Cardano ADA Further Correction Coming
If there is a breakdown of Bullish Trendline (Bottom of Wedge) then the correction target would likely be around $1.80. As long as the $1.80 level holds as support, a move back to the upside is very likely to retest the broken structure.
We see a 5 wave up followed by a potential ABC correction pattern. This is in line with the rising wedge bearish pattern it is trading in. We are also seeing higher highs in price and lower lows on the RSI showing a loss of momentum. All suggest further correction towards the 200MA where we see a significant separation. A break below the Bullish Trendline will likely validate the analysis; not before.
Support ~1.89 - 1.80
We see a 5 wave up followed by a potential ABC correction pattern. This is in line with the rising wedge bearish pattern it is trading in. We are also seeing higher highs in price and lower lows on the RSI showing a loss of momentum. All suggest further correction towards the 200MA where we see a significant separation. A break below the Bullish Trendline will likely validate the analysis; not before.
Support ~1.89 - 1.80