Elliott Wave Analysis TradingLounge Daily Chart, September 19, 2022, Cardano (ADA-X)

Unsplash

ADAUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave ((3))
Direction Next higher Degrees: Wave 3 of Motive Details: the price building in the sub-wave of wave III is likely to trade below 0.4050, but not above 0.5946.
Wave Cancel invalid Level: 0.5946
Cardano Trading Strategy: Bear Market Efforts The price tends to trade below the .4000 level as the price has already tested resistance at the MA50 area and failed to pass. The price is likely to reverse the downtrend again.

Cardano Technical Indicators: MACD Histogram have a Bearish divergence, and the price has an opportunity reversal.

TradingLounge Analyst: Kittiampon Somboonsod

Elliott Wave Analysis TradingLounge 4H Chart, 19 September 2022, Cardano 
ADAUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave ((3))
Direction Next higher Degrees: Wave 3 of Motive Details: the price building in the sub-wave of wave III is likely to trade below 0.4050, but not above 0.5946.
Wave Cancel invalid Level: 0.5946
Cardano Trading Strategy: Bear Market Efforts The price tends to trade below the .4000 level as the price has already tested resistance at the MA50 area and failed to pass. The price is likely to reverse the downtrend again.

Cardano (ADAUSD)Technical Indicators: MACD Histogram have a Bearish divergence, and the price has an opportunity reversal.

More By This Author:

Bitcoin Elliott Wave | BTC Bounce Off $19,000 Then Down
ASX200, CBA, Iron Ore, BHP, FMG, RIO, Lithium Stocks, GDX, GOLD, NCM, DXY, AUDUSD Elliott Wave
TRON (TRXUSD) Elliott Wave Technical Analysis 16 September 2022