NOT FINANCIAL ADVICE.
We have yet to witness the full Coinbase Effect on
ADA, which was boosted by upwards of 20% as soon as news revealed its Coinbase Pro listing on 18th March.
Give it a few more days before Cardano's utility feeds further into the appetite of would-be investors and grow more attractive as an asset.
The Coinbase effect usually plays out over a week of trading, before selloff ensues, which in this case, a target price range of $1.63 ~ $1.72 is desirable for swing traders.
Elliot Wave Analysis
Huge impulse Wave III with impressive trading volume is followed by a corrective Wave IV.
Wave IV seems to have touched the 0.382 fib retracement and we now see a reversal move to the upside, aka a Wave V underway.
Wave V usually extends 100% ~ 161.8% of Wave I + Wave III.
We have yet to witness the full Coinbase Effect on
ADA, which was boosted by upwards of 20% as soon as news revealed its Coinbase Pro listing on 18th March.Give it a few more days before Cardano's utility feeds further into the appetite of would-be investors and grow more attractive as an asset.
The Coinbase effect usually plays out over a week of trading, before selloff ensues, which in this case, a target price range of $1.63 ~ $1.72 is desirable for swing traders.
Elliot Wave Analysis
Huge impulse Wave III with impressive trading volume is followed by a corrective Wave IV.
Wave IV seems to have touched the 0.382 fib retracement and we now see a reversal move to the upside, aka a Wave V underway.
Wave V usually extends 100% ~ 161.8% of Wave I + Wave III.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.