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By CryptoChamp · Posted
The ADA price has slipped into the red zone, currently trading below the crucial $1.20 level despite a weekly gain of over 15%. While the Cardano coin shows no immediate signs of bullish momentum, analysts remain optimistic about its potential upside. Short-Term ADA Price Prediction On smaller time frames, the ADA coin faces a pullback scenario. Key support levels lie between $1.11 and $1.21, with further downside risks if the price of Cardano drops below $1.05. However, if ADA coin regains traction, it could target $1.42, $1.72, and even $2.36 during a euphoric rally. Bitcoin’s Role in Cardano’s Future With Bitcoin’s dominance rising, Cardano crypto has been moving sideways. If Bitcoin consolidates above $100K, altcoins like ADA may rally. Such a scenario could see the Cardano price soaring to $2, a 33% rise from the current levels. Whale Activity and Long-Term Cardano Prediction Crypto whales recently accumulated over 100 million ADA, pushing the Cardano ADA price higher. Market experts foresee ADA forming a textbook ascending triangle pattern, potentially driving the Cardano crypto price to $1.50. Long-term Cardano predictions remain bullish, with some analysts eyeing a parabolic rise to $10 by 2025. Also Read: Optimism Price Prediction 2024, 2025, 2030 Cardano Price Outlook The Cardano price prediction 2024 suggests significant upside potential if ADA maintains its current structure. Traders should watch for breakouts above $1.25 and $1.33 to confirm bullish momentum. -
By tradinglounge · Posted
MCD Elliott Wave Analysis Trading Lounge McDonald’s Corp., (MCD) Daily Chart MCD Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave {v} of 1. DIRECTION: Upside in wave {v}. DETAILS: We are looking for a top in wave 1 of (1) or what could also easily be wave (1) of Primary 5 as we have been trading around TradingLevel3 at 300$. McDonald’s Corp., (MCD) 1H Chart MCD Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave (iii) of {v}. DIRECTION: Upside in wave (iii). DETAILS: Looking for upside into wave (iii) as we approach once again 300$. Ideally looking for a classic trading level around 300$ to then confirm the long position towards ATH. This analysis of McDonald’s Corp., (MCD) focuses on both the daily and 1-hour charts, using the Elliott Wave Theory to assess current market trends and forecast future price movements. * MCD Elliott Wave Technical Analysis – Daily Chart* MCD is advancing within wave {v} of wave 1 (or potentially wave (1) of Primary 5), as it trades around the significant resistance level at $300, which corresponds to TradingLevel3. This area is critical, as it could mark the completion of this impulsive wave or set up for the next phase in a larger bullish structure. A potential top formation around this level could indicate either the completion of wave 1 or an extended move higher in Primary wave 5. * MCD Elliott Wave Technical Analysis – 1H Chart* On the 1-hour chart, MCD is progressing in wave (iii) of {v}, with a clear upside momentum as it approaches the key $300 mark once again. The current price action suggests that MCD is likely to continue higher in wave (iii), and a decisive break above $300 would confirm the bullish case, with potential targets towards an All-Time High (ATH). Technical Analyst : Alessio Barretta Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
Bovespa Index Elliott Wave Analysis - Trading Lounge Day Chart Bovespa Index Elliott Wave Technical Analysis Function: Bullish Trend Mode: Impulsive Structure: Orange Wave 1 Position: Navy Blue Wave 3 Direction Next Higher Degrees: Orange Wave 1 (Initiated) Details: Navy Blue Wave 2 appears complete; Orange Wave 1 of Navy Blue Wave 3 is underway. Analysis Overview The Bovespa Index daily chart provides a detailed Elliott Wave analysis, indicating a bullish trend. The current wave structure is identified as Orange Wave 1, forming part of an impulsive sequence within Navy Blue Wave 3. This development signals the continuation of an upward movement in the broader market trend. The analysis indicates that Navy Blue Wave 2 has likely concluded, ushering in Orange Wave 1 within Navy Blue Wave 3. This aligns with Elliott Wave Theory, which identifies wave patterns to forecast market behavior. The ongoing Orange Wave 1 marks the early phase of the impulsive sequence, reflecting robust bullish momentum. Insights for Traders The market's upward trajectory is clearly highlighted in this analysis, offering valuable insights into the continuation of the bullish phase. Traders can leverage this framework to better understand the current wave structure and position themselves for potential gains as the impulsive sequence unfolds. Bovespa Index Elliott Wave Analysis - Trading Lounge Weekly Chart Bovespa Index Elliott Wave Technical Analysis Function: Bullish Trend Mode: Impulsive Structure: Navy Blue Wave 3 Position: Gray Wave 3 Direction Next Higher Degrees: Navy Blue Wave 3 (Initiated) Details: Navy Blue Wave 2 appears complete; Navy Blue Wave 3 is now active. Wave Cancel Invalid Level: 96,820.96 Analysis Overview The Bovespa Index weekly chart delivers an Elliott Wave analysis highlighting a bullish trend. The wave structure is defined as Navy Blue Wave 3, forming part of a broader impulsive sequence. Within this pattern, Gray Wave 3 is currently advancing, reflecting continued upward momentum in the market. The analysis indicates that Navy Blue Wave 2 has likely concluded, allowing the progression into Navy Blue Wave 3. This aligns with Elliott Wave Theory, which identifies impulsive waves as key drivers of market trends. The development of Navy Blue Wave 3 signifies a strong bullish phase, with significant potential for further upward movement. Key Levels and Considerations An invalidation point for this wave count is established at 96,820.96. Should the market drop below this level, the current wave structure would require reassessment, potentially signaling a deviation from the expected bullish trend. Insights for Traders This analysis provides a detailed perspective on the ongoing impulsive phase, emphasizing critical levels and directional trends. Traders can utilize this framework to navigate the continuation of the bullish momentum. The behavior within Navy Blue Wave 3 suggests further market gains as the impulsive sequence unfolds. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!
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