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Cardano Elliott Wave technical analysis [Video]

Cardano Elliott Wave technical analysis [Video]
Peter MathersPeter MathersTradingLounge

ADA/USD Elliott Wave technical analysis

Function: Counter Trend

Mode: Corrective

Structure: Double Corrective

Position: Wave Y

Direction next higher degrees: wave (II)

Details: The decline of wave Y is likely to end and the price is re-entering the uptrend.

Cardano/U.S. dollar (ADAUSD)Trading Strategy: It looks like the wave (II) correction is complete and the price is still likely to move up. Look for an opportunity to join the wave (III) uptrend.

Cardano/U.S. dollar (ADAUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bearish Momentum.

ADAUSD

ADA/USD Elliott Wave technical analysis 

Function: Counter Trend

Mode: Corrective

Structure: Zigzag

Position: Wave C

Direction next higher degrees: Wave (2) of Impulse

Details: Wave (2) is likely to end and the price is re-entering the uptrend.

Cardano / U.S. dollar (ADAUSD) Trading Strategy: It looks like the wave 2 correction is complete and the price is still likely to move up. Look for an opportunity to join the wave 3 uptrend.

Cardano / U.S. dollar (ADAUSD) Technical Indicators: The price is below the MA200indicating a downtrend, The Wave Oscillator is a Bearish Momentum.

ADAUSD

Cardano Elliott Wave technical analysis [Video]

Author

Peter Mathers

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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