📈 Cardano ($ADA ) Market Update – Bulls Defend Wave 4 Support 📈

Cardano has been following the projected Elliott Wave structure exactly as expected over the past week.

From the 1–2 setup last weekend, ADA rallied in a Wave 3 move, hitting the first ideal target for a third wave.

Price is now consolidating in Wave 4, with the support zone holding firm.

📊 Current Key Levels

Wave 4 Support Zone: $0.754 – $0.784 (ideal for a bullish reversal)

Critical Support: $0.751 → break below increases risk of deeper pullback

Resistance (Previous Swing High): $0.857 (July 28 high)

🎯 Wave 5 Bullish Targets

Ideal range: $0.852 – $0.871

Possible overshoot above $0.857 before resistance kicks in

⚠️ Structure Notes

Wave 4 so far has lasted only 1 day, while Wave 2 took several — more downside in Wave C of Wave 4 remains possible before continuation.

Fifth wave likely to form in ABC structure rather than a clean impulse.

Once 5 waves are complete, expect a Wave 2 pullback for a higher low before the next major rally.

📌 Bigger Picture: As long as $0.751 holds, ADA’s bullish setup remains intact. A break of the $0.90 trendline will be the next major bullish confirmation.

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