Cardano / U.S. Dollar (ADAUSD) 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 II

Invalidation Level: N/A

Cardano (ADA) Daily Chart Analysis – Trading Strategy

After peaking near $1.33 in late 2024, Cardano (ADA/USD) has entered a corrective Elliott Wave pattern labeled A–B–C. The current price action is testing a crucial Fibonacci support zone, which lies between 0.5547 and 0.4380 — the typical retracement range of wave 2 against wave 1. This area often marks the completion of wave (II) and may signal the upcoming formation of wave (III), which is typically bullish.

Trading Strategies

• Strategy

Approach

✅ Short-Term Traders (Swing Trade):

If ADA/USD holds above the 0.55 support level and then reclaims the 0.85 resistance, this may present a valid setup to enter a potential bullish wave (III).

• Risk Management

If ADA/USD falls below 0.321, the existing Elliott Wave structure is invalidated, necessitating a revised wave count and outlook.

Cardano / U.S. Dollar (ADAUSD) Elliott Wave Analysis – TradingLounge H4 Chart, 11 April 2025

ADAUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Flat

Position: Wave ((C))

Next Higher Degree Direction: Wave II

Invalidation Level: N/A

Cardano (ADA) 4-Hour Chart Analysis – Trading Strategy

Since topping out at $1.33 in late 2024, Cardano's price has been in a continued A–B–C correction. The token is now consolidating within a significant Fibonacci retracement area between 0.5547 and 0.4380, a frequent turning point that may conclude wave (II). If confirmed, wave (III) could initiate, suggesting strong upward momentum ahead.

Trading Strategies

• Strategy

Approach

✅ Short-Term Traders (Swing Trade):

Look for a potential long entry if ADAUSD remains above the 0.55 level and breaks out over 0.85, indicating a likely wave (III) rally.

• Risk Management

A drop below 0.321 invalidates the current Elliott Wave outlook, prompting the need to reevaluate the market structure.

Technical Analyst: Kittiampon Somboonsod, CEWA

Source: Visit Tradinglounge.com and learn from the Experts. Join TradingLounge Here 

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