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By CryptoChamp · Posted
Cardano (ADA) is one of the most talked-about cryptocurrencies, with its price currently sitting at $0.3556. But what does the future hold for ADA? Let’s break down the key predictions and market developments in this ADA price prediction article. Optimistic Price Predictions Potential Rise to $1 by 2024: Some analysts are predicting that Cardano could reach $1 by the end of 2024, showing strong potential for growth. 17% Gain Predicted by November: CoinCodex forecasts that ADA could rise by 17% and hit $0.4249 by November 6, 2024. This is backed by the fact that 63% of the past month’s trading days were "green," signaling positive market momentum. Concerns and Bearish Predictions Max Keiser's Bold Prediction: Max Keiser stirred controversy with his prediction that ADA could lose 90% of its value compared to Bitcoin in the next six months. This pessimistic outlook has raised concerns among investors. Price Volatility: Over the last six months, Cardano’s price has dropped by 39.93%, reflecting significant volatility. However, if bulls manage to push the price above $0.43, ADA could see a rise to $0.49, an increase of 25%. Community and Rumors Charles Hoskinson Denies Rumors: Recently, rumors surfaced that Cardano’s founder, Charles Hoskinson, sold 1 billion ADA during the last bull market. Hoskinson quickly shot down the speculation, calling it false and stating, “It didn’t happen. People just lie. It’s how the internet works now.” Generosity Joke Gone Wrong: The rumors began when Cardano supporter Jason Appleton jokingly asked if a helicopter seen in a Fox News clip belonged to Hoskinson, hinting at the costs of his charitable efforts. This comment spiraled into baseless claims that Hoskinson had cashed out during ADA’s peak price of $3.60. Future Developments and Roadmap Leios Upgrade: Cardano’s new roadmap includes the Leios upgrade, which will greatly improve the network’s scalability. This could attract more users and enhance ADA’s long-term potential. Large Transactions Spike: In September 2024, Cardano saw a spike in large transactions, with a monthly high of 5,070 transactions. This indicates growing interest in the platform, despite recent price fluctuations. While the short-term future of Cardano remains uncertain, its strong community and upcoming developments offer reasons for optimism. Investors will need to keep a close eye on ADA’s price movements and the broader market trends as we head into 2024. -
By tradinglounge · Posted
Gold Elliott Wave Analysis Gold has completed the pullback from late September and is now in recovery toward another high as the all-time bullish impulse cycle continues. In the short term, further rallies are expected while pullbacks are expected to end above the 10-October low. Daily Chart Analysis From an Elliott wave perspective, the daily chart shows that Gold initiated a cycle degree impulse wave sequence in October 2022. Waves I and II of this sequence concluded in May 2023 and October 2023, respectively. Currently, the metal is in the third wave, and within it, wave III appears incomplete. Specifically, Gold is in wave 5 of (3) of 3 (circled) of III, indicating that there is significant upside potential remaining. This suggests that Gold's bullish trend is far from over, and traders should be vigilant for potential pullbacks, which could offer attractive buying opportunities as the upward trend resumes. H4 Chart Analysis On the H4 chart, the price completed wave iv of (iii) and is now upside in wave v of (iii) of ((iii)). By projection, wave (iii) could extend to 2767 before the next pullback in wave (iv) of ((iii)) begins. Traders should focus on the buy side of this market and find entries from pullbacks. Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
BRITANNIA INDUSTRIES – BRITANNIA (1D Chart) Elliott Wave Technical Analysis Function: Larger Degree Trend Higher (Intermediate degree, orange.) Mode: Motive Structure: Impulse/Diagonal Position: Minute Wave ((iv)) Details: Minute Wave ((iv)) Navy might be unfolding within Minor Wave 3 of Intermediate Wave (5) against 5950. Invalidation point: 5730 Britannia Industries Daily Chart Technical Analysis and potential Elliott Wave Counts Britannia Industries daily chart is indicating a progressive rally, which could be unfolding Minor Wave 3 Grey, within Intermediate Wave (5) Orange towards 7050 at least and up to 8000 levels going forward. The stock should ideally stay above 5730-40 range to keep the bullish structure intact. Britannia Industries has been rallying since November 2023 after printing lows around 4300-50 range, terminating Intermediate Wave (4) Orange. Furthermore, Minor Waves 1 and 2 Grey seems to have terminated around 5170 and 4650 levels respectively. Minor Wave 3 Grey has been unfolding against 4650 mark and is sub dividing within a potential impulse. Minute Waves ((i)) through ((iv)) might be complete and Minute Wave ((v)) might be underway higher soon. The stock should hold above 5740 mark for impulse to complete. BRITANNIA INDUSTRIES – BRITANNIA (4H Chart) Elliott Wave Technical Analysis Function: Larger Degree Trend Higher (Intermediate degree, orange.) Mode: Motive Structure: Impulse/Diagonal Position: Minute Wave ((iv)) Details: Minute Wave ((iv)) Navy might be unfolding or near to complete within Minor Wave 3 of Intermediate Wave (5) against 5730. If correct, Minute Wave ((v)) could resume higher towards 7060. Invalidation point: 5730 Britannia Industries 4H Chart Technical Analysis and potential Elliott Wave Counts: Britannia Industries 4H chart is indicative of potential Minute Wave ((v)) Navy complete around 5910 mark at the time of writing. If correct, the stock should progress higher from here, as Minute Wave (v) of Minor Wave 3 resumes. Conclusion: Britannia Industries could be ready to push higher from 5910 lows print on October 14, 2024; as minute Wave ((v)) of Minor Wave 3 Grey begin to unfold. Elliott Wave Analyst: Harsh Japee Source : Tradinglounge.com get trial here!
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