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 

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