Cardano

ADA (Weekly) / Elliott Wave & Algo Technical Analysis

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ADA reached the 0.382 of the full retrace. The GZ of the 3D algo extension (blue fib) is aligned, which explains the recent bounce. The current weekly candle looks weak but is ending in 3.5 days. The red algo traditional series has been driving prices down since the ATH. Prices have been travelling through this downward channel. Most major altcoins seem to be in a similar situation. Most of them are in BTC's hands. EW speaking, ADA is quite frustrating because it was pretty clean to the upside but not to the downside. Lots of overlaps and noise.

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Common path in white, bullish count in green, bearish count in red.
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