understand Bitcoin market trends: Bitcoin Crypto Price News Today BTCUSD Elliott Wave Technical Analysis

Understand Bitcoin market trends: Bitcoin Crypto Price News Today BTCUSD Elliott Wave Technical Analysis

Unlock the potential of Bitcoin trading with our in-depth Elliott Wave analysis. This guide provides...

Read More >
Comprehensive Elliott Wave Market Analysis: S&P 500, NASDAQ 100, RUSSELL 2000, DAX 40, FTSE 100, ASX 200 Insights

Comprehensive Elliott Wave Market Analysis: S&P 500, NASDAQ 100, RUSSELL 2000, DAX 40, FTSE 100, ASX 200 Insights

In our latest analysis leveraging the Elliott Wave framework, we advise investors to progressively a...

Read More >
Natural Gas (NG) Trends: Navigating Elliott Wave Technical Analysis for Profitable Insights

Natural Gas (NG) Trends: Navigating Elliott Wave Technical Analysis for Profitable Insights

NG's Elliott wave analysis points to continued downside potential. Despite a recent bounce, the ...

Read More >
Unlock ASX Trading Potential: REA GROUP LTD Stock Analysis & REA Elliott Wave Technical Forecast

Unlock ASX Trading Potential: REA GROUP LTD Stock Analysis & REA Elliott Wave Technical Forecast

Get the latest Elliott Wave analysis for ASX REA Group. Discover key stock trends, wave counts, and ...

Read More >
Looking to Invest in Nikkei 225 ETFs, Index Funds, or Individual Stocks: N225 Index Elliott Wave Technical Analysis

Looking to Invest in Nikkei 225 ETFs, Index Funds, or Individual Stocks: N225 Index Elliott Wave Technical Analysis

Stay ahead in the Nikkei 225 market with expert trading insights and analysis. This comprehensive gu...

Read More >
Forex Traders Can Gain Insights into Upcoming EURGBP Trends: Euro/British Pound Forex Elliott Wave Technical Analysis

Forex Traders Can Gain Insights into Upcoming EURGBP Trends: Euro/British Pound Forex Elliott Wave Technical Analysis

This article provides an in-depth EURGBP Elliott Wave analysis, focusing on both daily and 4-hour ch...

Read More >

Buy 1 Month

Get 3 Months!

Special Offer:

Trade Recommendations

Unleash the power of deversified trading with our comprehensive portfolio, covering:

  • Stock Trades
  • Crypto Trades
  • Forex Trades
  • Commodity Trades
Elliott Wave Analysis

Gain a competive edge with expert insights in to:

  • Global Indices
  • US Stocks & ASX Stocks
  • Forex & Crypto
  • Commodities
Top-Notch Trading Tools

Equip yourself with the tools of success:

  • Social Chat
  • Elliott Wave Algorithm
  • Screener
  • TradingLevels
  • Trading Game
7 Elliott Wave Analysts

Stay ahead of the market with daily charts and insightful videos
-Your secret to strategic trading!

JOIN HERE


Welcome to TradingLounge (ASIC A.R.No. 321187), specialists in trades, trading education and technical analysis, covering stocks, indices, commodities, forex and cryptocurrencies.

When you join TradingLounge you have access to everything we offer, including trade tools, educational content and a social platform to chat with like-minded investors.

Read more

@Copyright 2024 by tradinglounge.com

Contact Us

Australian no: 02 4787 6020

International no: +61 (2) 47876020

Pay with:

Find us on