DAX (Germany) Index Elliott Wave Technical Analysis
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By CryptoChamp · Posted
As of now, Cardano (ADA) is priced at $0.3357. Despite recent challenges, experts believe the cryptocurrency has strong potential. According to their ADA price prediction, it could rise to $1 by the end of 2024 and reach an astonishing $10.32 by 2030. Recent Trading Performance Cardano has been trading lower than its earlier highs in 2024, with a recent closing price of $0.33. Fortunately, it has strong support at $0.20, which has helped prevent further declines. In the last few weeks, ADA saw a 5% increase since September. However, it experienced a 2.4% drop recently, partly due to large investors selling their holdings amid rising geopolitical tensions. Technical Analysis Technical indicators show a weakening bullish momentum for Cardano. Resistance has formed around the $0.40 mark, leading to a potential short-term pullback. Despite this bearish sentiment, a bullish breakout from a falling channel pattern has seen ADA rise 4.65% in the last 24 hours, breaking through the $0.35 resistance level. Future Predictions Looking ahead, analysts believe Cardano’s price could steadily rise to $0.81 by 2025. If this bullish trend continues, ADA might challenge the $0.489 Fibonacci level. While market volatility remains, this current consolidation phase could set the stage for significant gains in the future. In summary, despite recent fluctuations, the outlook for Cardano (ADA) remains positive. With strong support and potential for growth, investors will be watching closely to see how this cryptocurrency develops in the coming months. -
By tradinglounge · Posted
SUN PHARMACEUTICALS – SUNPHARMA (1D Chart) Elliott Wave Technical Analysis Function: Larger Degree Trend Higher (Intermediate Degree orange) Mode: Motive Structure: Impulse Position: Minute Wave ((v)) Navy Details: Minute Wave ((v)) of Minor Wave 3 Grey might be complete around 1950-75 range. Please note that 2000 mark is major resistance. Alternatively Minor Waves 3, 4 and 5 could be complete as marked, and a larger degree corrective wave could resume soon. Invalidation point: 1830 risk tightened Sun Pharmaceuticals Daily Chart Technical Analysis and potential Elliott Wave Counts Sun Pharmaceuticals daily chart is suggesting Minor Wave 3 Grey might be complete around 1975-80 zone or near to completion. If correct, expect a turn lower to unfold Minor Wave 4 towards 1380 at least. Alternatively, Minor Waves 3, 4 and 5 are now complete and the stock is ready for a much deeper correction. The stock bottomed around 790 low in June 2022, terminating Intermediate Wave (4) Orange. The rally since then has potentially sub divided into 3 waves with Minor Wave 3 and Minute Wave ((iii)) extended. Minute Wave ((iv)) of 3 terminated around 1380 on June 0, 2024. Minute Wave ((v)) of 3 has been unfolding against 1380 mark and looks complete just below the 2000 mark. If the above proposed wave counts hold well, we should witness a corrective drop as Minor Wave 4 begins to unfold. We will highlight the alternate count with respect to price action going forward. SUN PHARMACEUTICALS – SUNPHARMA (4H Chart) Elliott Wave Technical Analysis Function: Larger Degree Trend Higher (Intermediate Degree orange) Mode: Motive Structure: Impulse Position: Minute Wave ((v)) Navy Details: Minute Wave ((v)) of Minor Wave 3 Grey might be complete around 1950-75 range. Please note that 2000 mark is major resistance. Alternatively Minor Waves 3, 4 and 5 could be complete as marked on the daily chart, and a larger degree corrective wave could resume soon. Invalidation point: 1830 risk tightened Sun Pharmaceuticals 4H Chart Technical Analysis and potential Elliott Wave Counts: Sun Pharmaceuticals 4H chart primarily highlights the sub waves since Minute Wave ((iv)) of Minor Wave 3 terminated around 1380 mark. High probability remains that Minor Wave 3 Grey is complete around 1975-80 as bears prepare to drag lower soon. Conclusion: Sun Pharmaceuticals has potentially terminated Minor Wave 3 Grey with Intermediate Wave (5) Orange around 1975-80. Watch out for a corrective drop as Minor Wave 4 should be underway soon. Elliott Wave Analyst: Harsh Japee Source : Tradinglounge.com get trial here!
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