Foreign Welcome to another update video about Cardano in this video we take a look at The short term but also the long-term Wave count a lot of people always ask or Regularly ask for the long-term targets So we take a look at the let's say the Targets for the next all-time high for Ada but we start with the lower level Wave County the lower level price action I would really like to see here at least One more low for Ada I think it would be Good to reach the 88.7 FIB level which Is sort of in the region between 29 and 30 cents we've we've missed that briefly And so my view is still that ideally we Are going to see here one more low and This could however depending on how we Count this this could come down all the Way down maybe even to 15 cents now Don't necessarily see that but at the Moment what I can tell you when we're Coming here from a downtrend what I can Tell you is that the price hasn't done Enough yet to convince me that a low is Already in the overall price structure For me is not yet convincingly bullish So I'm still looking here at one more Low ideally however I would personally change my view should We be able to move above the 41.1 Cent level here the 78.6 percent Fibonacci retracement level because as Soon as we get above the 78.6 FIB level
Um it is rather unlikely that this is Still a move down yeah and then we are Retracing more than it would be ideal And then it is most likely something Different or we can at least be Carefully a little bit more bullish Right but overall I mean to really prove And you know act as evidence that it Lowers in for Ada a lot of things need To happen but that's um you know stuff For the future at the moment we're Focusing here on the lower level wave Count and yeah I'm still looking at a Possible way three down in which we Might be that there are other Possibilities but they are not that Relevant it is relevant to what's Happening now in the very short term And um what we can see is that the Choppy price action to the upset he is Not really impulsive yeah so this could Possibly well there are This could become an Impulse Um but it would mean that we are Currently here in this C wave so if we Say okay we get one more low then it Would be quite likely that what we are Seeing here is just a wave a up due to The three wave price structure a wave B Down which is all which was also a three Wave structure and the wave C is Currently unfolding and then we would Come down Um with this wave C it's obviously a
Five wave move we could say that we have Seen already a wave one two setup made You aware Um we're currently holding here the Channel support that we're now in the Third wave Target for the third wave I Can give you as well That would be around 36 and a half cents And then we would be in this third wave We have another one two set up here so Afterwards we should get away three over Wave three but only as long as we are Really holding the um ideally the Channel support but more importantly we Need to hold the wave too low here at 32.1 cents I think if we go below 32.1 Cents then we're coming down First support around 29 to 30 cents so Nothing has changed really again Evidence that we are in something let's Say well not that we are in something Bullish but that we are really in this C Wave in my opinion will be uh obtained If when we get to that Wave 3 Target Here that I just mentioned and then Obviously when we see five waves up as Soon as we see five waves up here we Need to be on the side of caution Because that means that the wave pattern Is exhausted and that we could very well Then come down here already in um in a Wave to the downside and make a lower Low and ideal Target for me would be the Let's say 29 to 30 Cent level but it
Might really also go lower because many Coins have actually dropped below that Key level and uh yeah Ada might not be An exception here but what you need to Understand is that this is a key support Level that's 29 to 30 level and should We really get above that 41.1 level in This C wave then it's most likely not a Wave C anymore and then we could look at Something more bullish but even then Because we have made a new low here Um no we haven't no we haven't made a New law but well then I would have to Count as some kind of a one two setup With the wave one though being a three Wave move which means This move down here would then have to Be away three also as a three wave move Because then I would count all of this As a leading diagonal but You know to keep it simple I gave you The key levels that are really of Relevance here and in terms of an Overall Target for the C wave I think we Can look here at something around the 38 Cent level the high of the wave a Um generally If we now go to the four hour chart Which is a bit more meaningful than the One hour Um You can see that we are not really Pushing higher in momentum here so it's Really really slow at the moment and you
See that means boring price action at The moment after last week was really Really a lot of action in the market but Um yeah I mean look at just look at the Macd it is sort of losing bullish Momentum again it's sort of hovering Sideways the RSI also can't really push Above 50 so that is not really a lot of Certainty in the market and it's rather Sideways actually I mean we are at the Moment constrained in the channel and we Just need to wait for a breakout here I Mean at the moment again this could be a One two setup basically a solid trade Setup here in the c-wave but it would Need to be Obviously it would need to hold the low Here which is the 32.1 Cent level and The stop loss would need to sit Somewhere below that in my opinion of Financial advice now let's take a look At the longer term price action because A lot of people asked for Price targets for the next all-time high Um this is a chart in which I only focus On the short-term price action normally So haven't labeled the long-term chart Here but the view is that this year was A larger wave one which peaked back in May and then we had an a overshooting Wave B and the C wave in a wave 2 in Which we probably still are and based on This assumption we can actually Calculate a price Target now and we do
This by taking that low it doesn't need To be 100 exact but just to give you Some kind of a guideline here and the Target would take us to around four Dollars and 35 as a minimum Target in The next all-time high provided Ada Will Survive which I think it will but that's Only my view Um but that is the Target in the next Time high if we get a new all-time high It should get there at the very least Normally sort of in the region between The 1.618 and the 200 extension and then We should get that would be away three a Large away three then there should be a Wave four down and the way 5 up and that Would then take us even higher maybe Sort of in the region around six dollars And 85. okay and this might update about ADA I hope you like the update if you Did please hit the like button leave a Comment and subscribe and if you really Like the content then please check out The channel membership thanks a lot for Watching bye