📍 Current Setup:
B-wave low formed on 2nd August
Tracking a five-wave move up from that low
Fifth wave currently unfolding, boosted by CPI news
📊 Key Levels:
Short-term Upside Targets:
$0.852 – $0.870 (ideal 5th wave target zone)
$0.855 – previous swing high from 28 July
Early Pullback Signal:
Break below $0.805 (50% Fib retracement) could mark start of Wave 2 correction
Wave 2 Support: To be defined once local top is confirmed, expected higher low formation
📈 Scenarios:
Bullish: Push to $0.87 region before corrective pullback, maintaining higher low above $0.805
Corrective: Drop below $0.805 could signal start of Wave 2 retracement before next major upside leg
💡 Market Takeaway:
$ADA has delivered strong performance, respecting support and pushing toward key resistance levels. Short-term grind higher still likely, but traders should watch for signs of a corrective pullback in Wave 2.
#ADA #Cardano #CryptoUpdate #Altcoins #ElliottWave #BinanceSquare
