ADA BreakoutADA has broken out of this falling wedge pattern, I am expecting some more upside to come! IOTA had a similar breakout as well.
Cardanoanalysis
Something about CardanoOn Sunday Cardano did not bring us any good news. It fell bellow the $0.029270. It was trading at 0.029270 by 06:31 (11:31 GMT) on the Investing.com Index, down 4.28% on the day. Unfortunately, it was the largest one-day percentage loss since December 1.
Therefore, this move downwards pushed Cardano's market cap down to $758.94302M, or 0.73% of the total cryptocurrency market cap. At its highest, Cardano's market cap was $23.91700B.
During the last week Cardano lost 5,15% in value. It has traded in a range of $0.0277 to $0.0318 in the past 7 days.
As we do not have any positive announcement about Cardano or any developements were released, and in my opinion it will be traded in a range of $0.028054 to $0.029414 in the upcoming twenty-four hours.
At its current price, Cardano is still down 97.83% from its all-time high of $1.35 set on January 4.
Cardono wanting to reach higher We can see that Cardano's daily candle has failed to close below previous swing low 5 days in a row and it is showing signs of decent bounce. Green block remains to be untested support zone but it looks like it wants to reach the targets marked in red lines
ADA - Resistance wins for now! Cardano tried to continue its run higher but got rejected once more at the supply zone above and came straight down to support dipping inside the demand zone. We have continued to make lower highs past few days and a break of this demand area could lead us back down to retest the breakout zone again around 1160.
MACD still remains flat as we await some type of volatility to reappear and RSI failed to reach resistance and looks to be heading lower as we continued to cool off from that crazy run. Again, just like most altcoins, we are waiting to see if Bitcoin can continue its move higher here taking the market with it or will it dump canceling out all the progress we made all of last week.
Thanks guys!
ADA - Time for a pullback before move higher!!ADA has bounced nicely off the bottom of the channel, which was as the demand area around 1220 and we could now see a pullback to the 61.8%FIB level or to the lower end of the channel again. RSI is nearing resistance but still has some room to move up and MACD has turned bullish so a small pullback is probably what is needed to propel this higher on the next move.
Cardano is finding resistance hear forming a tweezer top so far and it would be better to enter at a lower price to increase R:R. Stops set below SFP on the last move below the support zone.
Thanks guys!
ADA - Looking strong for more UPSIDE! Cardano has bounced nicely yet again from its demand zone around 1220 and is currently facing resistance around its 61.8%FIB level. If it could get above here and close on the 4H, we could see another go at the highs and possibly even break them with the assistance of Bitcoin. Volume does seem to be on the low side but a breakout from here could bring some of it back.
MACD histo is about to go positive and the signal lines and very close to crossing above the median line. RSI is on the move up and still has some room before hitting resistance so this could still have some juice. Waiting for a pullback to the support level could be the safer play here unless BTC decides to rip higher taking the rest of the market with it.
Thanks guys!
ADA - Need more volume to go LONG! As mentioned, ADA needed to cool off after its massive run-up last week and that wedge breakdown has dropped it back to into a demand zone. The 1160 support level has held so far but the volume isn't the best and until we see volume come in, we can't be confident that this demand zone will hold. Stronger zone to enter a long position would be the lower demand level around 1078, which was the breakout zone.
As always, stay safe and thanks guys!
ADA - Time for a pullback but still looking good! Cardano had an amazing run last week hitting all 3 of our targets in quick succession. We have since tapped into the liquidity around the supply zone and failed to close above, which subsequently resulted in a move back to the 61.8%FIB. We are bouncing back at the moment but have broken the trendline, which was respected the whole move up therefore we could possibly see a test of the liquidity above before resuming lower to the next demand area and possibly the 50%FIB. This does have the look of an ascending wedge that has already broken and is in the process of retesting before continuing its mover lower so keep that in mind.
Both RSI and MACD are showing bearish signs, RSI with a lower high and MACD crossing over bearish further indicating a pullback is likely. As such, area marked as demand zones should provide support for Cardano and could be used as areas to scale in long positions while keeping a close eye on Bitcoin.
The severity of any BTC pullback will most likely dictate how long ADA goes so don't be too quick to jump into positions at the first sight of a support touch.
