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AlanSantana
Nov 17, 2021 9:45 AM

Cardano Prepares For Correction (20% to 38%) Short

KRAKEN:ADAUSD1D
Cardano / U. S. DollarKraken

Description

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Looks like Cardano (ADAUSD) is also on the bearish path and a strong correction likely to form.

It has already moved below MA200.
The last support is set at $1.81.

Below this level, we can see additional 20% to 35%+ drop.

All the weak hands will be removed.
We become stronger after the correction.

Thank you for reading.

Namaste.

Comment

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This one is also going perfectly as charted.
Enjoy.

Trade closed: target reached

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Just a little longer and we hit our target.
Trend AnalysisTechnical IndicatorsBeyond Technical AnalysiscardanoADAadausdaltcoinscryptoCryptocurrency
Comments
FX_Achilles
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for me 1.7_1.8 is the max correction price and we'll see a sharp ascending run
AlanSantana
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@sdofficial1992, Not really, it can go much lower as you mapped on the chart. I would say $1.46/$1.47 in the least.
Niker37
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Lol doesn’t make sense, check btc pairs. Your analysis is like saying 69k BTC back to 25k doesn’t make any sense.
AlanSantana
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@Niker37, This is Cardano (ADAUSD) not Bitcoin.
funkyZebra
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Do you think ADA/USD has more correction to go? ADA/BTC keeps bleeding, not great but still holding.
Forevergrateful
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@AlanSantana any idea if you think ADAUSD will reach back over $2 anytime soon?
sebtro
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Thank you for your non biased analysis. I'd like to know how long you think the correction will last?
AlanSantana
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@sebtro, No clue but I can make a guess... Maybe around mid Dec.

I normally don't try and predict timing as it is really difficult. I only read the direction.
sebtro
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@AlanSantana, Thanks for your insights, they've been really helpful for a starter like me.
AlanSantana
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@sebtro, I am glad to be of help.

Thanks for your support.
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