Cardano (ADA) Technical Analysis Update:
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ADA is rising in a five-wave pattern, with wave 4 complete and wave 5 targeting 94-95 cents. Key levels:
- Support: $0.63 (corrective pullbacks), $0.72 (larger wave 4 pullback)
- Resistance: $0.94-$0.95 (immediate), $1.04 (higher target)
Technical observations:
- Elliott Wave triangle scenario confirmed
- Fibonacci extensions support 94-95 cents target
- Rally follows expected patterns
Future projections:
- Larger pullback expected after five-wave completion
- Upward trajectory possible if support holds
Trading advice:
- Monitor $0.72 support for bullish thesis confirmation
- Watch $1 resistance for potential profit-taking