Cardano (ADA): Very Three Wavish

in #cardano7 years ago (edited)

SUMMARY

Cardano is number 6 in market cap according to Coinmarketcap.com and in every which way, it's counting as a three wave bounce. The below chart shows the corrective waves with the red abc showing primary pathway and the blue abc as the alternate and that would call for a one more lower low potential. That means price needs to resolve the direction and most likely it'll follow Bitcoin.

Closeup shows that the bounce has ben an abc, difficult to count into a five impulse (purple). The subsequent red abc seems likely given that an impulse up has been difficult to locate. The white Elliott Waves show the pathway to a proable lower low. Could an Altcoin generate a lower low while Bitcoin rises? Yes, I've seen this during the July and Sept corrections of 2017.

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So after lower low,, what will come next? anyone knows? i'm curious

wow... don't know what is going on in the comments here! I am very hopeful about cardano, I am holding until the cows come home or whatever sappy sweet colloquialism you like! I believe in this project and it is a long term , 3 to 5 year at least , hold for me. So, I try not to get too excited, or worried, about cardano week for week. In three years I believe this will be a top three crypto, having replaced Litecoin.

Converting Cardano to Lambo in 2022 :D

That's a long time to wait:)

hope the wait will be worth it 😊

In 2012 evrething will be one lambo 😂

Thanx for the great research !

Coins mentioned in post:

CoinPrice (USD)📉 24h📈 7d
ADACardano0.397$-4.92%4.72%
BTCBitcoin10933.700$1.07%31.11%
EOSEOS9.728$-3.39%11.47%
QAUQuantum0.215$-3.53%11.67%
WAVESWaves7.894$2.75%41.23%

Could you please elaborate a bit more how Cardano could keep dropping for such a long time now?

Cardano at this stage is a long term hodl.