In line with our primary scenario, Cardano’s ADA should develop a new low as part of the blue wave (ii). However, this corrective move should conclude with sufficient distance from the $0.31 support so that the blue wave (iii) can take over afterward and drive the price decisively above the $1.32 resistance. That said, our 40% likely alternative scenario suggests that the low of wave alt.(ii) in blue may have already been settled back in February. Confirmation of this alternative trajectory would arise with a clear breakout above $1.32.
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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.