CARDANO Daily Chart Analysis (March 21, 2021)

Looking at the Daily Chart, you can see that CARDANO finished 4 waves up and currently forming its 5th wave. You know that we cannot determine the exact length of wave 5 as it can be equal to wave 1, 161.8% of wave 1, 200% of wave 1, or 261.8% of wave 1.

In our case here, using the Fibonacci Retracement tool, I expect to see wave 5=200% wave 1 and reach the 1.59333 critical area before starting its deep ABC correction to retest the previous wave 4 at the 1.00000 level, and then possibly go back up with a new impulsive wave. Keep in mind that trading is all about probabilities and that nothing is 100%.