Cardano (ADA) price is showing new opportunities in the green after the decline

Cardano (ADA), known for its scientific approach, is the subject of this analysis. In this article we present a technical analysis from our premium environment with a price prediction for ADA for the coming period.

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Solana (SOL) price may rise again after reaching this support zone
 

Technical analysis of Cardano (ADA) price

ADA has fallen significantly recently. Nevertheless, the analysts at Crypto Insiders see new opportunities. They recently said the following in the premium environment:

“Cardano still shows promising prospects in the long term. However, if we focus on the short term, we see a different picture.

At this point, a corrective WXY Elliott wave pattern is visible on the chart. This pattern suggests that we are heading towards the 100% and 123.6% Fibonacci retracement levels, located between $0.34 and $0.39. Based on this analysis, we have marked a green buy zone.

We initially expect consolidation and ultimately an increase. Despite the current short-term downtrend, we remain bullish on ADA in the long term. We therefore see current developments as an opportunity to benefit from this future increase.”

Date of analysis: January 25th. Link to trading view:

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Disclaimer: Investing involves risks. Our analysts are not financial advisors. Always consult an advisor when making financial decisions. The information and tips provided on this website are based on our analysts’ own insights and experiences. These therefore serve exclusively educational purposes.

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