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Elliott Wave Analysis TradingLounge Daily Chart

Cardano / U.S. dollar(ADAUSD)

ADAUSD Elliott Wave Technical Analysis 

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave ((1))

Direction Next higher Degrees: wave I of Impulse

Wave Cancel invalid level: 

Details: the five-wave Increase of wave ((1))

Cardano / U.S. dollar(ADAUSD)Trading Strategy:
Cadano's outlook looks like the Wave 1 rally is likely to end. The price is entering a correction in Wave 2, likely to test the 61.8%(0.365) level of Wave 1 before rising again in Wave 3. So wait for the correction to complete for an opportunity to join the trend again.

Cardano / U.S. dollar(ADAUSD)Technical Indicators:
The price is below the MA200 indicating a Downtrend. The Wave Oscillator is a Bullish 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 ((1))

Direction Next higher Degrees: wave I of Impulse

Wave Cancel invalid level: 

Details: The rally in Wave 1 is likely to end, watch out for a correction in Wave 2.

Cardano / U.S. dollar(ADAUSD)Trading Strategy:
Cadano's outlook looks like the Wave 1 rally is likely to end. The price is entering a correction in Wave 2, likely to test the 61.8%(0.365) level of Wave 1 before rising again in Wave 3. So wait for the correction to complete for an opportunity to join the trend again.

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

Technical Analyst: Kittiampon Somboonsod

Source: Tradinglounge.com

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