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Cardano Elliott Wave cycles approaching the top

Cardano Elliott Wave cycles approaching the top
Gregor HorvatGregor HorvatWavetraders

Cryptocurrencies are still at the strong resistance zone, but we are not sure if intraday resistance is already in place, so at this stage we are tracking two interpretations on some of the major coins.

As per Elliott Wave analysis, Cardano (ADA/USD) is in final stages of wave (5), now finally touching 3.0 level with room even up to 3.5. However, keep in mind that we are in the target zone, so a reversal down into a higher degree correction may occur anytime soon.

ADA/USD 4h Elliott Wave analysis chart

ADAUSD

Check more of our analysis for currencies and cryptos in members-only area. Visit EW-Forecast for details!

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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