{"id":604453,"date":"2024-04-22T22:00:40","date_gmt":"2024-04-22T22:00:40","guid":{"rendered":"https:\/\/wncen.com\/?p=604453"},"modified":"2024-04-22T22:01:20","modified_gmt":"2024-04-22T22:01:20","slug":"cardano-abc-wave-completion","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/cardano\/cardano-abc-wave-completion\/","title":{"rendered":"Crypto Analyst Predicts Cardano Recovery After ABC Wave Completion, Here\u2019s The Target"},"content":{"rendered":"

Cardano suffered a massive price crash<\/a> over the last two weeks. However, with the market recovery, the ADA price has begun to see some positive headwinds. Analysts expect this recovery to continue, with one crypto analyst in particular, who goes by CobraVanguard, expecting a bullish continuation toward $1.<\/p>\n

Cardano Completes The ABC Wave<\/h2>\n

The crypto market crash, led by Bitcoin, saw the prices of Cardano<\/a> and other altcoins plunge into a dreaded ABC wave. This wave is notorious for causing massive dips to the tune of 50%, leaving investors in losses in its wake.<\/p>\n

Related Reading: Ethereum Enters Accumulation Phase As $500 Million ETH Leave Exchanges<\/a><\/div>\n

The crypto analyst revealed<\/a> that Wave A had taken place when Cardano had fallen from $0.8 to $0.57, and then Wave B saw the recovery from $0.57 to $0.68. The third and final wave, Wave C, saw the price crash from $0.77 to $0.4 before bouncing upward once again, signaling the completion of the ABC wave.<\/p>\n

As with all other crashes, there comes a time when the ABC wave is over, and the price of an altcoin can recover, and it seems Cardano has entered this range. The price of the altcoin<\/a> has since recovered above $0.5, with the bulls now taking control.<\/p>\n

From here, the analyst expects the recovery to continue and rally with a new wave. \u201cAfter the fifth bullish wave, Cardano has completed his corrective waves (ABC) and now he has reached the end of the wedge, now it is time to start the five bullish waves,\u201d CobraVanguard said.<\/p>\n

