Also shown on this chart is the long term trendline of Cardano which is also present on the Daily tf. Closing below this trendline is another reason to believe that the sell off will continue in Cardano.
The blue lines marked on the chart show the area that support naturally exists for Cardano i.e. between 0.00002621 and 0.00002178.
Wave Y also = 100% Wave W at ~ 0.00002768. This is indicated by the orange line on the chart. The 100% projection of Wave Y based on wave W is an acceptable projection for a WXY structure. Therefore this increases the chance that the sell off in Cardano will target this .
If Cardano reaches this support area and price consolidates in the support area, it is likely that Cardano will resume an impulse move back upwards or at least a
3 wave move upwards. Either scenario calls for a price swing back up for Cardano