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By tradinglounge · Posted
MA Elliott Wave Analysis Trading Lounge Daily Chart, Mastercard Inc.,(MA) Daily Chart MA Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Minor wave 3 DIRECTION: Upside within wave 3. DETAILS: Looking for upside within wave 3 in what could be an extension in wave 3. Mastercard Inc., (MA) 1H Chart MA Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Minute wave {v}. DIRECTION: Upside in wave {v}. DETAILS: Here showing the alternative count in what could be a five wave move within minor wave 1. This Elliott Wave analysis for Mastercard Inc. (MA) examines both the daily and 1-hour charts to assess its current market trend, utilizing Elliott Wave Theory anticipate potential future movements. * META Elliott Wave Technical Analysis – Daily Chart* On the daily chart, MA is in an impulsive mode, currently progressing through Minor wave 3. There is the expectation of upside continuation within wave 3, and there are indications that this wave may experience an extension. This type of structure, where wave 3 extends, often signifies strong bullish momentum. Traders can anticipate that Mastercard may push to new highs as this extended wave develops, possibly surpassing significant resistance levels. The chart is likely targeting higher prices in this trend, supported by the broader impulsive structure. * META Elliott Wave Technical Analysis – 1H Chart* On the 1-hour chart, Mastercard is currently within Minute wave {v}. The current count suggests an alternative scenario in which wave {v} is part of a five-wave move within Minor wave 1. This count implies that, while we are nearing the end of this smaller wave sequence, there could be additional bullish movement before a larger correction takes place. As wave {v} completes, traders should watch for signs of exhaustion at resistance levels. However, the overall structure remains supportive of continued upward momentum within the context of the larger impulsive trend. Technical Analyst : Alessio Barretta Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
AUDUSD Elliott Wave Analysis Trading Lounge Day Chart, Australian Dollar/U.S. Dollar (AUDUSD) Day Chart AUDUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Gray Wave 2 Position: Orange Wave 3 Next Higher Degree Direction: Gray Wave 3 Details: Gray Wave 1 appears to be complete, with Gray Wave 2 currently in progress. Wave Cancel Invalidation Level: 0.66237 The AUDUSD Elliott Wave Analysis for the daily chart shows that the market is currently in a counter-trend phase, defined by a corrective movement. This wave pattern operates in a corrective mode, suggesting that the market is undergoing a temporary pullback against the broader trend. The current wave structure under observation is Gray Wave 2, which is in effect following the completion of Gray Wave 1. Gray Wave 1 has finished, signaling the end of the initial impulsive move. Now, the market has transitioned into Gray Wave 2, which is typically a corrective phase that follows the first impulsive wave. According to Elliott Wave Theory, Wave 2 usually retraces a portion of Wave 1 before the market resumes its primary trend, which is expected to happen in Gray Wave 3. Wave 3 is often the most extended and powerful wave in an Elliott Wave cycle, indicating that significant movement is likely to occur once the corrective phase concludes. The next major movement, Gray Wave 3, is expected to continue the overarching trend once Gray Wave 2 completes its corrective cycle. The analysis highlights the importance of Gray Wave 2, as it will set the stage for the potential upward movement that follows. The critical invalidation level for this wave structure is 0.66237. If the market drops below this level, the current wave count will be considered invalid, necessitating a reevaluation of the Elliott Wave structure. This level serves as a key reference point for confirming whether the ongoing corrective action will hold and whether the trend is likely to resume as anticipated. Summary: The AUDUSD Elliott Wave Analysis for the daily chart indicates that Gray Wave 2 is active following the completion of Gray Wave 1. A corrective phase is underway, and the market is expected to shift into Gray Wave 3, which should result in substantial movement. The invalidation level of 0.66237 remains crucial for validating the wave structure. Australian Dollar/U.S. Dollar (AUDUSD) 4-Hour Chart AUDUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Gray Wave 2 Position: Orange Wave 3 Next Higher Degree Direction: Gray Wave 3 Details: Gray Wave 1 appears to be complete, and