Cardano has been expected to do well this crypto cycle, but even the one dollar mark has been elusive despite a strong bitcoin market as the driver for all of the crypto space.
However, its chart exhibits a very nice Elliott wave structure resulting in a clear five-wave ascend into the 80 to 90 cent range.
Along with bitcoin’s correction, ADA experienced a sharp pullback in mid-April, that closed and corrected the first full wave sequence of 2024, presented in this chart.
However, its chart exhibits a very nice Elliott wave structure resulting in a clear five-wave ascend into the 80 to 90 cent range.
Along with bitcoin’s correction, ADA experienced a sharp pullback in mid-April, that closed and corrected the first full wave sequence of 2024, presented in this chart.
This projection can be seen in the chart, if one adjusts the price scale a little bit, and/or pulls the chart down.
The 100 % extension comes in at 98 cents, the 141.4 % level at $1.22 and the 161.8 % extension at $1.33. Of course, with a strong bull market, the third wave can run much longer. More clues will emerge once new subwaves one and two have formed.