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By CryptoChamp · Posted
Cardano (ADA) has seen a significant decline in its price, and many investors are starting to question their positions. Let's break down what's happening and whether it's time to rethink holding ADA or focus on Cardano price prediction for potential future growth opportunities. Cardano’s Price Drop Cardano is currently trading at $0.351, which represents a 66.15% drop from its previous high of $0.812. The price decline has left many investors frustrated, especially those who were expecting a strong rebound. Market Sentiment Impact Cardano’s price drop is partly due to broader market conditions where altcoins, in general, have underperformed. The altcoin market has been facing weak development, which has contributed to the poor performance of coins like ADA. Jason Pizzino’s Advice Jason Pizzino, a well-known real estate investor and Bitcoin advocate, recently urged investors to reconsider their altcoin portfolios. According to Pizzino, Bitcoin has surged by 147.58% in the same period that ADA has dropped, making Bitcoin a more attractive option for investors. He labeled altcoins like Cardano as “laggards” that have consistently underperformed compared to Bitcoin. Investors’ Frustration Many investors are disappointed with altcoins, especially those who anticipated price rebounds but have seen continued stagnation. Pizzino questioned whether Cardano could experience significant growth, even doubting a fivefold increase in price for ADA. He also hinted that meme coins might offer better returns than Cardano in the short term. Divided Opinion While Pizzino is clear in his belief that Bitcoin is a superior long-term investment, others in the crypto space disagree. Vandell Aljarah, for instance, argues that altcoins still have the potential to offer high returns in the right market conditions. This leaves investors with a decision: follow Pizzino’s advice or hold out for an altcoin rally. Key Support Levels for Cardano Cardano is facing key resistance at $0.350. If the price doesn’t climb above this level, further declines may follow. Immediate support is at $0.3420, with the next major support at $0.3400. A break below $0.3400 could lead to a test of $0.3220, and possibly $0.3100, where buyers might step in to support the price. -
By tradinglounge · Posted
MCD Elliott Wave Analysis Trading Lounge McDonald’s Corp., (MCD) Daily Chart MCD Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave 1 of (1). DIRECTION: Upside 1. DETAILS: Looking at upside thrust after the bottom in a long lasting correction in Primary wave 4. McDonald’s Corp., (MCD)1H Chart MCD Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave {iii} of 1. DIRECTION: Top in wave {iii}. DETAILS: Digging into the subdivision of Minute wave {iii} as we seem to be having further upside to come, which could potentially end as we hit the middle of MinorGroup1 at 320$. 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* On the daily chart, McDonald’s is currently in Wave 1 of (1), marking the early stages of an impulsive move following the end of a long correction in Primary Wave 4. This correction appears to have bottomed, leading to a strong upside thrust in the new bullish phase. The focus is now on further upside development as the first impulsive wave unfolds. * MCD Elliott Wave Technical Analysis – 1H Chart* On the 1-hour chart, MCD is currently within Wave {iii} of 1, with further upside expected. The subdivision of Minute Wave {iii} indicates that the wave is approaching completion, potentially nearing a top as it reaches the middle of MinorGroup1 at the 320$ level. After this top, a small corrective phase might unfold before further advances within the larger trend. Technical Analyst : Alessio Barretta Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
FTSE 100 Elliott Wave Analysis - Trading Lounge Day Chart FTSE 100 (UK) Elliott Wave Technical Analysis Function: Bullish Trend Mode: Impulsive Structure: Gray wave 3 Position: Orange wave 5 Direction Next Higher Degrees: Gray wave 3 (continue) Details: Gray wave 2 is completed. Now gray wave 3 is in play. Wave cancel/invalidation level: 8,178.07 The FTSE 100 Elliott Wave analysis on the day chart suggests a bullish trend, characterized by an impulsive mode that reflects strong upward momentum. The primary structure in focus is gray wave 3, part of the ongoing upward trend. Currently, the market is positioned within orange wave 5 of gray wave 3, indicating that the market is advancing in the final phase of this wave sequence. The analysis shows that gray wave 2 has been completed, and now gray wave 3 is actively pushing the market higher. The next expected phase is the continuation of gray wave 3, pointing to further upward movement in the near term. This phase will likely continue driving the market upward until a corrective phase begins. The wave structure follows the typical Elliott Wave pattern, where impulsive waves drive the market higher, and corrective waves provide brief pullbacks. The analysis also sets a wave cancellation or invalidation level at 8,178.07. If the market falls below this level, the current Elliott Wave count will be invalidated, necessitating a reassessment of the wave structure. However, as long as the price remains above this threshold, the bullish trend in gray wave 3 is expected to continue. Summary: The FTSE 100 is in a strong bullish phase, with gray wave 3 progressing upward. Orange wave 5 is in play, driving further upward momentum. The invalidation level is set at 8,178.07, with the trend expected to remain intact unless breached. FTSE 100 Elliott Wave Analysis - Trading Lounge Weekly Chart FTSE 100 (UK) Elliott Wave Technical Analysis Function: Bullish Trend Mode: Impulsive Structure: Orange wave 5 Position: Navy blue wave 3 Direction Next Higher Degrees: Orange wave 5 (continue) Details: Orange wave 4 is completed. Now orange wave 5 is in play. Wave cancellation/invalidation level: 7,920.18 The FTSE 100 weekly Elliott Wave analysis indicates that the market is currently following a bullish trend with an impulsive mode, suggesting strong upward momentum. The primary wave structure under focus is orange wave 5, which is part of the larger bullish wave sequence. The market is positioned in navy blue wave 3, indicating the continuation of this bullish trend. Orange wave 4 has been completed, and the market has now entered the next phase: orange wave 5. This wave signifies the continuation of the upward trend, with further gains expected as wave 5 progresses. The analysis highlights that orange wave 5 is actively in play, representing the final leg of this particular wave sequence. As long as the price follows the current wave structure, further upward movement is anticipated. The bullish trend is expected to persist unless the key wave cancellation level is breached. The invalidation level is set at 7,920.18, meaning if the price falls below this level, the current Elliott Wave count would be invalidated, and the market analysis would need to be reassessed. Summary: The FTSE 100 is in a bullish phase, with orange wave 5 in progress, signaling ongoing upward movement. Orange wave 4 is completed, and the market has resumed its bullish trend. The invalidation level is at 7,920.18, with the trend expected to continue unless this level is breached. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!
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Question
Jubnix
Hello,
I am using this GitHub repository to retrieve IG historical data via Python: https://github.com/ig-python/trading-ig
I know it is not provided by IG, but I would like to know its reputation and if it is safe and used by the community.
And many thanks to the developer, by the way!
Thanks!
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6 answers to this question
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