Cardano Elliott Wave technical analysis [Video]

ADA/USD Elliott Wave technical analysis

• Function: Counter Trend.

• Mode: Corrective.

• Structure: Double Corrective.

• Position: Wave ((Y)).

• Direction next higher degrees:

• Wave cancel invalid level:

• Details: ADA/USDT appears to have completed wave II and is now initiating wave 1 of wave III. The first projected target is 1.327 USDT.

ADA/USD trading strategy: ADA is currently in the early stages of wave 1 uptrend. After completing wave II, the price established a base at the lowest support level of 0.512 USD, concluding in a WXY pattern. The price movement is forming wave 1 of III, signaling the start of an uptrend.

Trading strategies

• Strategy

  • Long strategy
    • Accumulate when the price breaks through the 0.831 resistance level for a long-term hold in wave (3).

• Risk management

  • If the price drops below 0.512 (Wave Count Invalid), it will indicate an incorrect wave structure.

ADA/USD Elliott Wave technical analysis

• Function: Counter Trend.

• Mode: Corrective.

• Structure: Double Corrective.

• Position: Wave ((Y)).

• Direction Next Higher Degrees:

• Wave Cancel Invalid Level:

• Details: ADA/USDT appears to have completed wave II and is now initiating wave 1 of wave III. The first projected target is 1.327 USDT.

ADA/USD trading strategy: ADA is currently in the early stages of wave 1 uptrend. After completing wave II, the price established a base at the lowest support level of 0.512 USD, concluding in a WXY pattern. The price movement is forming wave 1 of III, signaling the start of an uptrend.

Trading strategies

• Strategy

  • Long Strategy
    • Accumulate when the price breaks through the 0.831 resistance level for a long-term hold in wave (3).

• Risk management

  • If the price drops below 0.512 (Wave Count Invalid), it will indicate an incorrect wave structure.

Cardano Elliott Wave technical analysis [Video]