Cardano (ADA) Price Plunge Not Over Yet, Predicts Crypto Expert: Unveils Potential Bottom Value

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Cardano, a popular altcoin, has shown strong momentum above $0.45, sparking expectations of a potential rally. However, some analysts predict a further price crash.
A crypto analyst, ‘More Crypto Online’, suggests that Cardano is in its 3-wave corrective rally, according to the Elliot Wave Theory, and is due for a bearish fourth wave.
Despite the bearish outlook, Cardano’s daily trading volume has increased by almost 17%, indicating a potential bullish trend.

Cardano’s price trajectory sparks debate among analysts, with some predicting a further crash while others point to bullish signs. The altcoin’s future hinges on the completion of the Elliot Wave Theory’s fourth wave.

Cardano’s Potential Price Crash

‘More Crypto Online’, a crypto analyst, has suggested that Cardano’s price is poised for a decline. According to the Elliot Wave Theory, which consists of five waves – three bullish and two bearish – Cardano is currently in its 3-wave corrective rally. The analyst believes that Cardano has only completed three waves so far, indicating that a bearish fourth wave is imminent. With the altcoin’s price falling below the $0.48 support, the analyst predicts a further price crash, potentially as low as $0.42, before a recovery.

Cardano’s Bullish Fifth Wave

Despite the predicted price crash, the completion of the fourth wave could pave the way for the fifth wave, which is the most bullish of all the waves. This could potentially see Cardano’s price surge past $1. How... Read the full article for FREE at COINOTAG!