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Cardano Price Analysis: Downward Trend Predicted on All Time Frames

Is A DUMP COMING For CARDANO ADA?
Is A DUMP COMING For CARDANO ADA?

In a recent video, JB discusses Cardano’s price analysis on different time frames, predicting a downward trend. The analysis covers 1-hour, 1-day, and 1-week time frames, using Elliot wave theory to project price targets.

1-Hour Time Frame

On the 1-hour chart, Cardano is currently correcting to the downside, expected to test the 1-hour equilibrium. JB also identifies a potential fifth wave to the downside, which could lead to further price declines.

1-Day Time Frame

The one-day chart suggests a bearish outlook, targeting a new bear market low. JB notes that Cardano is currently trading below all major moving averages, which is a bearish sign.

1-Week Time Frame

The weekly chart predicts continued downward pressure, targeting lower prices. JB notes that Cardano is forming a descending triangle pattern, which is a bearish reversal pattern.

Discord Community and Website

The video also highlights a Discord community and a website offering trading insights and tools. JB encourages viewers to join the Discord community and visit the website for more information.

Disclaimer

JB emphasizes that the information in the video is based on their own opinions, and they are not a financial advisor. Trading advice should come from a professional financial advisor.

Conclusion

JB predicts a downward trend for Cardano on all time frames. This is based on their analysis of Elliot wave theory and the current price action. JB also encourages viewers to join their Discord community and visit their website for more trading insights and tools.

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