Aliens TLDR

Cardano price shows bearish divergence on the Relative Strength Index.

Cardano price could be prepping for its final capitulation low.

Traders should be very cautious as the declining wave does hint at a 20% worth of countertrend space to potentially scalp upwards from the current price of $0.55.

Still, scalpers in the market should be aware they are casting rods in treacherous waters as the slope of the decline indicates the current price within an extending and unfinished wave 3.

If this level were to get touched, the downtrend would be void, and the bulls could then aim for $1.20, resulting in a 100% increase from the current Cardano price.

The author will not be held responsible for information that is found at the end of links posted on this page.

The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.