CARDANO ADA PRICE PREDICTION OCTOBER 2021 | CRYPTO NEWS TODAY
Welcome back to cheeky crypto today were going to be diving into the world of cardano and specifically talking about the price action of ada, see whats happening in the last 48 to 24 hours, see what we think is likely to happen, and next with ada and where We think things are going a slightly longer term guys as we get into this, if you find it useful, informative hit that like button, i really do appreciate it if you happen to be new to the channel or why not go ahead and subscribe tap that bell Select all notifications – and in doing so you will be kept up to date with absolutely everything that we do here. Right with. That said, done out of the way, lets jump right on into this chart and see exactly whats going on were only going to be doing this briefly today, um so were going to be taking a look at the daily and the hourly well skip the weekly. For now, okay, but we can of course see the five impulse waves and weve been following for for a while, now and again, everything kind of moving up nicely, as expected. Slight deviation uh here, but again nothing moves in straight lines. So you can kind of see this natural, pullback, uh or unnatural, pull back depending on the the level of manipulation you believe there is going on with bitcoin um, but ultimately you can see its pulling down a little bit here and again.
I still anticipate a small a little bit further of a pullback to occur, uh not too much, but a little bit further before we start to see a good surge to the upside overall. We are going to be talking about my expectations for october and where i do think that is likely to go, but were also going to take a look at those smaller time frames as well. Okay, so what im going to do is im going to just zoom in a little bit here guys, so we can get a bigger view of what is going on. Let me just pull this up. Okay, so we can do is obviously see that there is a downward trend that was forming here. We briefly kind of wicked above it, but didnt close there um. So again, the odd ones out and the uh anomalies are okay, but that was the 25th of uh september right, just wicking above that line. Otherwise, we actually just trended down and there was an upward trend and again this was trying to get a wedge that was forming here, broken down into our um 786 702 and 618 uh getting the bounce from the 618 taking us higher and again and from here Getting rejected and pulling back down and bouncing from the 702 at the moment, but finding resistance at 786. Okay, so these fib areas are absolutely key to understand, because these are ones that will resonate really well with traders.
Okay and youll find that were right now. Finding resistance at two dollars and fifteen and were finding support at two dollars and three uh. We have obviously gone down as low as 290. At the moment now, and in terms of my expectations, i think there could be up to another 20 pull back theres, no guarantee of that. Obviously, but looking at ethereum and things that are going on there, we could arguably say that we could pull back uh about a 20 or so um, hopefully not as much for ada, as you would see for for things like ethereum. So it might actually be that we actually find uh. You know ourselves coming down to this area just down here at about 183, which is a previously a really good, strong support for us, as it was previous resistance line, as well so its possible that we do see that um before completing this cup and handle pattern Right so were starting to see whats going on there and then obviously what that would do is allow us to they have a huge surge to the upside okay. So there is a cup and handle forming here. So we have our cup uh down here and then obviously our handle and what were looking for is the completion of the handle and which i think will be around this area down here, just dropping below the 618 coming into contact and bouncing from 183. If we might actually just get another double tap on that 618 and that might be low enough, but uh well just be mindful over that and then from there we should be surging up.
But how high is it likely to go well and we grab a fibonacci tool for this, and this allows us to predict the kind of estimated area for um the pullback to occur right and im just going to draw it over on the side over here. So were going to take the high of our handle and were going to do is were going to pull down to the bottom of our cup, okay, and that would be down here. Okay and then this allows us to then see another fibonacci retracement tool, but this one is really all about how high that cup and handle is going to go. Okay, uh or the the surge after the cupping handle. Now ive already got the target on here and you can see where that actually looks its 4.45. If i clearly havent quite got this in the right spot, let me pull that down there. We go okay, so its 4.45, okay and and that basically is the 1.618 okay completing the cup and handle pattern thats where the surge would likely occur. Okay, so if i just pull this down a little bit and ill pull that down over there right, so what we end up looking at is basically this cup and handle forming here a pullback and then a surge up to this area just here, okay, and basically That allows us to then complete the cup and handle thats our target 4.45 from the current position of two dollars.
