Cardano seems to be breaking out of a downtrend. Volume starting to pickup also. Wave 2 retraced to the 0.5 fib level of wave 1. I have a more conservative outlook and am expecting between a 1.0 - 1.61 fib extension for wave 3.
Note
Started to make wave 3 but seems to have failed. Another bad sign is it broke the 0.5 fib level of wave 1. We are at an RSI support zone and oversold, I am expecting a small bounce. If we don't bounce soon, I am expecting a definite bounce off the 0.618 fib level, which is around 2007 sats.Order cancelled
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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.