CARDANO - ADA/USDT

- USDT (-)

- Real time data - Cryptocompare

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Type:	Cryptocurrencies
Ticker:	ADAUSDT
ISIN:

CARDANO - ADA/USDT - Weekly - Technical analysis published on 04/27/2023 (GMT)

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Timeframe : Weekly
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Bullish

Underlying: Bearish

Technical indicators

50%

My opinion

Bearish under 0.550533 USDT

My targets

0.368567 USDT (-10.97%)

0.328133 USDT (-20.74%)

My analysis

The basic trend is bearish on CARDANO - ADA/USDT and in the short term, the price is trying to rebound. For the time being, this is only a technical rebound and the basic trend is not threatened. To have the rebound confirmed, it would have at least to go back above the 0.550533 USDT. Buyers would then use the next resistance located at 1.211600 USDT as an objective. Crossing it would then enable buyers to target 2.289800 USDT. If there is a return to below the support located at 0.368567 USDT, this would be a sign of a reversal in the basic bearish trend. The next bearish objectives would be 0.328133 USDT and 0.257367 USDT by extension.

In the very short term, the general bearish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bearish direction is still favored, however the current short term correction should be carefully watched.

Force

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 mdz. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

CARDANO - ADA/USDT rating 0.414000 USDT. Over 5 days, this instrument gained +8.21% with the lowest point at 0.376600 USDT and the highest point at 0.415300 USDT. The deviation from the price is +9.93% for the low point and -0.31% for the high point.

0.376600

0.415300

0.414000

The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.

Bullish opening

Type : Bullish

Timeframe : Openning

A study of price movements over other periods shows the following variations:

Technical

Technical analysis of this Weekly chart of CARDANO - ADA/USDT indicates that the overall trend is bearish. 67.86% of the signals given by moving averages are bearish. Caution: the slightly bullish signals currently given by short-term moving averages show a possible weakening of the global trend. The Central Indicators scanner detects bullish signals on moving averages that could impact this trend:

Bullish price crossover with Moving Average 50

Type : Bullish

Timeframe : Weekly

Bullish price crossover with adaptative moving average 20

Type : Bullish

Timeframe : Weekly

In fact, only 9 technical indicators out of 18 studied are currently positioned bullish. Other results related to technical indicators were also found by the Central Indicators scanner:

Price is back over the pivot point

Type : Bullish

Timeframe : Weekly

Momentum indicator is back over 0

Type : Bullish

Timeframe : Weekly

Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:

Near horizontal resistance

Type : Bearish

Timeframe : Weekly

No result was found by the Central Candlesticks scanner on Japanese candlesticks.

ProTrendLines

Price

	Price	R1	R2	R3
ProTrendLines	0.414000	0.419621	1.211600	2.289800
Change (%)	-	+1.36%	+192.66%	+453.09%
Change	-	+0.005621	+0.797600	+1.875800
Level	-	Major	Minor	Minor

Attention could also be paid to pivot points to set price objectives:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.343867	0.361633	0.381467	0.399233	0.419067	0.436833	0.456667
Camarilla	0.390960	0.394407	0.397853	0.401300	0.404747	0.408193	0.411640
Woodie	0.344900	0.362150	0.382500	0.399750	0.420100	0.437350	0.457700
Fibonacci	0.361633	0.375997	0.384870	0.399233	0.413597	0.422470	0.436833

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.285800	0.332500	0.364100	0.410800	0.442400	0.489100	0.520700
Camarilla	0.374168	0.381345	0.388523	0.395700	0.402878	0.410055	0.417233
Woodie	0.278250	0.328725	0.356550	0.407025	0.434850	0.485325	0.513150
Fibonacci	0.332500	0.362411	0.380889	0.410800	0.440711	0.459189	0.489100

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.216933	0.257367	0.328133	0.368567	0.439333	0.479767	0.550533
Camarilla	0.368320	0.378513	0.388707	0.398900	0.409093	0.419287	0.429480
Woodie	0.232100	0.264950	0.343300	0.376150	0.454500	0.487350	0.565700
Fibonacci	0.257367	0.299845	0.326088	0.368567	0.411045	0.437288	0.479767

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):	51.88
MACD (12,26,9):	-0.0089
Directional Movement:	6.023975
AROON (14):	35.714286
DEMA (21):	0.357055
Parabolic SAR (0,02-0,02-0,2):	0.304271
Elder Ray (13):	0.014121
Super Trend (3,10):	0.255811
Zig ZAG (10):	0.410200
VORTEX (21):	1.0767
Stochastique (14,3,5):	74.29
TEMA (21):	0.419140
Williams %R (14):	-31.03
Chande Momentum Oscillator (20):	0.018100
Repulse (5,40,3):	6.4238
ROCnROLL:	-1
TRIX (15,9):	-0.7997
Courbe Coppock:	41.59

MA7:	0.394186
MA20:	0.409990
MA50:	0.378092
MA100:	0.374379
MAexp7:	0.395431
MAexp20:	0.381755
MAexp50:	0.496307
MAexp100:	0.635010
Price / MA7:	+5.03%
Price / MA20:	+0.98%
Price / MA50:	+9.50%
Price / MA100:	+10.58%
Price / MAexp7:	+4.70%
Price / MAexp20:	+8.45%
Price / MAexp50:	-16.58%
Price / MAexp100:	-34.80%

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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