So just over double um from where our current position is from there, the expectation would be a pull back uh. Obviously we surged past the 3.37, so id anticipate that actually thatd be a natural case to kind of pull back to um, losing a little bit of that momentum that weve had during the month of october now its gon na be hard to actually say exactly uh. You know timing wise um. I anticipate well still have volatility for the next week, maybe two and then obviously looking for that pull back somewhere up here now. Dropper 24 is not uncommon, its quite natural in the space to see those kind of pullbacks and so again searching up like this way, um up here, um and then having that pulled back to try to back test on the previous uh 3.37 target of ours. Um. You know that wouldnt be too bad, considering we had surge of a hundred and twelve percent in that time period. So overall, everythings looking pretty good. If we do complete this pattern and uh, we do start to see this happen. There thats kind of my expectations for october once we get past the small time volatility that we have here, uh in terms of uh. What has been going on most recently uh with bitcoin and uh? Some of these old coins, in the volatility that weve seen in september historically speaking september, is always the month of volatility, so um.
Obviously, once we get past this next week, um, hopefully well start to see things kind of reaching their bottom, and then we can continue the surge to the upside overall. Okay, my expectations are that we shouldnt drop down more than 20 from the current position and i think aidas actually going to fall. Uh, probably if we only need to uh to 183 at the lowest point um, otherwise bouncing from 1.90. Again is also something that we could see and then from there we should look to to basically get this surge to the upside. So a little bit of volatility still to come guys and but once done and out of the way well uh well be on our way to at least 4.45, in my opinion on this uh this cup and handle pattern after that, of course, we are still talking About you know 7.22 at the 4.236 extension and but potentially pushing up a little bit higher towards our 10 range right. And then you take a look at the current performance from that low to that high there, and this one does actually show us 10 now, which is an interesting kind of point, to just note that that the cup and handle pattern in itself is reflecting 10 dollars At a higher peak but um for now, im going to stick with the one over here and be conservative 10 will be nice. I do think that is something that we are likely to see.
Personally, as we start to heat up the ecosystem, with all sorts of different gaps, um and use cases – and that was transactional, volume is going to be absolutely key into seeing how ada will perform going further forward overall, im, very, very bullish on what is going on Here with ada and so im not concerned over anything in the slightest uh, these kind of natural kind of pullbacks that you see and theyre not you know anything to be disheartened by they just basically allow you an opportunity to cost average a better position build up. Your ada holdings ahead of where we are going now im, obviously not a financial advisor chris – is not a financial advisor, so its important that you do your own research, but in doing our own research thats. My conclusion – and that is my thought – process um. If we jump down into our hourly, we can see that short term volatility. We can see that we are in here inside our you know, six one, eight, seven, eight two, seven, eight six area, the yellow box and we are looking for a pull back. We can start to see this thing happening right now. We are of course, a result. We are looking to lose that momentum, pull ourselves down a tad and then from here well uh, well, look to come back up again. Well, eventually find ourselves kind of being volatile in here until we everything lined up if we do get the bounce from the 618.
As our lower point like we did previously, that would be a fantastic place to see that surge up towards that 4.45 area that we were just talking about. Ultimately, we are expecting a bit of a red day today, um just quite naturally, uh, considering everything thats going on in space were wanting to take out that momentum were wanting to lower the price a little bit. Hopefully we wont go too low um, but do expect a bit of a red day today and then, after that, i am, you know, well be looking to move on up again in due course, but um yeah overall im still expecting volatility on those smaller time frames. But i do expect october to be a very good month. Um for um ada 4.45 is according to the cup and handle patterns, so hopefully everything else there kind of comes in and we dont deviate away from that in any way and uh, hopefully guys uh. You have found this video useful and informative its a nice brief one to welcome you back to the channel after being reinstated and um.