\"ADA<\/p>\n

Source: Tradingview.com<\/pre>\n
ADA Price Targets<\/h2>\n
CobraVanguard outlines a number of reasons why they believe that the Cardano price <\/a>is going to be bullish. Firstly, they outline an ascending structure of the chart, which suggests a bullish continuation. Next is the bullish wedge that is forming in the chart. Also, high-potential areas are becoming clearer in the chart, as the analyst outlined.<\/p>\n
Related Reading: Battle For The Halving Block: Bitcoin Users Spend Record $2.4 Million On Block 840,000<\/a><\/div>\n
In the first wave, the analyst outlines a possible jump to $0.77. From here, they expect that the price will retrace a bit to $0.64 before resuming the uptrend. However, the analyst takes a more conservative stance compared to other analysts<\/a> about the top, putting it somewhere around $1.09.<\/p>\n
The analyst further pointed out that in a situation where the wedge were to break down, it could invalidate this, and possibility lead to a decline in price. \u201cNote that if the WEDGE is broken down with the power of descending candles, our analysis will fail,\u201d CobraVanguard concluded.<\/p>\n
\"Cardano<\/p>\n
ADA price at $0.5 | Source: ADAUSDT on Tradingview.com<\/a><\/pre>\n
Featured image from CoinGape, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Cardano suffered a massive price crash over the last two weeks. However, with the market recovery, the ADA price has begun to see some positive headwinds. Analysts expect this recovery to continue, with one crypto analyst in particular, who goes by CobraVanguard, expecting a bullish continuation toward $1. Cardano Completes The ABC Wave The crypto market crash, led by Bitcoin, saw the prices of Cardano and other altcoins plunge into a dreaded ABC wave. This wave is notorious for causing massive dips to the tune of 50%, leaving investors in losses in its wake. Related Reading: Ethereum Enters Accumulation Phase As $500 Million ETH Leave Exchanges The crypto analyst revealed that Wave A had taken place when Cardano had fallen from $0.8 to $0.57, and then Wave B saw the recovery from $0.57 to $0.68. The third and final wave, Wave C, saw the price crash from $0.77 to $0.4 before bouncing upward once again, signaling the completion of the ABC wave. As with all other crashes, there comes a time when the ABC wave is over, and the price of an altcoin can recover, and it seems Cardano has entered this range. The price of the altcoin has since recovered above $0.5, with the bulls now taking control. From here, the analyst expects the recovery to continue and rally with a new wave. \u201cAfter the fifth bullish wave, Cardano has completed his corrective waves (ABC) and now he has reached the end of the wedge, now it is time to start the five bullish waves,\u201d CobraVanguard said. Source: Tradingview.com ADA Price Targets CobraVanguard outlines a number of reasons why they believe that the Cardano price is going to be bullish. Firstly, they outline an ascending structure of the chart, which suggests a bullish continuation. Next is the bullish wedge that is forming in the chart. Also, high-potential areas are becoming clearer in the chart, as the analyst outlined. Related Reading: Battle For The Halving Block: Bitcoin Users Spend Record $2.4 Million On Block 840,000 In the first wave, the analyst outlines a possible jump to $0.77. From here, they expect that the price will retrace a bit to $0.64 before resuming the uptrend. However, the analyst takes a more conservative stance compared to other analysts about the top, putting it somewhere around $1.09. The analyst further pointed out that in a situation where the wedge were to break down, it could invalidate this, and possibility lead to a decline in price. \u201cNote that if the WEDGE is broken down with the power of descending candles, our analysis will fail,\u201d CobraVanguard concluded. ADA price at $0.5 | Source: ADAUSDT on Tradingview.com Featured image from CoinGape, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":604494,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16896],"tags":[12333,89347,84005,14643,79508,167,12332,89230,12329,6664,26263,14690],"class_list":["post-604453","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cardano","tag-ada","tag-ada-news","tag-ada-price","tag-adausd","tag-adausdt","tag-analyst","tag-cardano","tag-cardano-news","tag-cardano-price","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\nCrypto Analyst Predicts Cardano Recovery After ABC Wave Completion, Here\u2019s The Target<\/title>\n<meta name=\"description\" content=\"Cardano suffered a massive price crash over the last two weeks. 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Crypto Analyst Predicts Cardano Recovery After ABC Wave Completion, Here\u2019s The Target","url":"http:\/\/wncen.com\/news\/cardano\/cardano-abc-wave-completion\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/cardano\/cardano-abc-wave-completion\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/Cardano_0850cb.jpeg?resize=200%2C174","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/Cardano_0850cb.jpeg?fit=290%2C174"},"articleSection":"Cardano","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ada","ada news","ada price","adausd","adausdt","analyst","cardano","cardano news","cardano price","crypto","crypto analyst","crypto news"],"dateCreated":"2024-04-22T22:00:40Z","datePublished":"2024-04-22T22:00:40Z","dateModified":"2024-04-22T22:01:20Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Crypto Analyst Predicts Cardano Recovery After ABC Wave Completion, Here\\u2019s The Target\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/cardano\\\/cardano-abc-wave-completion\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/cardano\\\/cardano-abc-wave-completion\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/Cardano_0850cb.jpeg?resize=200%2C174\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/Cardano_0850cb.jpeg?fit=290%2C174\"},\"articleSection\":\"Cardano\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ada\",\"ada news\",\"ada price\",\"adausd\",\"adausdt\",\"analyst\",\"cardano\",\"cardano news\",\"cardano price\",\"crypto\",\"crypto analyst\",\"crypto news\"],\"dateCreated\":\"2024-04-22T22:00:40Z\",\"datePublished\":\"2024-04-22T22:00:40Z\",\"dateModified\":\"2024-04-22T22:01:20Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/Cardano_0850cb.jpeg?fit=290%2C174","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/604453"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=604453"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/604453\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/604494"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=604453"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=604453"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=604453"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}