Perfect ADA Price Chart Symmetry: Cardano Approaches $0.1 Despite All Obstacles


Perfect ADA Price Chart Symmetry: Cardano Approaches $0.1 Despite All Obstacles

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

While other cryptocurrencies suffer under the bearish influence, Cardano ignores the trend and takes its own route. Today, we will observe a perfect geometry of ADA price chart that turns $0.1 from theorem to axiom. Check out Cardano price predictions from tradingview users.

Patterns Show the Way on the Map

ADA price chart patterns

Looks like Cardano has formed the Cup and Handle pattern and is ending the handle with an ascending Triangle! Both are signs that an uptrend is coming. According to the trader, it will follow the yellow or orange lines on the chart. MaticMullet puts bids on the Orange line based off the RSI – it provides time to complete the ascending triangle. If it plays out, Cardano will reach the price of $0.1 during this summer.

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Breakout opportunity is on the horizon

ADA might go through a great rally

Cardano should be on your radar for some nice profits in the next coming weeks. Since the Shelley update is coming soon, ADA should go through a serious rally.

There’s a very interesting setup for ADA on the 15 min chart. Note that this trader doesn’t use ordinary candle sticks: he prefers 15-min line breaks for better precision. This strategy gives a better understanding of trends and allows for reaching better results.

So, how to play with ADA? As for the entry point, we have two options: a risky and a safer one.

Risky: Entry point at 1147 sats

Safer: Enter at 1216 sats (waiting for breakout confirmation)

What about the stop loss?

Risky option: 970 (Bigger risk of loss but a smaller chance it hit the stop loss before it goes up again and hit our target).

Safer option: 1068 (Smaller loss if it go south but bigger change it hit your stop loss and then go back and you know the story).

How to take profit along the uptrend?

TP1- 1476 (19.77 % gain). This is the safest take profit and the most likely to hit the target. Fib 2 level is equal to the amplitude of the latest retracement. Meaning the last retracement was 15% correction before his support and bounce back.

TP2- 1738 (39,88%) means you should be patient.

TP3_ 2001 (59,95%) is the riskiest option.

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Short vs Long Perspectives

We have both short and long term perspectives

We have a Bearish Cypher pattern on the ADA/USDT on the 15 min TF, and 2 moves can be played here:

  • Long: The price seems to bounce on the support line while RSI enters the 30+ zone and the MACD seems to be ready for a bullish crossover of the signal.

  • Short: Following the Bearish Cypher, we can expect a dump of the price once D is reached which also corresponds to the resistance line.

Bottom Line

If you’re a confident trader, Cardano can bring you solid profits in the nearest future! it can play out if you short ADA after the right shoulder. But for now, we look to take a position and target 5-10% with a tight stop loss. ADA sell zone is right below the 200 MA.

If things go as predicted, Cardano can make a serious move and grow by up to 180%. So don’t miss your chance to make profits!

Cardano (ADA) price charts by TradingView

Cover image via 123rf.com
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About the author

Vera Yurina (aka Vera Thornpike) writes on web tech and works as a translator, copywriter & crypto geek with a strong passion for creative writing and wordplay. Creates marketing and SEO content for IT & hosting companies, ICOs and finance media since 2013.

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Can TRX Reach 500 Sat in a Week? Quick Peek at Tech Indicators


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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

Good times for Tron have only started: many traders start being bullish about the TRX market, and they have a ton of reasons for that. Why is TRX said to grow in the nearest 10 days? What will drive its growth? Let’s check Tron price analyses and tech indicators from tradingview users.

Ascending wedge scenario

Ascending triangle shouldn’t be broken

TRX/USD has been trading above the low $0.02 range ever since early to mid-May. Since then, an ascending broadening wedge has formed, and new highs in the $0.03 and a low $0.04 range have been seen. We have since corrected downwards from those highs.

We need another confirmation of support at the lower bound of the wedge for the sake of pattern continuation. If the pattern is validated at that point, a move up should be made to test the upper bound of the wedge at the high $0.04 to low $0.05 range. Should this happen, a test of new highs should be seen in 5 to 10 days.

If the pattern breaks below the broadening ascending wedge, TRX/USD would likely return to the low $0.02 range that it was consolidating between February and May.

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How to maximize gains?

Indicators are mostly positive

If you want to trade safely, wait until we clearly exit this descending channel. But if you want to maximize profits, look at divergences in the indicators.

RSI is not looking too overbought, so it's a good sign for buyers. And look at how the RSI is going up just now. Parabolic SAR indicator reversed a few days ago, had a pullback, but it's looking like bouncing on this support being created.

On the 4 hour chart, a nice ascending channel is forming. With last's week price action, it made a solid triple bottom. Another indicator that we should consider is the combo of Donchian channels and Tilson T3 line.

There is only one counter-argument to all these bullish indicators: Bitcoin is showing a huge Head and Shoulders, and we know that when Bitcoin collapses, alts tend to collapse as well.

Long setup for TRX/BTC

Attention on the wedge pattern

We can see that TRX/BTC is definitely set for growth.

What we can see on the 4h chart:

  • Price broke out from a descending trend line and started a Wedge Pattern formation.

  • Wedge Patterns are considered reversal structures.

  • The Wedge Pattern is supported by a major support/resistance level and the broken descending trend line.

Based on this we expect the price to continue the bullish movement towards the next resistance level at 550 satoshi.

So, how to trade TRX now?

  • Entry price: 0420

  • Stop price: 0360

  • Take Profit: 0550

If the Stop is hit, we should see if the intention of the price was to make a fake out or a bearish movement, after that we will consider whether re-entry makes sense.

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Tron is ready to go!

Tron goes in Fib’s golden ratio

Recently, we observed TRX retracing from its last impulse wave, finally settling down in this Fib channel where it has began to show signs of bubbling – right on time.

Analyzing the last impulse wave, we see that Tron is attempting to fight its way back into the Fib channel above. 7 days ago, it entered the 200% Fib Time Zone. In the past, this has been the cause for significant influence on price. We can see a strong reaction from this time zone. Morever, you see sloping downwards Fibonacci speed resistance, indicating that this is a crucial moment as Tron begins to grind against the .618 line.

Also, take a look at the Fibonacci Circles, which provide an exciting insight into the effect of time on the chart. Tron has been forced to move up as it nears ever closer to the Fib Circle's 1.618 Golden Ratio

TRX should definitely make a pop! The first take profit is 550 – 575 satoshi, the final target is 777, however, TRX has the potential to go much higher.

Tron price charts by TradingView

Cover image via 123rf.com
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About the author

Vera Yurina (aka Vera Thornpike) writes on web tech and works as a translator, copywriter & crypto geek with a strong passion for creative writing and wordplay. Creates marketing and SEO content for IT & hosting companies, ICOs and finance media since 2013.

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