U.S.Dollar/Swiss Franc(USDCHF) Day Chart Elliott Wave Technical Analysis 1 December 23
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By tradinglounge · Posted
USDCAD Elliott Wave Analysis Trading Lounge Day Chart, U.S. Dollar / Canadian Dollar (USDCAD) Day Chart USDCAD Elliott Wave Technical Analysis Function: Trend Mode: Impulsive Structure: Gray Wave 3 Direction Next Lower Degrees: Gray Wave 3 (started) Details: Gray wave 2 appears completed, with gray wave 3 now in progress. Wave Cancel Invalid Level: 1.39456 The daily chart analysis of USDCAD using Elliott Wave Theory shows that the market is currently in an impulsive trend mode, indicating strong price action. The wave structure currently being tracked is gray wave 3, part of an impulsive wave sequence often observed during market trends. Gray wave 2 is considered to have completed, and gray wave 3 has now initiated. Gray wave 3 typically represents the most extended and dynamic phase of the Elliott Wave cycle, signaling a strong continuation in the market's prevailing trend. This wave usually follows a corrective phase, indicating that the market is poised for a more forceful move either upward or downward, depending on the overall trend. In this scenario, gray wave 3 has already begun, suggesting that USDCAD is likely to experience a strong price movement aligned with the trend. Both the higher and lower degrees are also moving within gray wave 3, showing that multiple time frames are in alignment. This convergence strengthens the confidence in the ongoing trend, increasing the likelihood that it will persist. An invalidation level has been set at 1.39456, meaning if the price falls below this point, the current wave structure would be considered invalid. In such a case, traders may need to reassess the wave count and adjust their trading strategy accordingly. In summary, USDCAD is in gray wave 3 of an impulsive trend on the daily chart. The trend is expected to continue robustly, with the invalidation level marked at 1.39456. A break below this level would necessitate a reevaluation of the wave count. U.S. Dollar / Canadian Dollar (USDCAD) 4-Hour Chart USDCAD Elliott Wave Technical Analysis Function: Trend Mode: Impulsive Structure: Gray Wave 3 Direction Next Lower Degrees: Gray Wave 3 (started) Details: Gray wave 2 appears completed, and gray wave 3 is now in progress. Wave Cancel Invalid Level: 1.39456 The Elliott Wave analysis of the USDCAD 4-hour chart suggests that the market is currently in an impulsive mode, indicating a strong continuation of the trend. The wave structure being tracked is gray wave 3, which marks the beginning of an aggressive move, either upwards or downwards. With gray wave 2 now completed, the market has exited the corrective phase and is advancing into gray wave 3. Gray wave 3 is recognized for its sharp, rapid movements and often represents the most powerful part of the Elliott Wave cycle. As the wave in play, it indicates that USDCAD is in a strong trend, whether to the upside or downside, depending on the overall market direction. The analysis confirms that gray wave 3 has already begun, signaling the impulsive nature of the current market condition. Traders should anticipate further price acceleration in the direction of the trend during this phase. The lower degree wave is also in gray wave 3, reinforcing the strength of the ongoing trend. The invalidation level for this wave is set at 1.39456. If the price falls below this level, the current wave structure would be invalid, which may indicate a potential trend reversal or a need to reassess the wave count. In summary, USDCAD is in the impulsive phase of gray wave 3, following the completion of gray wave 2. The market is expected to maintain its strong trend, with the invalidation level set at 1.39456, beyond which the current Elliott Wave analysis may no longer hold. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here! -
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By CryptoSaint · Posted
Cardano (ADA) has been a hot topic among crypto enthusiasts, especially with predictions that it could hit $10 in the next bull run. Let’s take a closer look at the numbers, the current market situation, and what experts are saying about ADA’s future potential. Current Cardano (ADA) Price and Market Performance Current Price: Cardano ADA is currently priced at $0.33 per Coinpedia Markets. 24-Hour Performance: In the last 24 hours, ADA has dropped by 5.30%, with a trading volume of $314,728,694. Weekly Growth: Despite the recent dip, ADA has spiked over 5% in the past week. Price Targets and Key Levels Experts believe Cardano has the potential for a significant rally. Here’s a breakdown of the key levels to watch: Immediate Resistance: ADA needs to break above the $0.3458 resistance level for any upward momentum. Short-Term Target: If ADA can push through $0.3458, it could rally past the $0.50 mark. Bullish Potential: Price action experts say ADA could even reach $1.50 before November if the momentum continues. Long-Term Target: Looking ahead, some believe ADA could hit $10 during the next major bull run. What’s Fueling This Optimism? The Cardano ecosystem has been buzzing with activity. One recent development that could drive ADA’s growth is the launch of a highly anticipated decentralized application (dApp) called Snake.Fun. This dApp is expected to boost the Cardano network’s usage, leading to higher trading volumes for ADA. Analysts from the DeFi sector are optimistic, stating that if Cardano maintains its current growth trajectory, the $10 price target could be achievable in the long term. The Market Share Debate: Has Cardano Bottomed Out? Rick McCracken, a key figure in the Cardano community, recently sparked a debate by asking his followers about ADA’s market share dominance. Here’s what we know: ADA’s Market Share: For the last two months (since July), Cardano’s market share has stabilized at 0.6%. Community Opinions: Some community members believe ADA has bottomed out, signaling a potential rebound. Others are more cautious, suggesting that ADA needs to grow and retest the 0.77% level to confirm a bottom. Despite the mixed opinions, there’s a sense of cautious optimism among ADA holders. Even Rick McCracken himself believes that the next bull market could change the game for Cardano. What’s Next for Cardano? The future looks promising, but ADA still has some hurdles to clear. Breaking above the $0.3458 resistance level is key for any sustained upward movement. If that happens, a rally toward $1.50 could be on the horizon before the year ends. However, the real question remains: Can Cardano (ADA) reach $10 in the next bull run? While the answer isn’t set in stone, the current growth within the ecosystem, along with the market’s cautious optimism, suggests that it’s a possibility worth considering. Conclusion: Is $10 Achievable? The journey to $10 won’t be easy, but it’s not out of the question. If Cardano can break through key resistance levels and continue to grow its ecosystem, the next bull run could push ADA to new heights. For now, keep an eye on the charts and watch for signs of a breakout above $0.3458—if that happens, Cardano’s rally could just be getting started.
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