Cardano (ADA) got a tip of $ 0.86 before moving higher

– Gann analysis is an advanced form of technical analysis that can be used to identify trends and forecast future price levels.

– Gann’s geometry plays a subordinate role, time is the most important factor in the Gann analysis

– See also: Cardano (ADA) hits $ 5? Probably – cryptocurrency price prediction

Weekly chart analysis by Cardano (ADA)

Above: Cardano (ADAUSD) weekly chart

Anniversary dates in Gann’s work play an important role. Gann wrote that we need to be careful about when all-time highs and lows have formed because they will most likely be important in the future. Take a look at a financial instrument and you will see for yourself how accurate Gann was with this market watch. The blue vertical lines represent the date of the previous all-time high for Cardano, which was found in the first week of January 2018. All other blue vertical lines are placed in the first week of January. In 2019 and 2020, Cardano was trading at or near the all-time low in the first week of January. In January 2021, Cardano extended the highs from the 2020 highs in December 2020.

Above: Cardano (ADAUSD) daily chart

best exchange rates todayThe above daily Cardano chart shows various swing day counts of major swing highs and lows. The first major cycle since the Covid crash low in March 2020 is the 130-day cycle, which ran from March 13, 2020 to the swing high on July 27, 2020. 130 days is close to the 135-day cycle that Gann said was likely to be a high, which would end a guideline pattern and lead to rapid changes in trends. We did not get a quick trend change, instead we saw the price consolidate and move slightly down over a period of 58 days (no Gann cycle). Then we will reach our current date from September 23, 2020 to our current date and complete a 180-day cycle. The 180-day cycle in Gann’s inner year cycles is the second strongest and most important cycle. It is often a turning point for trending markets. The 180 day cycle has a high probability of finding support or resistance during this period. It can stretch to 198 days if the trend has had extreme momentum (which Cardano has).

Below the highlighted main level you will see four orange measured lines that start at the Covid crash lows. The four Gann cycles measured are the 250, 270, 315 and 365 day cycles. We have just completed a 365 cycle versus an inner 180 day cycle. Both the 365-day and 180-day cycles end near the Gann seasonal date on March 22nd (spring). This confluence of time zones indicates a market that has completed its run and must now decide which direction to move. Obviously, since the trend is bullish, we should see higher prices. But I’m looking for a short term corrective action.

From the last all-time high on February 27, 2021, I measured 90 days until May 28, 2021. For the next 49 to 99 trading days (between April 17th, 2021 and June 6th, 2021) I would expect Cardano not to move below its average retracement range of 40-45%, which Cardano has to the value range of Would bring $ 0.86.

Synopsis: Look for Cardano to trade near $ 0.86 between April 27, 2021 and June 6, 2021 before continuing a higher move.

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