Cryptocurrencies are still at the strong resistance zone, but we are not sure if intraday resistance is already in place, so at this stage we are tracking two interpretations on some of the major coins.
As per Elliott Wave analysis, Cardano (ADA/USD) is in final stages of wave (5), now finally touching 3.0 level with room even up to 3.5. However, keep in mind that we are in the target zone, so a reversal down into a higher degree correction may occur anytime soon.
ADA/USD 4h Elliott Wave analysis chart
Check more of our analysis for currencies and cryptos in members-only area. Visit EW-Forecast for details!
By using Wavetraders website, any services, products, and content contained here, you agree that use of our service is entirely at your own risk. You understand that there is a very high degree of risk involved in trading on the markets. We assume no responsibility or liability for your trading and investment results. The charts, and all articles published on www.wavetraders.com are provided for informational and educational purposes only!
By using the information and services of www.ew-forecast.com you assume full responsibility for any and all gains and losses, financial, emotional or otherwise, experienced, suffered or incurred by you.
Recommended Content
Editors’ Picks
Litecoin Price Forecast: LTC hits $130 for first time in almost three years as open interest soars
Litecoin price grazed the $130 mark on Monday, propelled by improved sentiment around privacy-focused coins after a United States (US) court reversed sanctions placed on Tornado Cash.
Bitcoin: $100K breakout or drop to $90K ahead of Microsoft’s BTC investment vote?
Bitcoin price retraces to $95,000 on Monday after recovering from last week’s pullback. MicroStrategy co-founder Michael Saylor explained a strategic approach to Bitcoin on Sunday.
Ripple surges to a six-year high just below $2.50
Ripple (XRP) price extends its gains, trading above $2.40 at the time of writing on Monday after rallying more than 60% the previous week and surging almost four times in November.
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC consolidates while ETH, XRP rallies
Bitcoin consolidated on Monday following its recovery from last week's pullback. At the same time, Ethereum and Ripple extended their rallies, driven by investors reallocating capital from BTC to altcoins, signaling the potential for continued upward momentum.
Bitcoin: A healthy correction
Bitcoin (BTC) experienced a 7% correction earlier in the week, dropping to $90,791 on Tuesday before recovering to $97,000 by Friday. On-chain data suggests a modest rebound in institutional demand, with holders buying the dip. A recent report indicates BTC remains undervalued, projecting a potential rally toward $146K.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.