Photo by Executium on Unsplash
 

Cardano with ticker ADAUSD is one of those coins, where correction within wave B can take more time before we will see further rally within higher degree wave C. It's ideally trading within a deeper three-wave (A)-(B)-(C) zig-zag correction due to recent five-wave drop from the highs into wave (A). However, we may now see some corrective recovery within that wave (B), which can retest 0.50 – 0.60 resistance zone before we will see another decline for wave (C) of B.

For more analysis like this from different markets, you may want to watch our latest recording of a live webinar streamed on July 01, 2024.

Video Length: 00:35:24
 

More By This Author:

Bitcoin Is Still In A Corrective Phase
Gold Keeps Consolidating Within A Higher Degree Correction
USDJPY Hits New Highs, But New Resistance May Not Be Far Away