🔥 ADA ABOUT TO EXPLODE? 🔥 CARDANO ADA ANALYSIS & UPDATE | CRYPTO NEWS TODAY
In our opinion, uh in the next couple of months, where they are likely to go in the next few days and, of course, what we expect to happen in the next few hours as well guys as we get into this video. If you do find it useful and informative hit that like button, i really do appreciate that, if you happen to be new to the channel, 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 we do here at cheeky, crypto right with that said, done out of the way lets dive down into this a weekly chart to start with and talk about, whats going on here with ada. As you can see, there are five impulse waves to the upside and in line with this theory, uh everything has uh kind of been sticking to structure, which is pretty good to see right, uh, wave, four hasnt crossed wave one or anything like that. So the structures pretty much intact. We have had a bit of a deviation just here, but again this is not unusual. We do see these according uh to many of these other impulse waves that we have seen so far. This kick started back in march of 2020 and peaked up with wave 3 up here in may of 2021. Now, if i go ahead and grab hold of my date and price range, we can just throw that on to here and here, and that shows us with about 14 000 in gains in 427 days, so not too bad.
I dont think any bank is even going to offer you 100 in such a short space of time, so to see basically 14 000 is uh is very, very good indeed. Now we can, of course acknowledge that if you were by an ada at the top of way, three youve had to endure a correction wave pulling us all the way down into these lower areas. Where was a triple tap on this area just here, and you can see that the area of 183, i think its 183. yeah im going to go 180.. Sorry, no, its the in one dollar level, guys uh. This one dollar level is the clear support level for ada right, and so we know that this is an interesting area. This is also going to be an interesting area if we do actually go up to the full extension of my expectations on way. Five up to ten dollars that ten dollar range um is is significant, because if we do see a bear market with a ninety percent, pull back then this here this triple tap area of wave four is the low area in which youre probably going to fall down To in the bear market, so i find that quite an interesting thing. Just to note that, and now as we have pushed up, we set a new all time, high small pool back again in line with everything that bitcoin has been getting up to and we started to push back to the upside wrist.
Recently we take a look at this stochastic rsi on this weekly chart and we can see that we have pulled back a little bit and and we are ready to kind of move back into the overbought area, and this is not too uncommon to see this kind Of pull back here, weve basically wiped out our stochastic rsi without doing too much damage to the price. When we historically talk about everything that was going on over here, where we actually pulled right, the way back down into this oversold area from an overall area on our journey to the upside in way three. So, although we have pushed up, we can of course acknowledge that, even with a falling stochastic rsi, we can of course move the price back up so right now, everythings looking pretty good, we are looking to push this back up into the overable area for the next Few months and where we go ahead and look to try to get that 10 dollar range set for ada now, overall um there is a fear but not get in the moment on the daily and but for the most part. Ada has been performing very well and again um. You know if youre an early adopter of this project, like you know, in getting in at wave 2 or really early. You know during the wave one scenario youre able to basically, you know have basically picked up 14. 000 in gains right – and you know a lot of people complain.
They say that nothings built on its a ghost chain im, not investing until something is built with it, and the same reason that you know you you, people didnt, invest in in tesla, no ones gon na want an electric car right, its uh, no ones gon na Want to replace the combustion engine with an electric car yeah here we are replacing combustion engine cars with uh with electric ones right um its about having that future vision, that the underlying understanding of something that will be valuable in the future amazon is another example of This right people who were investing in the online bookstore when thats what it first was ahead of, where it has become today same thing, with apple right by investing in apple and investing in you know, steve jobs, ultimately right, um, ahead of creating the iphone, for example, Right, revolutionizing, the industry: what do you have with car dyno where theyre definitely up there right? You invest in their vision and in their mindset at least thats. How i look at it and what theyve built is absolutely fantastic, its the reason that they are getting so much momentum behind them in such a short space of time. In this particular bull run. Yes, its taken them some some decent amount of time to do their research, get peer review to go. Do the academic approach to it, but the results of that definitely outweigh the rushing a project to market just to be able to capitalize on some quick gains right and so obviously, when that happens, you have a lot of problems to fix right.
You have to basically fix the foundation to your house and and basically thats, where you kind of see ethereum right now, um, so ultimately, um cardano has been performing well and i think um its got a long term future to it as we head up to ten Dollars in this particular cycle – and i do think, were going to see a 32 dollar cardano in 2025., okay, so lets jump down into our daily okay. The daily chart is where we start to see a little bit more um clarity on whats been going on recently right. So as we come down into this area here, we have the performance of our wave three high and our wave for triple tap low, okay, and so, during this correction wave, this current performance were able to put a fibonacci retracement on this actually comes from our high Area here of 2.40 and our low dollar area of one dollar right that our one dollar support level thats been uh, resonating, really well with us previously and obviously has been our area of support. Now this fib – and this allows us to then actually plot out a 7.22 area. Okay, so, based on that current performance, just there, we can see 7.22 as the 4.236 extension on the fibonacci retracement, now thats pretty good id like to see a 7.22, but i do think were going to overextend that – and this is my reasoning – why um 7.
