Cardano Elliott Wave technical analysis [Video]
|ADA/USD Elliott Wave technical analysis
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Function: Counter Trend.
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Mode: Corrective.
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Structure: Flat.
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Position: Wave ((C)).
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Next higher degree direction: Wave II.
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Invalidation level: N/A.
Cardano/US Dollar (ADA/USD) – Trading strategy
After reaching a peak of $1.33 in late 2024, ADA's price has steadily declined in a complex A–B–C corrective pattern. It’s currently testing a key Fibonacci support range of wave 2 versus wave 1, located between 0.5547 and 0.4380. This area often marks the completion of wave (II) before the start of wave (III), which could lead to a strong upward move.
Trading strategies
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Strategy
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Approach
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For short-term traders (Swing trade):
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If ADA stays above the 0.55 support zone and then climbs back over 0.85, traders may consider entering a potential uptrend targeting wave (III).
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Risk management
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If ADA drops below 0.321, this wave count becomes invalid, and a new structure will need to be evaluated.
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ADA/USD Elliott Wave technical analysis
-
Function: Counter Trend.
-
Mode: Corrective.
-
Structure: Flat.
-
Position: Wave ((C)).
-
Next higher degree direction: Wave II.
-
Invalidation level: N/A.
Cardano/US Dollar (ADA/USD) – Trading strategy
Since ADA's high of $1.33 in late 2024, its price has been in a downward A–B–C correction. The price is now sitting in the important Fibonacci zone between 0.5547 and 0.4380 — a common reversal zone signaling the end of wave (II) and potentially the beginning of wave (III), which may bring significant gains.
Trading strategies
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Strategy
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Approach
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For short-term traders (Swing trade):
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Traders may look for buying opportunities if the price holds above 0.55 and moves back above 0.85, indicating a likely uptrend wave (III).
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Risk management
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If ADA drops under 0.321, the current Elliott Wave count becomes invalid, and a reassessment is needed.
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Analyst: Kittiampon Somboonsod, CEWA.
ADA/USD Elliott Wave technical analysis [Video]
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