🔮 Crypto Analyst Predicts Cardano Recovery After ABC Wave Completion, Here’s The Target

Irma - Apr 23 - - Dev Community

After suffering a significant price crash, Cardano (ADA) has started to show positive signs amid market recovery. Analysts, including CobraVanguard, predict a bullish continuation with a target around $1. 📈

🌊 Completing the ABC Wave: Cardano experienced an ABC wave pattern during the market crash, with Wave A dropping from $0.8 to $0.57, Wave B recovering to $0.68, and Wave C crashing from $0.77 to $0.4 before bouncing back. This suggests the completion of the ABC wave cycle.

💼 Analyst's Predictions: CobraVanguard expects Cardano's recovery to rally further with new bullish waves, pointing to an ascending chart structure and bullish wedge formation. Initial targets include a jump to $0.77 and a retracement to $0.64 before potentially reaching around $1.09.

⚠️ Risk of Breakdown: The analyst warns that a breakdown of the bullish wedge could invalidate the bullish scenario, potentially leading to a decline in pri
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