CardanoLong
ADA/USD
Cardano is potentially setting up for a nice Long entry on shorter timeframes. We are seeing a slight reaction to the .618 @ $0.850794, however, I would prefer to see minimal continuation to the 1:1 @ $0.818548 to complete the potential Flat correction that has been unfolding. A more confident entry for this setup would be at the 1:1 before aiming for the ATH. This setup is not invalidated until a breach of the previous low - but a break below $0.76 should raise potential concern of continuation deeper to the downside. The more conservative target would be the 1.618 near the ATH. A more bullish target would be the 2.236 for a completion of the 5 wave structure.
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