CARDANO - ADA/USD

- USD (-)

- Real time data - Cryptocompare

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Type:	Cryptocurrencies
Ticker:	ADAUSD
ISIN:

CARDANO - ADA/USD - Daily - Technical analysis published on 09/23/2021 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Slightly bullish

Technical indicators

33%

44%

22%

My opinion

Bearish under 2.36 USD

My targets

2.01 USD (-11.45%)

1.84 USD (-18.94%)

My analysis

The strong short-term decline in CARDANO - ADA/USD calls into question the currently slightly bullish basic trend. A trend reversal is likely. As long as the price remains below the resistance located at 2.36 USD, one could consider taking advantage of the short-term movement. The first bearish objective is located at 2.01 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 1.84 USD as an objective. Crossing it would then enable sellers to target 1.38 USD. Be careful, a return to above 2.36 USD could jeopardize the reversal.

In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.

Force

0.7

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

Additional analysis

Quotes

CARDANO - ADA/USD rating 2.27 USD. The price has increased by +0.44% since the last closing and was traded between 2.20 USD and 2.29 USD over the period. The price is currently at +3.18% from its lowest and -0.87% from its highest.

2.20

2.29

2.27

The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.

Bearish opening

Type : Bearish

Timeframe : Openning

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

Technical

Technical analysis of CARDANO - ADA/USD in Daily shows an overall slightly bullish trend. 57.14% of the signals given by moving averages are bullish. Caution: a reversal of the trend could be possible given the strong bearish signals of short-term moving averages. An assessment of moving averages reveals several bearish and bullish signals:

Moving Average bearish crossovers : AMA20 & AMA50

Type : Bearish

Timeframe : Daily

Bullish price crossover with adaptative moving average 100

Type : Bullish

Timeframe : Daily

In fact, Central Analyzer took into account 18 technical indicators and the result was as follows: 6 are bullish, 4 are neutral and 8 are bearish. But beware of excesses. The Central Indicators scanner currently detects this:

CCI indicator is oversold : under -100

Type : Neutral

Timeframe : Daily

MACD indicator: bullish divergence

Type : Bullish

Timeframe : Daily

Other results related to technical indicators were also found by the Central Indicators scanner:

Price is back over the pivot point

Type : Bullish

Timeframe : Daily

Price is back under the pivot point

Type : Bearish

Timeframe : Weekly

Central Patterns, the scanner specializing in chart patterns, did not identify any signals.

The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:

White morning star

Type : Bullish

Timeframe : Daily

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	1.05	1.38	1.84	2.27	2.30	2.64	2.97
Change (%)	-53.74%	-39.21%	-18.94%	-	+1.32%	+16.30%	+30.84%
Change	-1.22	-0.89	-0.43	-	+0.03	+0.37	+0.70
Level	Major	Intermediate	Minor	-	Major	Minor	Major

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

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1.76	1.87	2.06	2.17	2.36	2.47	2.66
Camarilla	2.18	2.21	2.23	2.26	2.29	2.32	2.34
Woodie	1.81	1.89	2.11	2.19	2.41	2.49	2.71
Fibonacci	1.87	1.98	2.05	2.17	2.28	2.35	2.47

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1.71	2.01	2.19	2.49	2.67	2.97	3.15
Camarilla	2.24	2.28	2.33	2.37	2.41	2.46	2.50
Woodie	1.65	1.98	2.13	2.46	2.61	2.94	3.09
Fibonacci	2.01	2.19	2.31	2.49	2.67	2.79	2.97

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.12	0.73	1.75	2.36	3.38	3.99	5.01
Camarilla	2.32	2.47	2.62	2.77	2.92	3.07	3.22
Woodie	0.33	0.83	1.96	2.46	3.59	4.09	5.22
Fibonacci	0.73	1.35	1.74	2.36	2.98	3.37	3.99

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):	45.83
MACD (12,26,9):	-0.0800
Directional Movement:	-10.66
AROON (14):	-71.42
DEMA (21):	2.32
Parabolic SAR (0,02-0,02-0,2):	2.75
Elder Ray (13):	-0.09
Super Trend (3,10):	2.77
Zig ZAG (10):	2.27
VORTEX (21):	0.8700
Stochastique (14,3,5):	29.14
TEMA (21):	2.13
Williams %R (14):	-59.51
Chande Momentum Oscillator (20):	-0.37
Repulse (5,40,3):	5.0300
ROCnROLL:	-1
TRIX (15,9):	-0.1500
Courbe Coppock:	30.21

MA7:	2.23
MA20:	2.45
MA50:	2.36
MA100:	1.83
MAexp7:	2.25
MAexp20:	2.38
MAexp50:	2.28
MAexp100:	2.01
Price / MA7:	+1.79%
Price / MA20:	-7.35%
Price / MA50:	-3.81%
Price / MA100:	+24.04%
Price / MAexp7:	+0.89%
Price / MAexp20:	-4.62%
Price / MAexp50:	-0.44%
Price / MAexp100:	+12.94%

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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