Elliott Wave Technical Analysis: Cardano Crypto Price News For Friday, Aug 23
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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: Double Corrective
position: Wave Y
Direction Next higher Degrees: wave (II)
Wave Cancel invalid level:
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:
Overall the correction in wave (II) position is likely to end and price is now rising again in wave (III). Look for an opportunity to join the uptrend from a short-term pullback.
Cardano/ U.S. dollar(ADAUSD)Technical Indicators:
The price is above the MA200 indicating an Uptrend. The Wave Oscillator is a Bullish Momentum.
Elliott Wave Analysis TradingLounge H4 Chart
Cardano/ U.S. dollar(ADAUSD)
ADAUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Double Corrective
position: Wave Y
Direction Next higher Degrees: wave (II)
Wave Cancel invalid level:
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:
Overall the correction in wave (II) position is likely to end and price is now rising again in wave (III). Look for an opportunity to join the uptrend from a short-term pullback.
Cardano/ U.S. dollar(ADAUSD)Technical Indicators:
The price is above the MA200 indicating an Uptrend. The Wave Oscillator is a Bullish Momentum.
Technical Analyst: Kittiampon Somboonsod
Source: Tradinglounge.com
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Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817
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