š Cardano ($ADA ) Market Update ā Tracking 5-Wave Move š
ADA is forming a potential 5-wave move up in a leading diagonal pattern from the recent B-wave low. The third wave has already reached the 138% extension target, and we may now be in Wave 4.
š Key Levels to Watch:
Wave 4 Support Zone: $0.784 ā $0.769 ā $0.755 (preferred bounce area)
Structural Support: $0.740 (micro level)
Invalidation Point: $0.710 (Wave 2 low)
Upside Target if Wave 5 forms: $0.852 ā $0.870
š Structure & Elliott Wave View:
Diagonal pattern allows deep Wave 4 pullbacks without invalidation until $0.710.
Break below $0.755 = caution; below $0.710 = pattern invalidated.
One more high in Wave 5 would complete the diagonal and confirm a trend reversal from the low.
After completion, expect Wave 2 pullback ā likely a higher low before next rally.
š” Summary:
Trend structure still bullish while above $0.755ā$0.710 zone.
Wave 5 completion could give $0.852ā$0.870 target.
Break below $0.710 = bullish pattern fails.
#Cardano #ADA #Crypto #MarketUpdate #PriceAction #BinanceSquare #ElliottWave #cryptotrading
