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In this article, we share a recent analysis of cardano (ADA) previously shared in our Premium group. If you are not yet a member or if you still have questions after reading this article, try our Premium membership free for 30 days.
Technical analysis ADA rate
Cardano is running into resistance after this year’s massive surge, as Crypto Insiders analysts already noted in their previous ADA analysis had predicted. That means the ADA may soon start a correction, but that also offers another entry point, the analysts recently explained to Premium members:
“The price has reached the resistance zone and because several Elliott Wave counts end here, we expect a decline. We expect this decline to move into the green zone between 50% and 61.8% Fibonacci, with a rate between $0.2929 and $0.311.
We expect this because the price is forming the first wave of an impulsive 12345 Elliott Wave pattern through the upward movement. The fall that will follow is also referred to as the corrective second wave.
We can take advantage of this drop, as we can then consider entering at a more favorable time. So we ourselves will wait until the price has reached the green zone and by then we will share a new analysis in the Premium group.”
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