ADA / U.S. Dollar (ADAUSD) Elliott Wave Analysis - TradingLounge Daily Chart
ADAUSD Elliott Wave Technical Review
Function: Counter Trend
Mode: Corrective
Structure: Flat
Position: Wave ((C))
Next Higher Degree Direction: Wave II
Invalidation Level: Not defined
ADA / U.S. Dollar (ADAUSD) – Trading Plan
Cardano (ADA) is currently positioned within wave C of wave II, concluding a larger corrective Elliott Wave pattern. The previous wave I finalized at the 1.331 USD mark. Wave II is forming a classic ABC correction, with wave C approaching completion. The estimated target for wave (5) within wave C lies near 0.553 USD, aligning with near-term ADA price forecast projections.
Trading Strategy
✅ Short-Term Traders (Swing Trading)
Look for a potential new wave sequence. The price range between 0.53–0.56 USD might offer a strategic entry point for short-term positions, especially when technical signals like:
- Bullish divergence
- Pin bar candlestick
- Breakout confirmation
are present.
Risk Management
The wave count is considered invalid if ADA drops below 0.292 USD. A break beneath this level would necessitate a full reassessment of the Elliott Wave structure.
ADA / U.S. Dollar (ADAUSD) Elliott Wave Analysis - TradingLounge H4 Chart
ADAUSD Elliott Wave Technical Review
Function: Counter Trend
Mode: Corrective
Structure: Flat
Position: Wave ((C))
Next Higher Degree Direction: Wave II
Invalidation Level: Not defined
ADA / U.S. Dollar (ADAUSD) – Trading Plan
On the 4-hour chart, Cardano (ADA) also appears to be finishing wave C of wave II, which concludes a significant corrective sequence. Wave I previously reached a high of 1.331 USD. The ABC corrective wave within wave II is nearly complete, and the final segment (wave C) aims for a target close to 0.553 USD.
Trading Strategy
✅ Short-Term Traders (Swing Trading)
Be prepared for a potential impulsive wave to follow. A key support zone between 0.53–0.56 USD could present profitable swing trade setups, particularly if supported by:
- Bullish divergence
- Pin bar formations
- Breakout signals
Risk Management
If ADA price action falls below the 0.292 USD threshold, the current Elliott Wave analysis becomes invalid, prompting a necessary structural reassessment.
Technical Analyst: Kittiampon Somboonsod, CEWA
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