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Cardano / U.S.dollar(ADAUSD) ADAUSD Elliott Wave Technical Analysis 9 January 23


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Elliott Wave Analysis TradingLounge

 Daily Chart, 9 January 2023,

Cardano / U.S.dollar(ADAUSD) ADAUSD Elliott Wave Technical Analysis

Function: Follow trend Mode: Motive Structure: Impulse Position: Wave V Direction Next higher Degrees: wave V of Motive Details: Wave V is likely to end at level 0.2390 and the price is turning into an uptrend again.

 Wave Cancel invalid level: 0.2390

Cardano / U.S.dollar(ADAUSD) Trading Strategy: Cardano is still under selling pressure as it is still below the MA200, but the price has recovered well from the 0.2390 level and a bullish divergence from the Wave Oscillator gives the trend a chance to reverse upwards again.

Cardano / U.S. dollar (ADAUSD)Technical Indicators: The price is below the MA200 indicating a downtrend. bullish divergence from the Wave Oscillator gives the trend a chance

TradingLounge Analyst: Kittiampon Somboonsod

 

1653036542_ADAday.thumb.png.10ada0c27fe909c4d7dc1267d0430802.png

 

Elliott Wave Analysis TradingLounge 4H Chart, 9 January 2023, Cardano / U.S.dollar(ADAUSD) ADAUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave (3) Direction Next higher Degrees: wave (1) of Motive Details: wave (3) is usually the same length as 1.618 or 2.618 x Wave (1) Wave Cancel invalid level: 0.2390

1216956463_ADAh4.thumb.png.70da45f829668192c35bac452f816df1.png

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