Cardano
ADAUSD: Cardano looking for a reversal1/ form a base, could be equal lows or higher lows or lower lows, honestly, it doesn't matter as long as we tag the 50% Fib at $1.469.
2/ short-term targets: rally higher to tag $1.641, $1.741.
3/ mid-term targets: collect buy stops at $1.889.
As always,
Leave your thoughts in the comments!
Feedback or questions are appreciated.
DYOR
Not Financial Advice (FA)
💡Don't miss the great buy opportunity in ADAUSD @Cardano
Trading suggestion:
". There is a possibility of temporary retracement to the suggested support line (1.6461).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. ADAUSD is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 64
Take Profits:
TP1= @ 1.8731
TP2= @ 2.0190
TP3= @ 2.1452
TP4= @ 2.2635
TP5= @ 2.4377
SL= Break below S2
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Cardano Millionaire Club Grows as With Significant Rise in ADA According to data from crypto intelligence platform CoinMetrics, wallets holding ADA with a value of at least $1 million increased by 1,231 percent from 504 to 6,710 between January 1 and May 17, 2021.
The millionaire investors have emerged at a time when ADA is still capturing the attention of the crypto world, has reached an all-time high of $2.4 on May 16th. The price of ADA has increased by more than 1,000% year-to-date. At the same time, global interest in Cardano news peaked recently on Google Trends.
Furthermore, between January 1 and April 28, 2021, the number of ADA active addresses increased by 417.81%, while the number of transactions increased by 382.84%.
Cardano is benefiting from good news from Input Out Hong Kong, or IOHK, in addition to having one of the most devoted cryptocurrency groups in the industry. The Alonzo update is being progressively introduced to the mainnet in May and June, according to the smart contract platform’s growth arm.
Source : Coinpedia
How to Draw Fibonacci Channels
Fibonacci Channels are used to determine fibonacci support and resistance levels within an identified trend.
These channels can easily be drawn in both uptrends or downtrends to find potential areas where price action could change.
Uptrend
When drawing a Fibonacci Channel on an uptrend, a clearly identified trend needs to be established with higher lows being created.
To draw the channel, first select the two low points on the trend, and then the high point in-between them.
After the channel is drawn, the Fibonacci levels calculated can be used to help speculate price action by watching these areas as support or resistance.
Downtrend
When drawing a Fibonacci Channel on a downtrend, a clearly identified trend needs to be established with lower highs being created.
To draw the channel, first select the two high points determined by the trend, and then the low point in-between them as shown below.
Do you use Fib Channels?
If so, share your ideas in the comments below!
💡Don't miss the great buy opportunity in ADAUSD". There is a possibility of temporary retracement to suggested support line (1.5369).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. ADAUSD is in a uptrend and the continuation of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 75.
Take Profits:
TP1= @ 1.6900
TP2= @ 1.7900
TP3= @ 1.9900
TP4= @ 2.1600
TP5= @ 2.3900
SL= Break below S2
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Ada breaking out of All Time High🚀Hello Guys
As we can see price was constantly moving in a Acending Triangle near its ATH. Now price is breaking out, So we can make an entry here.
- Wait for the Breakout Candle close above the Resistance Line.
- Put your Stop Loss below the breakout Candle with proper Risk Management.
- Trail the Position with Trailing Stop Loss.
Happy Trading
ADA Accumulation Zones (potential 2x pump incoming)ADA has been holding back from a long time. I think this is because we are currently in an accumulation zone and this graph might possibly indicate be that zone.
The first accumulation zone of ADA that lasted from 23rd Dec to 6th Feb, a total of 45 days.
In both the zones, after we broke out of the first zone, we made a 3x gains. And the first accumulation zone lasted for 45 days, and this 2nd zone might last for 60 days from 15th Feb to 15th April. Now, to be fair I am not expecting a 3x gains this time, but I am expecting another 2x gains to maybe 2.5usd price target for ADA within the next couple of weeks.
💡Don't miss the great buy opportunity in ADAUSDT @CardanoTrading suggestion:
There is a possibility of temporary retracement to the suggested support line (1.0620).
. If so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. ADAUSDT is in an uptrend, and the continuation of the uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 47.
Take Profits:
TP1= @ 1.2485
TP2= @ 1.3400
TP3= @ 1.4600
TP4= @ 1.6770
TP5= @ 1.8350
SL= Break below S2
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ADA Price Predicted April 2021Ada which is known as Cardano recently listed on Coinbase......And We have seen 10-15% increment.
When we talk about future of Cardano it can reach 5$ Till the end of new month.
How it can reach 5$??
Because of its good projects plan in the march and april. Their are more than 10+ projects in the month of April. This is the reason.
You can consider buying at your own risk.
Crypto currency is subjected to market risk. Invest at your own risk.