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ADAETH trade ideas

ADAETH Possible scenarios - Bullish and BearishRight, so as we enter the new highs on ADA, I want to clarify that there are still concerns on the ADAETH pair. We want to see a break out of this descending wedge, which is usually common. Some things I want to point out- Bearish perspective: - If we see a break downwards, following the two curved black paths, bouncing between the wedge squeeze, then we may have a break downwards, and this might set us down to the pervious consolidation zones of this pair as marked by the RED path. Bullish perspective: - There is a large cup and handle at play (Dotted black curved line), which is actually forming the handle of the pair since 2018 and before. This is an incredibly bullish perspective, and a break from this would be new ATH for both pairs, and an indication that ADA will outperform ETH. However, let's keep this a little modest. - Green horizontal line is indicating the break zone of an INVERSE head & shoulder at play. I have circled the areas in green, as left, head, and right. This has not played out yet, but it is a possible play. If it does form this, we will wait for the break to the green horizontal line. - The most obvious and humble play here is the descending wedge, this is not very wishful thinking, as this kind of pattern is 60% of the time seen breaking upwards. What you want to do is confirm if the other patterns mentioned above are also in play! If they are, then we have a very strong bull run ahead. If ADA reaches the top of the BLUE bullish path, that means we will see ADA at $3 given the current price of ETH around $3400-$3500.
by BARSTrading
Will ADA outperform ETH?To many ADA is considered a hedge to ETH, mainly for its reputation of potentially being an "Ethereum killer". We are reaching a point of contingency for ADAETH and can determine its performance for the next part of this bull cycle. Throughout the weekly chart we have clear accumulation and local/major peak zones. April 2018, April 2019 and July 2020 all saw local peaks relative to ETH on the weekly chart, going back to the accumulation zone. January 2018 and March 2021 saw major peaks for ADA, outperforming the local peaks and creating an area to catch onto pumps in between. After the major peak in March 2021 we've been seeing a slow bleed versus Ethereum. This is due to ADA's signature consolidation pattern, where it stays between a certain price point relative to USD for a period of time before pumping again. In addition, ETHBTC saw a bounce and is experiencing a surge in its channel. ADAETH bounced off its local peaks resistance as support for a few weeks but has broken down to the local peak zone. Moving to the daily, we can see that a descending triangle is potentially forming, as 0.00047 has been tested two separate times, one before the major pump and one at the time of this writing. One could also interpret the downward trend as a bullish falling wedge if you decide to chart your support line at the lows in mid-March and late April. If you decide to trade the falling wedge, the price target for ADAETH if it breaks to the upside would be 0.0009. If you decide to trade the descending triangle, the price target would be 0.001.
by coopermalloy1
ADA Eth oscillator ideaAs we all know, markets tend to be oscillators or trenders. In this case, ADAEth is an oscillator which goes between price bands. IMO ada at $1.30 signified a local market top relative to ETH. Eth has a lot of fundamentals going for it soon - extra shard chains, POS, layer 2 updates etc. which will improve it's scalability and lower transaction fees. ADA is still vapourware for the most part, although with potential with partnerships in Africa etc. Nevertheless, $300 billion market cap is fairly overvalued IMO at this stage. I would be going for a short here all the way back to support.
Short
by arviman
Cardano vs Ethereum ADAETH - 2021 year of the Cardano- Cardano is ready for a massive breakout to the upside in compare with Ethereum. - On the weekly chart we can spot a bullish rectangle consolidation pattern. - If you take a look at volume, we have a massive historical volume confirmed! 🎈 - Expected duration of the trade, Stop Loss, Profit Target, Entry Price and Risk To Reward Ratio - for more information, please check my signature below ↓ - There is a huge FOMO around Cardano on social networks. - Don't miss my upcoming updates and new ideas. - We can exchange back to Ethereum on the ATH Resistance level. - If you want to see more of these ideas, hit "Like" & "Follow"!
Long
by UnknownUnicorn2537518
8
ADA/ETH Symmetrical TriangleADA/ETH Pair is forming a Symmetrical Triangle on 4 hr time frame. A symmetrical triangle is a chart pattern characterized by two converging trend lines connecting a series of sequential peaks and troughs. These trend lines should be converging at a roughly equal slope. Symmetrical triangles occur when a crypto-currency price is consolidating in a way that generates two converging trend lines with similar slopes. Please comment with your opinion and suggestions.Thank You
Long
by UnknownUnicorn17495087
3