Hi Elliotticians, Cardano can be trading in a downtrend on the 30min chart from 1.245 lvl. Waves i-iii can be completed, which means current sideways and choppy movement can be part of a correction in wave iv, with possible resistance at the Fib. ratio of 0.382, and at the upper corrective parallel channel line.
If price starts impulsively dropping from current levels and beneath current low, then correction may already be completed at the 1.10 lvl, and wave v underway OR in case of an alternate scenario a new five-wave move for a wave iii.
I labelled a complex pattern to still be underway in wave iv, which means one more rally above the 1.10 lvl., before a reversal lower, into wave v of the primary view.
Trade well.
If price starts impulsively dropping from current levels and beneath current low, then correction may already be completed at the 1.10 lvl, and wave v underway OR in case of an alternate scenario a new five-wave move for a wave iii.
I labelled a complex pattern to still be underway in wave iv, which means one more rally above the 1.10 lvl., before a reversal lower, into wave v of the primary view.
Trade well.
