ADA (CARDANO) 500% EXPLOSIVE MOVE IS GOT A DEADLINE DATE
Updated
First it was all downtrend since September 2021 till October 2023 (over 2 years) with a drop of over 90% then created a temporary support before breaking down. Ever since price tried to recover several times but got rejected even after breaking out of the Descending Channel and then we saw the retest of the channel exactly a year ago before flipping the resistance December last (which is clearly a Change of Character) year and ever since price have been finding support on the previous resistance.
The important part is that the switch in trend has created a complete Elliott Wave Impulse cycle and obviously we are currently in wave 2 which should end around the 60 - 70% Fibonacci zone (an extension to 90% is possible) creating what a Classical Analyst will call a Truncated Head & Shoulder Pattern.
I have already aped in
ADAUSDT and already set a limit order below to DCA around the 60 - 80% Fib. This whole idea is invalidated one price retrace 100% from the last low created on the 10th of June 2023 which serves as the stop order. If average entry be $0.45, ADA should print at least 500% coming Alt Season.OTHER ANALYSIS
Note
UPDATE - MORE CONTEXT - ADAUSDT
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.