As always, stay safe everyone!
Thanks guys!
ADA - EXTREME gains!!! All 3 targets hit and more!!!!ADA has been on a tear over the past 24H hitting all 3 of our profit targets in quick succession! We have finally reached the 786%FIB level with overhead supply zone potentially cause a pause in this crazy rally. Both RSI and MACD are getting overextended but then again, FOMO is a powerful thing and don't want to go against it. Unless BTC takes a dump here, any sideways or more upward movement could propel ADA and other alts to continued higher prices.
Keep everyone posted in a few hours on this play but great trade overall!!!!!
Thanks guys
Cardano(ADABTC) to continue selling off?Previous post for Cardano (ADABTC) based on its 4hr timeframe made mention of the bullish channel in Cardano (ADABTC) that captured the meandering price action from July 2, 2018.
The 1 hour timeframe of Cardano (ADABTC) is shown in this analysis as opposed to the 4hr in the previous analysis in order to get a better view of price action and the channel.
The horizontal dotted blue lines with price at ~0.00002181 marks the point at which Cardano (ADABTC) closed below the lower line of the bullish channel.
A breakout below the lower line of the bullish channel does imply further bearish action that should see Cardano continue to sell off. A quick and approximate estimate extent of the sell off can be derived by using the width of the channel and subtracting it from the breakout point at ~0.00002181.
[ADABTC +5%] Cardano Spectro™ M Bullish Reversal WarningThis is a signal using Spectro™ M
First be careful, this is the 2nd bounce from a 1st failed reversal attempt, this is a trade I like because the first wave got leveled and now we might see a double bottom giving us a solid and safer entry point.
This is a strong reversal signal since we have every single indicator in Spectro pointing towards the reversal.
The blue background is the trend analyzer telling you that we are entering a reversal zone.
The Specter Clouds™ predicts not only the oversold area but also predicts the sell target, it tells you how far off an organic move we are, so if you measure from where we are now to the top of the green cloud that's our 3.5% target.
As you can see from past trades the clouds can be very precise prediction future price.
The big green triangles mean that Spectro check 20 other indicators and they all agree in a reversal.
The Warning is also turned on, which means a possible direction change.
So pretty much we have all signals that come before the confirmation.
We didn't have any Spectro™ M confirmations yet, but still, this is an asset that you might want to watch closely since Spectro™ M just triggered a bullish reversal alert and the downtrend is almost reversing.
From where we are now to the target we can see a 5% profit, if the small correction goes all the way to the bottom of the double bottom, we can fetch a 7.5% profit.
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Short opportunity after Lower High testCardano complied to the Lower High scenario of the Higher resisting trendline (seen in yellow) and made a Higher Low near 0.24000. Now the underlying bearish trend of the 1D Channel Down (RSI = 43.365, ADX = 35.936) will push for a Lower Low and our target is 0.1443. Eventually a test of the 1W support = 0.1217 has to take place.
Cardano (ADABTC) analysis: Daily tfThe purpose of this post is to have a quick look at the trendline for Cardano (ADABTC). Trendlines are the most important type of chart pattern. The trendline for Cardano (ADABTC) as drawn here on the Daily tf (red color) was breached slightly on May 28, 2018.
Price action recovered right after and is currently attempting to continue its bullish momentum. A break back below the long term trendline could see Cardano sell off to about ~ 0.00000605. Point of entry (POE) for a bullish trade is placed here at ~0.00003023 which is considered a safe point of entry than trying to pick a price bottom which can be very challenging.
More information on Cardano (ADABTC) is present on my website
Clear Channel Down on 4HCardano (ADAUSD) is on a standard 4H Channel Down pattern (RSI 37.879, MACD = -0.010. B/BP = -0.0194) that is now consolidating (Highs/Lows = 0, STOCH = 48.465) the absence of a Lower High. The next Lower Low and our TP is 0.121695, with an extreme extension (based on the previous bearish Fibonacci sequence) at 0.107614. Medium term buyers are advised to start placing long orders strategically between 0.12 and 0.14. Note: there is an extreme scenario for a Higher High on the cross of the 0.256983 Resistance with the Resisting trendline drawn from the 0.389197 Top.
