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Cardano Crypto Price News Today Elliott Wave Technical Analysis


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Elliott Wave Analysis TradingLounge Daily Chart,

Cardano/ U.S. dollar(ADAUSD)

ADAUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Double Corrective

position: Wave Y

Direction Next higher Degrees: wave (II)

Wave Cancel invalid level:

Details: The decline of wave Y is likely to end and the price is re-entering the uptrend.

Cardano/ U.S. dollar(ADAUSD)Trading Strategy:

Cadarno's outlook looks like the Wave 1 rally is likely to end. The price is entering a correction in Wave 2, likely to test the 61.8%(0.365) level of Wave 1 before rising again in Wave 3, so wait for the correction to complete for an opportunity to join the trend again.

Cardano/ U.S. dollar(ADAUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bearish Momentum.

Crypto24.thumb.png.140deef60a9d86214b4d654ecff4907a.png

 

Elliott Wave Analysis TradingLounge H4 Chart,

Cardano/ U.S. dollar(ADAUSD)

ADAUSD Elliott Wave Technical Analysis 

Function: Counter Trend

Mode: Corrective

Structure: Zigzag

position: Wave B

Direction Next higher Degrees: Wave (2) of Impulse

Wave Cancel invalid level:

Details: Wave (2) is likely to retrace the 61.8% level of wave (1)

Cardano/ U.S. dollar(ADAUSD)Trading Strategy:

Cadarno's outlook looks like the Wave 1 rally is likely to end. The price is entering a correction in Wave 2, likely to test the 61.8%(0.365) level of Wave 1 before rising again in Wave 3, so wait for the correction to complete for an opportunity to join the trend again.

Cardano/ U.S. dollar(ADAUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bearish Momentum.

Crypto24(1).thumb.png.eca0c3bb027e693536de6adbf9cbdfb0.png

 

Technical Analyst Kittiampon Somboonsod

Source : Tradinglounge.com get trial here!

 

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