A widely followed crypto trader is predicting further corrective moves smart contract platform Cardano (ADA) and one of this year’s trending altcoins.
Pseudonymous crypto analyst Capo tells his 307,500 Twitter followers ADA is poised for another leg down before it completes its five-wave downtrend, based on the Elliott Wave theory.
Fifth wave missing.
Main support is $0.30 – $0.35.”
The Elliott Wave theory is a technical analysis approach that attempts to predict future price action by following crowd psychology that tends to manifest in waves. According to the theory, an asset goes through a five-wave cycle before a major market reversal.
Capo says that ADA is about to complete its fourth wave, suggesting the coin is ready for a final flush. Cardano