Elliott Wave Technical Analysis: Cardano / U.S. Dollar - Monday, Jan. 9
Cardano / U.S. Dollar (ADA-X) ADAUSD Elliott Wave Technical Analysis
Function: Follow trend Mode: Motive Structure: Impulse Position: Wave V Direction Next higher Degrees: wave V of Motive Details: Wave V is likely to end at level 0.2390 and the price is turning into an uptrend again.
Wave Cancel invalid level: 0.2390
Cardano / U.S. Dollar (ADAUSD) Trading Strategy: Cardano is still under selling pressure as it is still below the MA200, but the price has recovered well from the 0.2390 level and a bullish divergence from the Wave Oscillator gives the trend a chance to reverse upwards again.
Cardano / U.S. dollar (ADAUSD)Technical Indicators: The price is below the MA200 indicating a downtrend. bullish divergence from the Wave Oscillator gives the trend a chance
TradingLounge Analyst: Kittiampon Somboonsod
Elliott Wave Analysis TradingLounge 4H Chart, 9 January 2023, Cardano / U.S. Dollar (ADAUSD) ADAUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave (3) Direction Next higher Degrees: wave (1) of Motive Details: wave (3) is usually the same length as 1.618 or 2.618 x Wave (1) Wave Cancel invalid level: 0.2390
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