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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

Direction Next higher Degrees: wave (II) of Impulse

Wave Cancel invalid level: 

Details: Wave II Is equal to 61.8% of Wave I at 0.358

Cardano/ U.S. dollar(ADAUSD)Trading Strategy:
The correction in wave (II) is likely to test the 61.8% level (0.359) before rising again in wave (III). Wait for the correction to complete before rejoining the uptrend.

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

Elliott Wave Analysis TradingLounge H4 Chart

Cardano/ U.S. dollar(ADAUSD)

ADAUSD Elliott Wave Technical Analysis 

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave 4

Direction Next higher Degrees: wave C of Flat

Wave Cancel invalid level: 

Details: A short-term pullback in wave 4 before falling again in wave 5.

Cardano/ U.S. dollar(ADAUSD)Trading Strategy:
The correction in wave (II) is likely to test the 61.8% level (0.359) before rising again in wave (III). Wait for the correction to complete before rejoining the uptrend.

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

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