ADAUSD Elliott Wave Analysis - TradingLounge Daily Chart
Cardano / U.S. Dollar (ADAUSD) Daily Chart Analysis
ADAUSD Elliott Wave Technical Analysis
Function: Follow Trend
Mode: Motive
Structure: Impulse
Position: Wave ((1))
Direction Next Higher Degrees: Wave I of Impulse
Wave Cancel Invalid Level: Not specified
Details: The chart shows a five-wave increase in Wave ((1)).
Cardano / U.S. Dollar (ADAUSD) Trading Strategy
The outlook for Cardano suggests the Wave 1 rally is nearing its end. The price is expected to enter a correction phase in Wave 2, likely testing the 61.8% (0.365) retracement level of Wave 1 before resuming the upward trend in Wave 3. It's advisable to wait for the correction to conclude before re-entering the trend.
Cardano / U.S. Dollar (ADAUSD) Technical Indicators
The price remains below the MA200, indicating a downtrend, while the Wave Oscillator signals bullish momentum.
ADAUSD Elliott Wave Analysis - TradingLounge H4 Chart
Cardano / U.S. Dollar (ADAUSD) 4-Hour Chart Analysis
ADAUSD Elliott Wave Technical Analysis
Function: Follow Trend
Mode: Motive
Structure: Impulse
Position: Wave ((1))
Direction Next Higher Degrees: Wave I of Impulse
Wave Cancel Invalid Level: Not specified
Details: The rally in Wave 1 is approaching completion, indicating a potential correction in Wave 2.
Cardano / U.S. Dollar (ADAUSD) Trading Strategy
The outlook for Cardano indicates that the Wave 1 rally may be ending. The price is expected to correct in Wave 2, likely testing the 61.8% (0.365) retracement level of Wave 1 before potentially rising again in Wave 3. Investors should consider waiting for the correction to end for a better entry point.
Cardano / U.S. Dollar (ADAUSD) Technical Indicators
The price remains below the MA200, suggesting a downtrend, with the Wave Oscillator indicating bearish momentum.
Technical Analyst: Kittiampon Somboonsod
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