Elliott Wave Analysis TradingLounge Daily Chart, Thursday, March 9

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Cardano/U.S. Dollar (ADA-X)

ADAUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: Flat

Position: Wave (C)

Direction Next higher Degrees: wave ((2)) of Motive

Details: Retracement of wave (2) equal to .618 x Length wave (1) at 0.3064

Wave Cancel invalid level: 0.2390

Cardano/U.S. Dollar (ADAUSD)Trading Strategy: Cardano tested resistance at the MA200 but was unable to hold it, causing the price to drop. But even so, we predict a decline in the second wave; upon completion prices rise again in the third wave in an uptrend. Wait for the second wave to complete to rejoin the trend where the level of 0.2390 must not be broken.

Cardano/U.S. Dollar (ADAUSD)Technical Indicators: The price is below the MA200 indicating a downtrend. The wave oscillators below Zero-Line momentum are bearish.

TradingLounge Analyst: Kittiampon Somboonsod

Elliott Wave Analysis TradingLounge 4H Chart, 09 March 23,

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 ((2)) of Motive

Details: in an expanded flat, wave C equals 1.618 multiplied by the length of wave A

Wave Cancel invalid level: 0.2390

Cardano/U.S. Dollar (ADAUSD) Trading Strategy: Cardano tested resistance at the MA200 but was unable to hold it, causing the price to drop. But even so, we predict a decline in the second wave; upon completion prices rise again in the third wave in an uptrend. Wait for the second wave to complete to rejoin the trend where the level of 0.2390 must not be broken.

Cardano/U.S. Dollar (ADAUSD) Technical Indicators: The price is below the MA200 indicating a downtrend. The wave oscillators below Zero-Line momentum are bearish.

Enterro-Line momentum are bearish.

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