Cardano ADA Continues Outperform The Market In January

Hello, Skyrexians!

In our recent analysis on ADAUSDT we predicted the price growth above $1.20 when the price was $0.37. When price reached the $1.30 we told you that it's time for retracement to $0.8. Cardano reached exactly this target and has already bounced. You can find all this predictions in this article. Now it's much more important to understand what is the next move.

Let's take a look at the daily time frame. After reaching the local top price has printed red dot on Bullish/Bearish Reversal Bar Indicator [Skyrexio] and dumped -40%. As always, alerts from this indicator are automatically replicated on my accounts. You can find the information in our article on TradingView.

Dump has been stopped inside the Fibonacci 0.5 zone with the green dot on this indicator. This is the strong sign that corrective wave 2 has been finished. The next target is 1.61-2.61 Fibonacci extensions. We suppose that price can reach $2.5-$3.5 in January-February 2025.

Best regards,
Skyrexio Team

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