$ADA Update – Post-Impulse ABC Correction Underway

#ADA has completed a clean 5-wave impulse up to ~$0.667, and is now unwinding into a ABC correction. Price is currently hovering at ~$0.635 with more downside likely in the short term. 👇

🔹 Elliott Wave Structure:

✅ Wave (1) → (5) completed at the local top

🔄 Wave (a) hit with strong momentum

📉 Wave (b) was weak — lower high

🔽 Wave (c) is now expected to target the 0.618 Fib at ~$0.6187

📊 Key Technical Zone:

Target support for Wave (c): $0.6187

This aligns with Fib + previous demand zone = high-probability bounce area

If $0.618 holds, next impulse leg may resume toward $0.68–$0.70+

⚠️ Invalidation:

Drop below $0.615 = structure breaks

Wait for bullish confirmation before entering

Let the correction complete — catching Wave (2) to Wave (3) is where smart money plays.