Cardano: New Low or Off We Go?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.
