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By tradinglounge · Posted
ASX: CAR GROUP LIMITED – CAR Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) CAR GROUP LIMITED – CAR. We see CAR.ASX pushing higher, but it will take some time until the wave count reaches its highest probability through enough price action evidence. ASX: CAR GROUP LIMITED – CAR 1D Chart (Semilog Scale) Analysis Function: Major trend (Minor degree, gray) Mode: Motive Structure: Impulse Position: Wave (iii)-orange of Wave ((v))-navy Details: Wave (iii)-orange is unfolding to push higher, towards the nearest target at 40.00 - 41.00. Some signs have been suggesting that the ALT wave count scenario, which suggests that the entire wave (ii)-orange will last longer than expected, is starting to gain weight. Invalidation point: 36.16 ASX: CAR GROUP LIMITED – CAR 4-Hour Chart Analysis Function: Major trend (Minute degree, navy) Mode: Motive Structure: Impulse Position: Wave (iii)-orange of Wave ((v))-navy Details: Looking closer, wave (i)-orange has ended, and wave (ii)-orange looks like it has too. Wave (iii)-orange may be starting to unfold to push higher, but that is uncertain. I see quite a bit of weakness in this wave count, and the instability of the structure also suggests that wave (ii)-orange may be extending longer than expected. So, I think we should wait patiently for a bit more time for things to clear up, then we will join this trend later. Invalidation point: 36.16 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: CAR GROUP LIMITED – CAR aim to provide readers with insights into the current market trends and how to capitalize on them effectively. We offer specific price points that act as validation or invalidation signals for our wave count, enhancing the confidence in our perspective. By combining these factors, we strive to offer readers the most objective and professional perspective on market trends. Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation). Source : Tradinglounge.com get trial here! -
By CryptoChamp · Posted
Ethereum’s price has been showing signs of weakness recently, with the price now trading below $2,425 as per Coinpedia Markets. Here’s a breakdown of the latest price action and what could happen next in the ETH price prediction. Bearish Momentum Below $2,425 Price Decline: Ethereum sharply dropped after breaking the key $2,440 support level. This triggered a decline on an intraday basis, with the next potential downside targets at $2,305 and $2,235. EMA50 Support: Ethereum is trading below the 50-day Exponential Moving Average (EMA50), which signals continued bearish momentum. Possible Recovery Scenarios Resistance at $2,445: A breach of $2,445 could halt the current decline. If this happens, Ethereum might stage a recovery and target $2,570 followed by $2,623.77 in the near term. Trading Range: The expected trading range for today is between $2,270 (support) and $2,510 (resistance). Vitalik Buterin's Nobel Prize Speculation Nobel Prize Buzz: Economics professors Alex Tabarrok and Tyler Cowen recently discussed the possibility of Ethereum co-founder Vitalik Buterin winning the Nobel Prize in Economics on October 14. They praised Buterin’s role in creating Ethereum and influencing modern monetary economics. Potential Price Rally: Although unlikely, if Buterin does win the award, it could spark renewed interest and a rally in Ethereum’s price. Market Sentiment and Exchange Reserves Selling Pressure: According to CryptoQuant, Ethereum has been posting net inflows on exchanges since October 5, indicating strong selling pressure among investors. ETF Outflows: Ethereum exchange-traded funds (ETFs) saw $8.1 million in net outflows earlier this week, adding further downward pressure to the price. Ethereum’s price is at a critical point, with bearish trends dominating the market. However, a break above $2,445 could signal a potential recovery. Keep an eye on key resistance levels and the Nobel Prize announcement, as both could impact the Ethereum price prediction and market outlook. -
By tradinglounge · Posted
Elliott Wave Analysis TradingLounge Daily Chart, Dogecoin/ U.S. dollar(DOGEUSD) Function: Counter trend Mode: Corrective Structure: Double Corrective Position: Wave Y Direction Next higher Degrees: wave (II) of Impulse Wave Cancel invalid Level: Details: Wave (II) may not be complete, price is likely to be below 0.076 Dogecoin/ U.S. dollar(DOGEUSD)Trading Strategy: This is a 5 wave retracement of wave (C), where we are in the final stages of wave Y, which is likely to test the 0.076 level, so the overall picture is a short term retracement before another rally. Dogecoin/ U.S. dollar(DOGEUSD)Technical Indicators: The price is below the MA200 indicating a Downtrend, The Wave Oscillator is a Bearish Momentum. Dogecoin/ U.S. dollar(DOGEUSD) Function: Counter trend Mode: Corrective Structure: Double Corrective Position: Wave Y Direction Next higher Degrees: wave (II) of Impulse Wave Cancel invalid Level: Details: Wave (II) may not be complete, price is likely to be below 0.076 Dogecoin/ U.S. dollar(DOGEUSD)Trading Strategy: This is a 5 wave retracement of wave (C), where we are in the final stages of wave Y, which is likely to test the 0.076 level, so the overall picture is a short term retracement before another rally. Dogecoin/ U.S. dollar(DOGEUSD)Technical Indicators: The price is below the MA200 indicating Downtrend, The Wave Oscillator is a Bearish Momentum. Technical Analyst : Kittiampon Somboonsod Source : Tradinglounge.com get trial here!
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