22 is Based on no smart contracts, the lead up to way three was speculating on those smart contracts. The correction wave four was again basically just the test net. No um projects have gone, live nothing like that on the main net right and basically, what youre seeing here is just speculation. Obviously, we set a new all time high with smart contracts launched, and then we saw the pull back from there right. So now what we are looking for is basically to see how do those smart contracts, how do those new projects launching affect the data here in this uh in the charts right, because this is all historical old data? And so therefore we are entering a new world. A new world with dapps being built on the ecosystem with real true use case and utility and, of course, coming with that, will come transactional volume and with that transactional volume comes price discovery. Okay, so as we kind of get into this next phase, i would not be surprised if we overextend 7.22 and push up to that 10 as a minimum. Again, there are some additional targets here that i have set out to see 15, 20 or 25 and again, wherever we land in this particular cycle. I will do a review and obviously then give us a bit of a prediction on where my expectations are for car dyno to land in 2025. Okay, so right now everything is looking pretty good. We have a good uh, low expectation in my mind of 722 and from the current position, thats, not a bad roi.
Let me just get my uh price range okay, so this actually comes in just up here at uh 218, and if we go to ten dollars, it becomes 340. Okay, so and theres still a fair amount of gains left on the table here and obviously youre getting later and later into the ball run and its harder and harder to see those gains. And but theyre being said, you know, you can obviously see the expectations and where were likely to go now there is a cup and handle ive spoken about this a couple of times the cup and handle pattern here for cardano and uh. If i just draw that up for a second, we have the cup, and then we have the handle and this cup and handle pattern shows us moving up to if i actually get rid of that, we can move up to 4.45 okay. So this is my october price expectation. We should be moving up to this area just here: okay, 4.45, just short of our um, our 2.618 area. Now, of course, we could overwick it and we could just go straight into that price target. Take that one out and get rejected from there um lots of things that could be on the horizon, but my expectations are for ada here that we are expecting some new. All time highs to occur in october, okay, and so we are looking to push up to this area by completing that cup and handle now, and we can of course acknowledge that were overbought just about and again, this is something that weve seen previously over here were Overbought pretty much for the month of uh of august really and for at least a solid month there now and thats, basically on this journey here, okay and obviously we did start to have a bit of a pullback at this journey.
Uh, even though, were pushing the price up, we did obviously lower our stochastic getting us into a nice position to basically, then continue to run to the upside bitcoin obviously had different plans for us, but right now entering this overbought area is looking pretty good to continue. That good push back to the upside staying up here for a few days and then pulling back down or wiping out the stochastic without doing any damage to the price like we had over here thats. What were looking for, but we want that to be up at a new high all time high, preferably wed like to rally up to 4.45 area before we actually get that. Because that will allow us then to push on up much further ahead in november. As well, and so overall, things are looking pretty interesting here for cardano. Those are my expectations on the daily, obviously to expect the month of october to be pretty bullish and obviously set new. All time highs. Now, as we come down into our hourly, this is where we see that volatility, but also where we start to see some interesting things occurring. We broke the downward trend in a really strong way, back testing on it and really pushing up ahead again. We turned an area into support, but lost that that was the 2.29 area and there was some resistance up at 232 and obviously pulling back down into some interesting lines down here as well.
So right now were actually moving up nicely, as we can see just here. Weve started to use that stochastic so were looking to push back up into the overbought area. Now, when i throw that volume on, we can see that the volumes are not overly impressive right now, so the sentiment isnt quite there ready for um cardinals ada just yet right. We need to see growth in the volume and instead, what were seeing is a decline in the volume, as we push that price up, which means that were likely to find ourselves running out of steam. Well, use all this and then just fall down and potentially pull the price back down right. So at the moment ada seems to be struggling. The sentiment doesnt seem to be there and i do think this is short lived. I think. Ultimately, we are likely to see a big surge to the upside in the month of october and we just need to kind of bide our time and be patient with this one. Whilst we trade sideways and allow things to line up nicely. But i do believe that cardona is about to explode in the month of october. It might not happen today. It might not happen tomorrow, but i do expect us to move up to 4.45 during this month of october and uh continue the rally to the upside overall. Once we start launching products on the ecosystem were going to start seeing an influx of uh use of those particular dapps and, of course, along with that, will come all that transactional volume and the use case of ada will increase.