Cardano ADA Price News Today – Elliott Wave Technical Analysis and Price Now! Price Prediction!

Cardano ADA Price News Today – Elliott Wave Technical Analysis and Price Now! Price Prediction!

[Music]
hello and welcome to another update
video about ADA yeah Ada chart continues
to be in this correction I think
everybody by now knows about this
structure so from the June lows we have
five wave move up uh which I consider a
diagonal pattern we could now be in this
wave to pull back
the support area is
defined we have seen a lot of weakness
over recent weeks but that’s not only
the case on the Ada chart that’s across
the across the altcoin sector across the
crypto sector altcoin is of course more
volatile than Bitcoin and we have the
potential that the low is already in but
obviously it’s getting challenged right
now one more low is still a likely
option that we need to consider as
discussed in previous updates if the is
already in then we should really see a
reaction in this region in this micro
called it Nano support area um all that
is just speculation obviously needs to
prove itself until we see a first five
wve move best would be an Impulse we are
not clearly out of this correction we
haven’t clearly escaped or we have not
escaped this correction yet you know we
we need that five wve move or the risk
is that the correction will continue so
that’s what Elliot wave wave tells us
that there is still a risk for further
downside here and that’s actually quite
a high risk that risk will reduce with
the establishment or the formation you
could say of a first five wve pattern
you see here highlighted in yellow how
such a five-wave pattern would look like
for me that would mean the third wave
needs to reach 56.8 cents these are
specific
guidelines um the 1.38 extension would
be the first ideal Target for a third
wave then there should be a fourth wave
and a fifth wave that cannot become an
Impulse but it could turn into a
diagonal pattern and that’s possible but
again we need five waves to basically 60
cents 59.8 cents critical level there
and that needs to be reached in five
waves until then there is a high risk of
it still to break down of course one
more high would already increase
probabilities that the low is in but
really I need those five waves for more
reliable assessment and um to have a
more reliable view actually that the low
is formed in this wave to okay at the
moment it’s marked there with a question
mark we’re following it I give it the
benefit of the doubt or the chance at
least but it has a lot to prove this
looks now more like a five-wave move I
have to say Okay so if the next rally is
clearly corrective and this is really
where we will gain a lot of additional
information from if the next rally and
ideally it starts from here whether it’s
part of the wave five or part of the
seawave to the upside if the next rally
is corrective and doesn’t break above
the last high that will be a clear setup
for the fifth wave down which could be
an ABC structure so in the white
count and that might be the case for
many altcoins right but I’m not I’m not
label labeling every single micro Nano
wave because it doesn’t give us much
more clarity right it’s all about
keeping it simple see it would be like
that probably but that’s not predictive
as such it just tells us that the fifth
wave is likely going to be an ABC
structure because of the context it’s an
ending diagonal and take that
off and if the next rally is corrective
it’s likely that b-wave
and we could then expect the seawave
down if the price reacts to a resistance
area which yeah I mean I can put on the
chart but it’s just not very reliable so
this would be a micro resistance area
yeah just standard Fibonacci levels if
the B wve rallies into this region pay
attention to the area between 48.2 cents
and
50.5 cents from here a c-wave to the
downside could start to unfold and if we
get a b-wave top in place we can
calculate a target for the seawave down
of course everything as I said bit
speculative at the moment not much going
on there and it’s really really boring
and clearly as I said as long as we we
don’t have five waves into One Direction
it’s overall not very clear I mean the
thing is we have actually five down I
think okay so that might shift
probabilities a little bit towards the
white count a little bit further but as
long as we don’t break support it’s to a
degree also subjective Ian we’re dealing
here with a small really small time
frame and obviously larger degree
support levels are much more reliable
we’ve got that one here but if we put
push a little higher it might be that
this at least the b-wave might have
started maybe the c-wave to the upside
overall I do expect however a quiet
Saturday that’s my update about adaah
hope you like the update if you did
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watching
bye-bye for

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Cardano ADA Price News Today – Elliott Wave Technical Analysis and Price Now! Price Prediction!
In this video I talk about the current price of Cardano ADA and provide a price forecast. I carry out a technical analysis of this cryptocurrency and give a price update.

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