Cardano Elliott Wave cycles approaching the top

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Cryptocurrencies are still at the strong resistance zone, but we are not sure if intraday resistance is already in place, so at this stage we are tracking two interpretations on some of the major coins.

As per Elliott Wave analysis, Cardano (ADA/USD) is in final stages of wave (5), now finally touching 3.0 level with room even up to 3.5. However, keep in mind that we are in the target zone, so a reversal down into a higher degree correction may occur anytime soon.

ADA/USD 4h Elliott Wave analysis chart

ADAUSD


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