CARDANO - ADA/USDT

- USDT (-)

- Real time data - Cryptocompare

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Type:	Cryptocurrencies
Ticker:	ADAUSDT
ISIN:

CARDANO - ADA/USDT - Daily - Technical analysis published on 02/08/2024 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Bullish

Underlying: Bullish

Technical indicators

61%

33%

My opinion

Bullish above 0.466576 USDT

My targets

0.579051 USDT (+10.52%)

0.662118 USDT (+26.37%)

My analysis

All elements being rather bullish, it would be possible for traders to only trade long positions (at the time of purchase) on CARDANO - ADA/USDT as long as the price remains well above 0.466576 USDT. The buyers' bullish objective is set at 0.579051 USDT. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 0.662118 USDT. If there is any crossing, the next objective would be the resistance located at 1.211600 USDT. Be careful, the short term currently seems to be losing momentum. Its reversal would lead to mitigation of the, bullish, basic trend. If you have another key point closer to the current price, it would be better to only trade long positions (at the time of purchase) above that key point.

In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

5.4

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by zonneveldmjf. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

CARDANO - ADA/USDT rating 0.523952 USDT. On the day, this instrument gained +4.32% and was traded between 0.502031 USDT and 0.535129 USDT over the period. The price is currently at +4.37% from its lowest and -2.09% from its highest.

0.502031

0.535129

0.523952

Here is a more detailed summary of the historical variations registered by CARDANO - ADA/USDT:

Technical

Technical analysis of this Daily chart of CARDANO - ADA/USDT indicates that the overall trend is bullish. 71.43% of the signals given by moving averages are bullish. This bullish trend shows slight signs of slowing down given the slightly bullish signals given by the short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

An assessment of technical indicators shows a moderate bullish signal.
Caution: the Central Indicators scanner currently detects an excess:

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Daily

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Pivot points : price is over resistance 2

Type : Neutral

Timeframe : Daily

RSI indicator is back over 50

Type : Bullish

Timeframe : Daily

Parabolic SAR indicator bullish reversal

Type : Bullish

Timeframe : Daily

Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:

Horizontal resistance is broken

Type : Bullish

Timeframe : Daily

Resistance of triangle is broken

Type : Bullish

Timeframe : Daily

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	0.385545	0.466576	0.514588	0.523952	0.579051	0.662118	1.211600
Change (%)	-26.42%	-10.95%	-1.79%	-	+10.52%	+26.37%	+131.24%
Change	-0.138407	-0.057376	-0.009364	-	+0.055099	+0.138166	+0.687648
Level	Minor	Intermediate	Intermediate	-	Minor	Major	Intermediate

To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.455199	0.464673	0.483462	0.492936	0.511725	0.521199	0.539988
Camarilla	0.494478	0.497069	0.499659	0.502250	0.504841	0.507432	0.510022
Woodie	0.459856	0.467002	0.488119	0.495265	0.516382	0.523528	0.544645
Fibonacci	0.464673	0.475470	0.482140	0.492936	0.503733	0.510403	0.521199

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.431779	0.457624	0.485020	0.510865	0.538261	0.564106	0.591502
Camarilla	0.497776	0.502656	0.507537	0.512417	0.517297	0.522178	0.527058
Woodie	0.432556	0.458012	0.485797	0.511253	0.539038	0.564494	0.592279
Fibonacci	0.457624	0.477962	0.490527	0.510865	0.531203	0.543768	0.564106

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.228755	0.338243	0.417954	0.527442	0.607153	0.716641	0.796352
Camarilla	0.445636	0.462980	0.480323	0.497666	0.515009	0.532353	0.549696
Woodie	0.213868	0.330799	0.403067	0.519998	0.592266	0.709197	0.781465
Fibonacci	0.338243	0.410517	0.455168	0.527442	0.599716	0.644367	0.716641

Numerical data

The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:

Technical indicators

Moving averages

RSI (14):	53.93
MACD (12,26,9):	-0.0054
Directional Movement:	-1.556043
AROON (14):	35.714286
DEMA (21):	0.498055
Parabolic SAR (0,02-0,02-0,2):	0.447730
Elder Ray (13):	0.013255
Super Trend (3,10):	0.561133
Zig ZAG (10):	0.525503
VORTEX (21):	1.0130
Stochastique (14,3,5):	63.72
TEMA (21):	0.500392
Williams %R (14):	-15.40
Chande Momentum Oscillator (20):	0.039176
Repulse (5,40,3):	6.8307
ROCnROLL:	1
TRIX (15,9):	-0.3017
Courbe Coppock:	8.42

MA7:	0.505636
MA20:	0.498234
MA50:	0.540970
MA100:	0.486797
MAexp7:	0.506970
MAexp20:	0.507496
MAexp50:	0.511647
MAexp100:	0.478196
Price / MA7:	+3.62%
Price / MA20:	+5.16%
Price / MA50:	-3.15%
Price / MA100:	+7.63%
Price / MAexp7:	+3.35%
Price / MAexp20:	+3.24%
Price / MAexp50:	+2.40%
Price / MAexp100:	+9.57%

Quotes : - Real time data - Cryptocompare

This member declared not having a position on this financial instrument or a related financial instrument.

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