ADA at a Breaking Point: Will It Skyrocket or Crash?

Yello! Are you ready for what’s coming with #ADAUSDT? The price action is heating up, and the next move could be explosive. #ADA is showing signs of a critical Elliott Wave structure, and what happens next will determine whether we see a massive rally or a sharp drop. Let’s dive into the analysis.

💎#CARDANO has just completed a strong impulsive 5-wave structure, topping out around $0.8211. At this peak, we’re seeing a double top formation with corrective Wave B, which is often a bearish reversal signal that’s exactly what’s unfolding now with an ABC correction pattern. The price is currently in Wave B of the correction, gearing up for a potential drop towards Wave C.

💎The critical level to watch is the Golden Pocket Zone (FIB 0.168) around $0.7430. This zone is crucial because if #ADAUSD holds this level, it could trigger a strong bullish reversal that sends the price towards the $0.8240 Supply Zone.

💎However, if ADA fails to hold momentum at the FIB 0.168 level and closes below it, we could see it dropping further, potentially targeting the imbalance and bullish OB zone at $0.7089.

💎Before entering a trade, we add confirmation such as ensuring the RSI and MACD form a bullish divergence. If they do, that means the Wave C correction has ended, and a new Elliott Wave structure is on the way, offering a long opportunity.

What’s your take? Will ADA bounce or break down? Share your thoughts below! 💬

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