Using the skills from TG35 of the CTKS Masterclass, I'll show you the output of Cardano's price fractal post the SEC's ETH ETF approval.

ADA Fractal

Assuming the same price action that followed the spot Bitcoin ETF approval repeats with the approval of the Ethereum ETF, we would expect ADA to reach 0.3712 on the 5th of June 2024 and then rally to 0.6711 by the 26th of July 2024.

Fractals give possible price behavior and are indicative by nature.

Moving Average (MA) Analysis

Exponential price action significantly reduces the predictive capacity of MAs. However, MAs can be used successfully to gauge the strength of past trends. At the time of writing, ADA is under the 200-day MA, the 100-day MA, the 50-day MA, the 26-day MA, and the 12-day MA. Investors and traders will, therefore, conclude that ADA is in a negative trend and could take some time to turn around.

The CTKS Method dMAs indicator is provided as part of the CTKS Method Service.

CTKS Structure

The CTKS Method is the world's most powerful buy and sell level detection system. It creates the most statistically significant structural support/resistance lines. A few of these levels are provided below:

Irrespective of market action (bullish/bearish), knowing structural levels is vitally important. At point (1), the 0.4874 level price could not break above this structural level, which put the lower structural levels (2) into play, between 0.4516 and 0.4660. At point (3), ADA sought to break out from the 0.4660 level, but the lack of follow-through confirmation increased the probability of lower structural support levels (Point 4).

Price may appear random, but it is not. Price is always moving between CTKS Levels, also known as Standield Levels (or SLs). All CTKS Levels on a chart are referred to as CTKS Structure.

You can learn to draw these SLs through Level 1 and Level 2 Standards Certification. CTKS Structure changes monthly, and to save time, you can obtain the current monthly levels for ADA by applying the ADA indicator from the CTKS Method Service.

Watch the video

I hope this is helpful to you.

About the Author

Ken Standfield is an inventor and Core Developer of Technical Analysis with nearly four decades of experience in financial markets. He is qualified in Finance, was a former lecturer in Statistics, and holds an Actuarial Scholarship. He is an award-winning author and international keynote speaker specializing in solving the greatest issues facing financial valuation. He founded an Internet Service Provider (ISP) in 1991 and has a long history of leading software development teams globally.

This information is not financial advice. Please do your own research before deciding on what to buy or sell.

If you'd like other cryptos analyzed, please let me know by commenting.