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Crypto

Cardano Price Setup Bullish Wave 3 Advance Imminent

Guavy AI Editorial Team
Instruments
ADA
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Cardano's price has been recovering from its recent low, and analysts believe it may be building a bullish setup. According to More Crypto Online, the current 4-hour chart could represent a five-wave advance, which would leave Cardano in a bullish wave 1-2 structure.

The analyst predicts that if ADA completes its pullback within the support area of $0.197-$0.214, it may begin moving higher and potentially break through the resistance zone of $0.228-$0.241.

If this happens, More Crypto Online's wave 3 scenario towards approximately $0.27-$0.28 becomes more likely. However, if ADA breaks below $0.197, a wider corrective move could occur.

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