CardanoLong
ADA about complete ABC correction before rise again
Updated
Technicals
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Currently we are at top of B corrective wave (and right shoulder) of a full EW pattern in formation since April 26th. If that's correct, we will se a new pullback to kiss ~0.618 fib and EMA 100, around $1.53.
Decreasing volume and bearish divergence support this pattern.
Fundamentals
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Cardano will be at Coindesk Consensus congress at May 24th-26th. Will reveal it's roadmap to move into production it's main net as level 1 blockchain with a great technology faster than Ethereum and without big fees problems. This will bring more liquidity to ADA at the end of the month.
If pattern completes, next pullback to ~$1.53 will be a very good entry point for a great investment for the long term.
Good luck.
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Currently we are at top of B corrective wave (and right shoulder) of a full EW pattern in formation since April 26th. If that's correct, we will se a new pullback to kiss ~0.618 fib and EMA 100, around $1.53.
Decreasing volume and bearish divergence support this pattern.
Fundamentals
============
Cardano will be at Coindesk Consensus congress at May 24th-26th. Will reveal it's roadmap to move into production it's main net as level 1 blockchain with a great technology faster than Ethereum and without big fees problems. This will bring more liquidity to ADA at the end of the month.
If pattern completes, next pullback to ~$1.53 will be a very good entry point for a great investment for the long term.
Good luck.
Trade closed: target reached
Pattern developed exactly as expected.Let's see how it develops over the next crucial hours.
Thank you all
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