Elliott Wave Analysis TradingLounge Daily Chart,  7 November 23, 

Cardano/ U.S. dollar(ADAUSD)

ADAUSD Elliott Wave Technical Analysis 

Function: Counter Trend

Mode: Corrective

Structure: Triangle

Position: Wave C

Direction Next higher Degrees: wave (b) of Zigzag

Wave Cancel invalid level: 

Details:The Moves within Triangle pattern.

Cardano/ U.S. dollar(ADAUSD) Trading Strategy: ADA recovered well from the 0.239 level, but there is no evidence of an end to the downtrend yet. The overall picture is a movement within the Triangle pattern. Currently, wave C of the triangle is developing in a Double Zigzag pattern and wave ((Y)) is equal to wave ((W)) at the level of 0.397.

Cardano/ U.S. dollar(ADAUSD)Technical Indicators: The price is above the MA200 indicating an uptrend,  RSI is a Bullish  Momentum.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

Source: Tradinglounge.com get trial here!

Elliott Wave Analysis TradingLounge 4H Chart, 7 November 23,  

Cardano/ U.S. dollar(ADAUSD)

ADAUSD Elliott Wave Technical Analysis 

Function: Counter Trend

Mode: Corrective

Structure: Double Corrective

Position: Wave Y

Direction Next higher Degrees: wave C of triangle

Wave Cancel invalid level: 

Details: Wave ((Y)) equal to Wave ((W)) at 0.397

Cardano/ U.S. dollar(ADAUSD)Trading Strategy: ADA recovered well from the 0.239 level, but there is no evidence of an end to the downtrend yet. The overall picture is a movement within the Triangle pattern. Currently, wave C of the triangle is developing in a Double Zigzag pattern and wave ((Y)) is equal to wave ((W)) at the level of 0.397.

Cardano/ U.S. dollar(ADAUSD)Technical Indicators: The price is above the MA200 indicating an uptrend,  RSI is a Bullish  Momentum.