07May

Cardano Price Prediction: ADAUSD Elliott Wave Analysis Suggests Strong Bullish Breakout and Rally Towards $1.00 Resistance Target

ADA/ U.S. Dollar (ADAUSD) Elliott Wave Analysis TradingLounge Daily Chart,

ADAUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave 2

Direction for Next Higher Degrees: —

Wave Cancel Invalid Level: —

ADA/ U.S. Dollar (ADAUSD) Trading Strategy
In the latest Cardano price analysis, ADAUSD is showing a "retrend to rally" formation within a classic Elliott Wave 2 structure. This movement typically finishes between the 0.382–0.618 Fibonacci retracement levels. A confirmed breakout above the key resistance zone could signal the start of an impulsive wave 3, with a strong potential for ADA prices to surge beyond $1.00.

Trading Strategies

  • Strategy

Approach

✅ Short-term traders (Swing Trade)

Monitor a breakout above $0.73 to enter the anticipated wave 3 move.

  • Risk Management

🟥 Wave Cancel (Invalid Level): $0.640 (If ADA falls below this level, the current Elliott Wave count would be invalid.)

ADAUSD-d-crypto-char...


ADA/ U.S. Dollar (ADAUSD) Elliott Wave Analysis TradingLounge H4 Chart,

ADAUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave 2

Direction for Next Higher Degrees: —

Wave Cancel Invalid Level: —

ADA/ U.S. Dollar (ADAUSD) Trading Strategy
The ADAUSD forecast on the H4 chart also points to a "retrend to rally" behavior within a wave 2 correction, aligning between the 0.382–0.618 Fibonacci retracement levels. A sustained break over the major resistance point could initiate a powerful wave 3 rally, potentially lifting Cardano prices past the $1.00 barrier.

Trading Strategies

  • Strategy

Approach

✅ Short-term traders (Swing Trade)

Watch for a decisive breakout above $0.73 to capture the upward momentum into wave 3.

  • Risk Management

🟥 Wave Cancel (Invalid Level): $0.640 (If ADA trades below this price, it would nullify the current wave projection.)

Technical Analyst: Kittiampon Somboonsod, CEWA

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

Previous: NEOUSD 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

The TJX Companies Inc. Elliott Wave Technical Analysis for TJX Stock Shows Price Target at $130, and Strong Upside Momentum Ahead

The TJX Companies Inc. Elliott Wave Technical Analysis for TJX Stock Shows Price Target at $130, and Strong Upside Momentum Ahead

This technical overview of The TJX Companies Inc. (NYSE: TJX) uses Elliott Wave theory to analyze bu...

Read More >
Binance Crypto Price News Today Elliott Wave Technical Analysis: Depth Cryptocurrency Analysis and BNBUSD Price Predictions

Binance Crypto Price News Today Elliott Wave Technical Analysis: Depth Cryptocurrency Analysis and BNBUSD Price Predictions

This article dives into BNBUSD Elliott Wave analysis, providing insights into Binance Coin’s potent...

Read More >
XRP/ U.S. dollar(XRPUSD) Elliott Wave Technical Analysis 29 November 23

XRP/ U.S. dollar(XRPUSD) Elliott Wave Technical Analysis 29 November 23

XRP/ U.S. dollar(XRPUSD) Elliott Wave Technical Analysis dated 29 November 23

Read More >
NextEra Energy (NEE) Approaches Bullish Reversal: Elliott Wave Analysis Highlights Key Technical Levels and Wave Forecast Targets

NextEra Energy (NEE) Approaches Bullish Reversal: Elliott Wave Analysis Highlights Key Technical Levels and Wave Forecast Targets

NextEra Energy (NEE) is nearing the end of a corrective wave, setting up for a potential bullish rev...

Read More >
Offering a Complete AAVE/USD Trading Insights: AAVEUSD Elliott Wave Technical Analysis and Current Market Trends

Offering a Complete AAVE/USD Trading Insights: AAVEUSD Elliott Wave Technical Analysis and Current Market Trends

This article provides a comprehensive Elliott Wave analysis of AAVEUSD, covering current market tren...

Read More >
GX Uranium ETF (URA) Elliott Wave Technical Analysis: Unlocking Opportunities

GX Uranium ETF (URA) Elliott Wave Technical Analysis: Unlocking Opportunities

Delve into GX Uranium ETF's market dynamics through Elliott Wave Analysis, offering insights int...

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