TradingShot
--
CARDANO Mega rally starting first to $3 then top expected at $5
Last time we looked at Cardano (ADAUSD) we gave a confident medium-term buy signal (November 18 2024, see chart below):
Today, having seen a very strong closing to the year last week and especially since the price bounced off the 1W MA200 (orange trend-line), we are making a long-term call towards the top of the Cycle.
Technically ADA's historic pattern is a Channel Up and if we draw its Fibonacci levels, the price is currently within the 0.5 - 0.618 range. That is exactly where it was during the same stage of the previous Cycle in January 2021. As the 0.5 Fib held, once it closed a 1W candle above the 0.618, the price skyrocketed to the 0.786 Channel Fib and tested the previous All Time High (ATH).
We can see the amazing symmetry between the Cycles on the 1W RSI fractals too. As a result, our next immediate Target for ADA is near the previous ATH at $3. Beyond that, we expect the Cycle to top at $5, which is marginally below the 1.236 Fibonacci extension, which was where the August 2021 Cycle Top was priced.
Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea!
#Cardano #ADA #ADAUSD #ADAUSDT #signals
Today, having seen a very strong closing to the year last week and especially since the price bounced off the 1W MA200 (orange trend-line), we are making a long-term call towards the top of the Cycle.
Technically ADA's historic pattern is a Channel Up and if we draw its Fibonacci levels, the price is currently within the 0.5 - 0.618 range. That is exactly where it was during the same stage of the previous Cycle in January 2021. As the 0.5 Fib held, once it closed a 1W candle above the 0.618, the price skyrocketed to the 0.786 Channel Fib and tested the previous All Time High (ATH).
We can see the amazing symmetry between the Cycles on the 1W RSI fractals too. As a result, our next immediate Target for ADA is near the previous ATH at $3. Beyond that, we expect the Cycle to top at $5, which is marginally below the 1.236 Fibonacci extension, which was where the August 2021 Cycle Top was priced.
Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea!
#Cardano #ADA #ADAUSD #ADAUSDT #signals
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
