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Cardano Elliott Wave analysis eyes to 2.0 level

Cardano Elliott Wave analysis eyes to 2.0 level
Gregor HorvatGregor HorvatWavetraders

Cardano, ADAUSD is in the strong rise, but as we can see, the strong support zone below 1.0 level is still open.

Considering that the Crypto market is generally trading at a strong resistance zone, we believe that ADAUSD is still trading in wave B correction, either as part of a bearish triangle or maybe even flat that can retest 2.0 resistance level before a sell-off back to lows for wave C.

ADA/USD 4h Elliott Wave analysis

Cardano

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Author

Gregor Horvat

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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