Cardano - Mid-short-term EW-Analysis
This chart represents Cardano in its Mid-short term Elliot wave analysis, with our primary expectations for this market.
After completing its corrective light-blue Wave 2 (detailed in our long-term analysis), Cardano successfully established a one-two structure in dark blue. Building on this, the coin advanced further by forming an impulsive white Wave 1, and is currently retracing into white Wave 2 before continuing upward into white Wave 3.
For this upcoming white Wave 3, we have projected a Fibonacci extension target zone:
- 161.8% extension at 1.46 USD
- 261.8% extension at 1.89 USD
Within this zone, we expect white Wave 3 to potentially terminate, followed by a corrective white Wave 4 and a final white Wave 5. This entire white sequence will complete dark-blue Wave 3 at the higher degree.
For dark-blue Wave 3, we have also outlined a Fibonacci target zone, where the advance could eventually reach its peak:
- 161.8% extension at 2.15 USD
- 261.8% extension at 3.16 USD
Trading Plan:
A confirmed break above our local resistance at 1.02 USD (marked in neon green) would strongly support the bullish scenario, signaling that Cardano is likely to advance directly into our first white Wave 3 target zone. Until this level is surpassed, patience is essential as we await further structural confirmation and potential new buy opportunities for this coin.
Keep in mind:
This outlook reflects our primary expectation for Cardano`s Mid to short-term performance. Always ensure that you review our long-term projections first before moving on to our mid- and short-term Elliott Wave analyses.