Gray Wave 2 is now in progress. Wave Cancel Invalidation Level: 0.66237 The AUDUSD Elliott Wave Analysis for the 4-hour chart indicates that the market is currently in a counter-trend phase, which reflects a temporary correction against the broader trend. The mode of this movement is corrective, suggesting a pullback or pause within the overall trend. The wave structure under analysis is Gray Wave 2, which is developing within the ongoing corrective sequence. At this stage, Gray Wave 1 is considered complete, and the market has now entered Gray Wave 2. According to Elliott Wave Theory, Wave 2 usually represents a retracement or correction after the impulsive move of Wave 1. This corrective phase is typically short-lived before the market resumes its primary trend. Once Gray Wave 2 concludes, the next expected movement is Gray Wave 3. Wave 3 is generally one of the most powerful and extended waves within an Elliott Wave cycle, indicating a strong return to the dominant trend with significant momentum. The critical invalidation level for this analysis is 0.66237. If the market falls below this level, the current Elliott Wave count will be invalidated, requiring a reassessment of the wave structure. This level is key in confirming the continuation of the corrective phase and the eventual transition into Gray Wave 3. Summary: The AUDUSD Elliott Wave Analysis for the 4-hour chart shows that the market is in a corrective phase, with Gray Wave 2 currently in play following the completion of Gray Wave 1. Traders should anticipate the next move to be Gray Wave 3, which will resume the broader trend. The invalidation level of 0.66237 remains a crucial point for confirming the ongoing correction. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here! -
By CryptoChamp · Posted
As of now, Solana is priced at $139.97, reflecting a 4% increase in the last 24 hours. However, concerns linger in the market due to technical analyses pointing towards a bearish sentiment. The token remains 44.48% below its all-time high of $252.12. With mixed signals emerging, this article explores the current market dynamics and drives you to read the detailed Solana price prediction for future insights. Current Market Sentiment Bearish Signals Weighted Sentiment: Data from Santiment shows a notable drop in Solana’s Weighted Sentiment last week, indicating rising bearish sentiment among investors. Trading Volume Decline: The trading volume for Solana has decreased, suggesting that buyers may lack confidence in the current price level. Bullish Indicators Increase in Social Volume: Despite the bearish atmosphere, Solana’s Social Volume has increased, highlighting its growing popularity in the crypto market. Potential Reversal Signs: A price drop accompanied by reduced trading volume often indicates the possibility of a bullish trend reversal, providing hope for investors. Market Neutrality Fear and Greed Index: The current Fear and Greed Index for Solana is at 54%, suggesting a neutral market sentiment. This indicates that the price could move in any direction. Technical Analysis MACD Indicator: The Moving Average Convergence Divergence (MACD) shows a bearish advantage, suggesting that sellers may have the upper hand in the short term. Relative Strength Index (RSI): The RSI has also shown a downtick, confirming a bearish momentum in the market. Expert Opinions Ryan Lee, Chief Research Analyst at Bitget, offers a more optimistic view for October 2024: Network Activity: Lee emphasizes rising activities within the Solana network and important partnerships that may enhance user sentiment. Price Forecast: He predicts SOL could reach the $160-$180 range by the end of the month if the positive trend continues. Support Levels: Historically, the $110 price level has acted as solid support during downturns, including the significant drop in August. On-Chain Data Insights Total Value Locked (TVL): On-chain data from DeFiLlama shows that Solana's TVL surged to $5.5 billion in September, indicating growing institutional interest. Institutional Endorsements: The interest from asset managers like Franklin Templeton and Citibank further strengthens Solana's position in the market. While Solana currently trades at $140, down 5.86% in the last 24 hours, it is still viewed as a strong investment opportunity ahead of a potential market rebound. The upcoming weeks will be critical in determining if SOL can break through key resistance levels and regain its former glory. For a deeper dive into Solana’s potential price movements, don’t miss our detailed Solana price prediction!
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