Cardano ADA Price News Today – Elliott Wave Technical Analysis and Price Now! Price Prediction!

Cardano ADA Price News Today - Elliott Wave Technical Analysis and Price Now! Price Prediction!

Foreign [Music] Ada is at the moment again a very very Messy chart it starts to develop Um a not very very positive chart Structure it's a chart structure that Ideally again Yeah where I'd like to see another law And we've talked about that anyway It has been primary expectation anyway To get another low here and it just Continues to look a bit rubbish because Um what has moved up from here from the Low It's just nothing reliable in terms of Any bullish counts yeah and the sideways Range here also it's just Something that looks a bit painful to be Honest Um we are hovering below resistance so We've got basically two main resistance Levels here on the chart we've got one Support area which is here between [Music] Um 30 cents and 30.8 cents and then we have A resistance area Where all the uh let's call it a Resistance level here at around 32 cents I'm gonna put that on the chart actually That's the first one and if we break Above that we can fairly easily I would Say get to the 33.2 Cent level all of these are not

Great jumps and um however they are Levels that need to be broken to enable Us for example to the upside to move Higher Um to then maybe around 35 cents and Then we talk about 38. in terms of key Resistance levels but my focus is Currently here on the downside Especially as long as we stay below the 33.2 Cent level which is this high From the the B wave high which we had Here and Um if you've watched the previous videos You will know that my assumption is that We still see new lows here because the Overall wave pattern suggests that we Are in this ending diagonal for Ada so That from the high which was made in may End of May Um we came down in a wave one we moved Up in a two we came down in three moved Up in the four end one more leg down Here in a way five and we are now in This fifth wave And in this fifth wave Or at least I counted in a way that I See this as an ABC And we've got here the Wave A Down The Wave b as a triangle and we could be in The wave C there's at least a good way Of counting it especially as we haven't Yet seen any you know any reversal to The upside that is unchanged from the Previous video so

There is no clear bottom signal in place Of course we have with the most recent Low here where we hit my support area And reversed we have hit the support Area we haven't made a new low this Could count as a possible reversal Pattern but it's not strong enough for Me to to really consider that to Um thoroughly yeah so my primary Expectation remains down especially as Long as we stay below 32 cents Um and then 33.2 right so Target to the Downside remains to be around the 27 Cent range That is the way three then there would Be a shallow Wave 4 and another way five Down into the region around 23 cents That is for me the most likely outcome Here again it's not a very reliable Count One more thing to mention here you can If you look at it that way we can Currently identify here a descending Trend line Which together with an ascending trend Line down there I could create Or does create some kind of a triangle Here Um now is this trend continuation Pattern or not it doesn't really matter Because we need to wait for the breakout Anyway but we are heading without a Doubt into some kind of an apex here and That usually leads to some kind of an

Impulsive breakout and if we look at This count and we say we asked it in This third wave down it would most Likely be a break out to the downside Just need to be you need to be ready for That Um but of course out of a trying the Price might go in any direction Important to know is it just because we Move up briefly it is not necessarily a Super bullish outcome until I really get A clear five wave structure to the Upside here and three waves down I would Assume further downside potential to the Levels that I mentioned there is of Course also a bullish a possible bullish Count That would assume that here on the 21st Of November when we made that low just Below 30 cents that this ended the bear Market low that is possible technically But it's just not very likely Um It's not very likely and I would see This here for example as a wave one to The upside then hero Wave 2 to the Downside and we could say from this low Here from the 28th of November We've moved up in another five wave Pattern and I mean you know with these Counts sometimes you you can I can give You all sorts of comments but they need To be reliable and As you know my my job is to um

Identify the most reliable wave counts But here this is an option to count it Bullish But again it feels a bit like hopium for Me Five waves up let me change the wave Degree here just briefly Five waves up that could count again as An as a wave one then we're coming down Now in wave two again but the problem With this count is if if this is Supposed to be a bullish count Then you have here a wave one a wave 2 We're now in the Wave 3 and within the Wave 3 you've got your wave one done we Come down in two yeah and but this would Be a leading diagonal this would be a Leading diagonal that is just extremely Unreliable it just is okay Um but you should now know the key Resistance support and breakout levels But maybe one last thing if we if we Assume this might be a bullish breakout Pattern what would be the key support so I don't want to release you Um without telling you that as well so There is a key support area in this case So this area worked out but Um for this particular case in terms of A bullish count it would be the area Between 31 and 30.4 cents so if we go Below 30.4 then this very very small Bullish option here Um would be basically very unlikely as

Well so keep an eye on the 30.4 Cent Level if we drop below that then that Would be a very good signal that we are Breaking down in my opinion but yeah That's really all I can tell you about ADA at the moment 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 [Music] Thank you

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