Elliott Wave Technical Analysis: Cardano Crypto Price News For Friday, April 11
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Elliott Wave Analysis – TradingLounge Daily Chart
Cardano / U.S. Dollar (ADAUSD)
ADAUSD 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 / U.S. Dollar (ADAUSD) – 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
Strategy
Approach
✅ For Short-Term Traders (Swing Trade):
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).
Risk Management
If ADA drops below 0.321, this wave count becomes invalid, and a new structure will need to be evaluated.
Elliott Wave Analysis – TradingLounge H4 Chart, 11 April 2025
Cardano / U.S. Dollar (ADAUSD)
ADAUSD 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 / U.S. Dollar (ADAUSD) – 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
Strategy
Approach
✅ For Short-Term Traders (Swing Trade):
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).
Risk Management
If ADA drops under 0.321, the current Elliott Wave count becomes invalid, and a reassessment is needed.
Analyst: Kittiampon Somboonsod, CEWA
TradingLounge
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