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ADAUSD.P trade ideas

Cardano (ADA): short reversal?ADA was losing strength for the last three weeks. Events during the previous week around Silvergate Bank, Silicon Valley Bank and FED Chair Powell testimony, only pushed the market to move price to the downside at a higher pace. ADA`s price reached a minimum weekly level at $0.30, which is a support line for this coin. Around this level the coin is also finishing the week. During the time of general sell-off, the RSI indicator moved to the downside, reaching level of 30. This is an indication of a clear oversold side of the market, from where, short reversal might be expected. Moving averages of 50 and 200 days are moving a bit strangely during the last two weeks. Namely, they are moving together as one line, still not providing a clear view, whether a cross actually occurred or not. Charts are pointing that ADA is currently at sort of a cross-road. Namely, the support line at $0.30 is currently tested, but in case that this level is breached further to the downside, then the next target of ADA will be a $0.26 level from the end of December last year. This might occur only in case of further negative news on the market. Otherwise, RSI is pointing on potential for a short reversal, in which sense, ADA might revert to $0.34-$0.35 levels.
COINBASE:ADAUSD
by XBTFX
1
Cardano (ADA): on the oversold coursePrevious week was not the positive one on the crypto market, considering all the negative news regarding the Silvergate bank. Investors are clearly on a hold, which is confirmed through significantly decreased daily trading volumes. ADA still holds its fragility, in which sense, the coin lost more than 7% of its value during the previous week. Although the coin started the previous week around $0,36 level, during the week the market was oriented toward the downside, and selling orders pushed the price to the level of $0,33. Although the lowest weekly level was $0,32, this line was reached on only one occasion, but it generally reveals the market sentiment about ADA at this moment. RSI was further pushed to the downside, reaching level of 36 as of the end of the week. The market is clearly looking at the clear oversold side. Interesting development occurred with MA50 and MA200 lines, where they are currently crossed, but it is too early to say whether it is a real golden cross or there is still not going to be one. ADA will continue to follow general market sentiment and wait for investors to return on the market in the coming period. In this sense, some significant moves should not be expected in the week ahead. There is potential for the price to move further to the downside, at least to the level of $0,32 which was tested on only one occasion during the previous week. Whether the price might go below this level is unclear from the current chart. On the opposite side, the resistance line at $0,35 might be tested again, but without a potential to be crossed to the upside.
COINBASE:ADAUSD
by XBTFX
ADA upward continuation after this?As ADA nears its mid term fib support at 31c at the 0.618 retracement, I’ll be expecting a strong bounce at that level. Should it fail, there should be even stronger support at the 0.786 fib retracement level at 27c. A bounce at the fib support should send it back above the 20 week moving average, and all the way up to where the 20, 50 and 200 day moving averages have converged at about 37c to 38c. I’d expect to see pretty strong resistance there, but am confident that ADA can break above all three of those, keeping all the strong fundamental developments in mind. Prediction for the end of March is that ADA will be hovering around the 37c to 39c range, either just above or below the daily moving average resistances.
KRAKEN:ADAUSD
by Fibonachos
3
#ADAUSD - Breakout or Fakeout? We Predict Drops..#CARDANO has shown a small burst of excitement in the last few days with this little break of trend as illustrated, breakout or fakeout is the question? After a historic 12 months of mammoth gains followed by a steady decline we can see the price heading back into an area of previous consolidation before the next big move occurs. _________ What Do You Think? If you enjoyed or agree with this idea - drop us a comment, like & follow! 😀 Ideas by theCrypster meet the guidance notes and disclaimer as mentioned below and within our website. See Signature for more info! ✌️ 🔥🔥🔥 Crypto Tipster v2 theCrypster 🔥🔥🔥
KRAKEN:ADAUSDShort
by theCrypster
2
Cardano (ADA): eyeing oversold sideIn line with general market sentiment during the previous week, ADA finished the week at lower levels from the week before. The $0.40 resistance line has been a tight task for ADA for two last weeks, so the coin reverted to the down side, and support line at $0.35, where ADA is finishing the week. With the latest price moves, RSI crossed the 50 line and headed to the downside, reaching level of 43. This is indication that the market started eyeing the oversold side. On a positive side is that moving averages of 50 and 200 days started moving quite close toward each other, implying that the Golden cross might occur in the near future. This would be an indication of potential positive developments for ADA, in terms of potential change of a trend. Indicators are showing the potential for ADA to move even to the lower grounds in the coming days. It should not be expected to make any significant moves, as daily trading volumes are low. ADA will start the week ahead by testing the $0.35 support line to the downside. In case that selling orders prevail, then there might be a potential move toward $0.33. At this moment, there are no indications that the $0.30 support line might be tested. In case that $0.35 manages to hold current selling pressures, then a short reversal is possible, but with decreased probability that $0.40 resistance might be tested again.
COINBASE:ADAUSD
by XBTFX