Elliott Wave Analysis TradingLounge Daily Chart

ADA/ 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 Cancel Invalid Level:

Details: ADA/USDT appears to have completed wave II and is now initiating wave 1 of wave III. The first projected target is 1.327 USDT.

ADA/ U.S. Dollar (ADAUSD) Trading Strategy

ADA is currently in the early stages of wave 1 uptrend. After completing wave II, the price was established as a base at the lowest support level of 0.512 USD, which was concluded in a WXY pattern. The price movement is forming wave 1 of III, signaling the start of an uptrend.

Trading Strategies

• Strategy

  • Long Strategy
    • Accumulate when the price breaks through the 0.831 resistance level for a long-term hold in wave (3).

• Risk Management

  • If the price drops below 0.512 (Wave Count Invalid), it will indicate an incorrect wave structure.

Elliott Wave Analysis TradingLounge H4 Chart

ADA/ 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 Cancel Invalid Level:

Details: ADA/USDT appears to have completed wave II and is now initiating wave 1 of wave III. The first projected target is 1.327 USDT.

ADA/ U.S. Dollar (ADAUSD) Trading Strategy

ADA is currently in the early stages of wave 1 uptrend. After completing wave II, the price established a base at the lowest support level of 0.512 USD, concluding in a WXY pattern. The price movement is forming wave 1 of III, signaling the start of an uptrend.

Trading Strategies

• Strategy

  • Long Strategy
    • Accumulate when the price breaks through the 0.831 resistance level for a long-term hold in wave (3).

• Risk Management

  • If the price drops below 0.512 (Wave Count Invalid), it will indicate an incorrect wave structure.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

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