The daily timeframe signals a continuation of the upward trend for ADA, supported by price dynamics, Elliott Wave analysis, and RSI signals.
The most likely Elliott Wave analysis suggests that ADA has initiated the fifth and final wave of a five-wave bullish structure. The fourth wave concluded on January 8 with a strong rebound, pushing the price above the 0.382 Fibonacci correction level.
Despite Cardano still following a descending resistance line, the daily RSI has already made a bullish breakout of its trendline, often preceding upward movements.
Crypto analyst dApp analyst also anticipates ADA surpassing Bitcoin (BTC) in this cycle.
In the event of a breakthrough of this resistance line, the initial target level for forming the peak would be around $0.81 (1.61 external correction of the fourth wave), representing a 40% increase from the current price.
!(link to the TradingView chart)
However, a dip below $0.50 would negate this bullish forecast and could lead to a 35% decline in ADA to the nearest support level at $0.38.
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Celsius Network Price Action and Crypto Loans https://bit.ly/3feHfFi Celsius Network Crypto Loans on 2020 Always take in consideration non of this information is financial advice, I’m no expert and this is just my personal opinion on certain project mention on this article, cryptocurrencies are extreme high risk assets and you must do you own research Celsius Network has been growing a lot, their business model is not complicated as they basically are a bank in a sense that they hold certain amount of assets, pay interest to the holders of their utility token... https://cryptoxicate.com
Belleofx Ltd | head and shoulders chart pattern is a popular and easy-to-spot pattern in technical analysis that shows a baseline with three peaks, the middle peak being the highest. The head and shoulders chart depicts a bullish-to-bearish trend reversal and signals that an upward trend is nearing its end.
The pattern appears on all time frames and can, therefore, be used by all types of traders and investors. Entry levels, stop levels, and price targets make the formation easy to implement, as the chart pattern provides important and easily visible levels.
Formation of the pattern (seen at market tops):
Left shoulder: Price rise followed by a price peak, followed by a decline.
Head: Price rise again forming a higher peak.
Right shoulder: A decline occurs once again, followed by a rise to form the right peak, which is lower than the head.
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Top Analog Chip Stocks Get Price-Target Hikes On Strong Fundamentals Shutterstock photo Investment bank Jefferies pounded the table for four analog chip stocks on Thursday, raising its price targets on Analog Devices ( ADI ), Maxim Integrated Products ( MXIM ), Microchip Technology (
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