03Feb

Cardano (ADAUSD) Elliott Wave Technical Analysis, Price Prediction, Trading Strategies, Support & Resistance, and Market Trends

ADA/USD (Cardano to U.S. Dollar) Elliott Wave Analysis - TradingLounge Daily Chart

ADAUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Flat

Position: Wave C

Next Higher Degree Direction:

Wave Cancel Invalid Level:

ADA/USD (Cardano to U.S. Dollar) Trading Strategy:

The current Elliott Wave structure of ADAUSD suggests a correction within Corrective Wave II. This wave could lead the price to test the critical support zone between 0.53 USD and 0.32 USD. Traders should monitor reversal signals from both the wave structure and technical indicators before opening any position.

Trading Strategies

  • Buy Strategy (Long Position):

    • • Wait for ADAUSD to reach the Wave C target near 0.53 USD or for the completion of the price structure. Confirm reversal signals through RSI or other technical indicators before entering a long position.
  • Risk Management:

    • • Exit your position immediately if the price falls below the Wave C Invalid Level (0.32 USD) to minimize losses.

ADAUSD-1d-crypto-cha...


ADA/USD (Cardano to U.S. Dollar) Elliott Wave Analysis - TradingLounge 4-Hour Chart

ADAUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Flat

Position: Wave C

Next Higher Degree Direction:

Wave Cancel Invalid Level:

ADA/USD (Cardano to U.S. Dollar) Trading Strategy:

ADAUSD is currently in a corrective phase as part of Wave II, indicating a potential drop to the key support levels between 0.53 USD and 0.32 USD. Observing reversal patterns and indicator signals is crucial before making any trading decisions.

Trading Strategies

  • Buy Strategy (Long Position):

    • • Consider buying when the price approaches the 0.53 USD support level or when the corrective structure completes. Look for RSI or other technical indicators to confirm the reversal.
  • Risk Management:

    • • To limit risk, close your position if ADAUSD breaks below the Wave C Invalid Level (0.32 USD).

Technical Analyst: Kittiampon Somboonsod

Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here 

Previous: ETHUSD Elliott Wave Technical Analysis

VALUE Offer - Buy 1 Month & Get 3 Months!Click here

Access 7 Analysts Over 200 Markets Covered. Chat Room With Support

ADAUSD-4h-crypto-cha...

Related

AAVE/ U.S. dollar(AAVEUSD) Elliott Wave Technical Analysis: Explore the corrective phase within the Zigzag pattern

AAVE/ U.S. dollar(AAVEUSD) Elliott Wave Technical Analysis: Explore the corrective phase within the Zigzag pattern

In this Elliott Wave analysis and trading strategy overview for AAVE/USD (AAVEUSD) on February 26, w...

Read More >
Cocoa Commodity: We Examine the Current Structure and Potential Price Movements Through Elliott Wave Technical Analysis

Cocoa Commodity: We Examine the Current Structure and Potential Price Movements Through Elliott Wave Technical Analysis

Cocoa prices have fallen over 40% after reaching record highs in April 2024, signalling a critical c...

Read More >
TASI Index Elliott Wave Technical Analysis: Detailed look at current market trends

TASI Index Elliott Wave Technical Analysis: Detailed look at current market trends

This analysis of the TASI Index using Elliott Wave theory provides a detailed look at current market...

Read More >
BTCUSD Elliott Wave Technical Analysis: Bitcoin/ U.S. Dollar Price Prediction, Trading Strategy and Key Insights

BTCUSD Elliott Wave Technical Analysis: Bitcoin/ U.S. Dollar Price Prediction, Trading Strategy and Key Insights

Gain a deeper understanding of Bitcoin's market movements with our BTCUSD Elliott Wave analysis....

Read More >
Cardano (ADAUSD) Elliott Wave Analysis: Resistance & Support Levels, Crypto Market Trends, and Technical Analysis

Cardano (ADAUSD) Elliott Wave Analysis: Resistance & Support Levels, Crypto Market Trends, and Technical Analysis

Elliott Wave Analysis of ADA/USD, highlighting Cardano's price projections, technical analysis, ...

Read More >
USDJPY Elliott Wave Technical Analysis: U.S. Dollar / Japanese Yen Forex Pair Bearish Trend & Forecast for Traders

USDJPY Elliott Wave Technical Analysis: U.S. Dollar / Japanese Yen Forex Pair Bearish Trend & Forecast for Traders

This USDJPY Elliott Wave Analysis provides an in-depth look at the bearish trend, price action, and ...

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