Elliott Wave Technical Analysis: Cardano - Monday, Nov. 21

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Elliott Wave Analysis TradingLounge Daily Chart, 21 November 2022,

Cardano (ADAUSD)

ADAUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Diagonal

Position: Wave 5

Direction Next higher Degrees: Sub-wave of Wave C

Details: wave 5 in diagonal Usually has a length of .618 x the length of wave3 at level 0.2754.

Wave Cancel invalid level: Cardano (ADAUSD) Trading Strategy: The final drop in the bear market There is overlap indicating a slowdown in the Diagonal Triangle pattern. Overall, the ADAUSD is still in a downtrend as prices are still below the MA50 MA200, although this is the end of the trend. Enter trades should wait for confirmation of a reversal to an uptrend first. because the price is still being pressured by buried sales.

Cardano (ADAUSD) Technical Indicators: The price is below the MA200 MA50, indicating a downtrend. The Wave oscillator below Zero-Line Momentum is bearish.

Analyst: Kittiampon Somboonsod

Elliott Wave Analysis TradingLounge 4H Chart, 21 November 2022,

Cardano (ADAUSD) Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Diagonal

Position: Wave 5

Direction Next higher Degrees: Sub-wave of Wave C

Details: wave 5 in diagonal Usually has a length of .618 x the length of wave3 at level 0.2754.

Wave Cancel invalid level:

Cardano (ADAUSD)Trading Strategy: The final drop in the bear market There is overlap indicating a slowdown in the Diagonal Triangle pattern. Overall, the ADAUSD is still in a downtrend as prices are still below the MA50 MA200, although this is the end of the trend. Enter trades should wait for confirmation of a reversal to an uptrend first because the price is still being pressured by buried sales

Cardano (ADAUSD) Technical Indicators: The price is below the MA200 MA50, indicating a clear downtrend. The Wave oscillator below Zero-Line Momentum is bearish.