Cardano: In Wave [v]

14 Nov

From the low of the orange wave [ii] on November 4 to the peak of the subsequent orange wave [iii] last Sunday, ADA surged by more than 100%. The brief pullback in the orange wave [iv] was caught by our now grayed-out Target Zone. Currently, the orange wave [v] should be underway, potentially pushing the price well beyond the $0.65 resistance level. However, there remains a 33% chance for a bearish short-term alternative scenario. In this case, an imminent sell-off into our green Target Zone between $0.44 and $0.35 would occur. This would imply that ADA completed its orange five-wave upward structure at the $0.65 resistance and has already entered the subsequent corrective green wave alt.2.