Cardano - Long-term EW-Analysis
This chart represents our primary long term expectations for Cardano.
Between early 2018 and 2020, Cardano established a one-two structure in yellow, which forms the foundation of our analysis. Following the completion of this sequence, the coin advanced into a second one-two setup in green, with the corrective green Wave 2 concluding by the end of 2023.
From there, Cardano initiated yet another impulsive cycle at a lower degree. This third one-two structure in light bluesets the stage for a full five-wave advance that will ultimately unfold into green Wave 3.
After completing the light-blue one-two structure, we defined a Fibonacci extension target zone for the upcoming light-blue Wave 3:
- 161.8% extension at 2.21 USD
- 261.8% extension at 3.27 USD
We expect Cardano to complete its light-blue Wave 3 within this range before continuing its advance into green Wave 3. Once green Wave 3 is finished, a corrective green Wave 4 and a final impulsive green Wave 5 are likely to follow, collectively completing yellow Wave 3.
For this higher-degree yellow Wave 3, we have projected an additional Fibonacci extension target zone:
- 161.8% extension at 5.25 USD
- 261.8% extension at 8.33 USD
Trading Plan:
For the long-term outlook, patience is key. We recommend waiting until Cardano reaches the target zone for light-blue Wave 3. From there, we will provide a new Fibonacci retracement zone for the upcoming corrective light-blue Wave 4, which could offer an attractive buy opportunity to rejoin the broader bullish cycle.
This outlook reflects our primary expectation for Cardano`s long-term performance. Always ensure that you review our long-term projections first before moving on to our mid- and short-term Elliott Wave analyses.
