Beware, it’s not good news for the ADA cycle

Cardano analyse: pas op, geen goed nieuws voor ADA koers

Crypto Insiders receive daily fresh cryptocurrency technical analysis in our Discord environment. In this article, we share an up-to-date analysis of gimbal (ADA) from our premium collection. If you are not a member yet or if you still have questions after reading this article, Try Premium completely free for 30 days.

The latest Cardano news

ADA price technical analysis

Despite a slight increase last night, Cardano, like most other cryptocurrencies, is in the red this week. The ADA rate It has started to move in an increasingly narrow range in recent days, and the support is currently holding around $0.325. However, Crypto Insiders fear that ADA will continue its downward trend quickly, explaining in a recent analysis as follows:

“ADA unfortunately looks bearish at the moment. On the chart we see a bigger Elliott wave formation of 12345 forming in a downtrend, and the price is now in the fifth and final wave. This last wave might bring the price to the area around 161.8% Fibonacci or $0.246.

The ADA is currently still in what is called the hog territory. We do not recommend trading in this area, because it is not worth it based on the risk/reward calculation. It is wise to wait patiently for the price to reach the green buy zone.

When this moment follows, and how the price will continue after that, we will be sharing fresh analysis in our Premium environment for Crypto Insiders as soon as possible.”

The above ADA analysis was shared with members on November 17, 2022, and therefore may be out of date. In the Premium environment, we keep all analytics up to date.

Perhaps also an interesting analysis

Yesterday morning we published an article That analysts can read that too bearish about ripple (XRP). According to analysts, XRP is still declining significantly over the medium term. However, there is light at the end of the tunnel. After this fall, the price of XRP may start to rise again.

Buy or sell Cardano (ADA)?

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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 advice provided on this site is based on the insights and experiences of our analysts. So, these are for educational purposes only.

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