Cardano: Target Zone Reached

Cardano entered our blue Target Zone between $0.73 and $0.49 during the recent sharp sell-off but quickly rebounded above its upper boundary. While it’s entirely feasible that the low of the blue wave (ii) has already been settled, another dip to finalize this intermediate correction remains possible. Once wave (ii) has indeed found its bottom, the blue impulse wave (iii) should take over and drive the price above the resistance at $1.32.