Pseudonymous crypto trader and analyst Capo tweets that Cardano (ADA) is bound to go on a massive downward trend. This popular crypto trader with over 307,500 followers on Twitter predicted a massive plunge before the coin finishes its five-waved downward trajectory following the Elliott Wave Theory. The Elliott Wave Theory pertains to a technical analysis that can predict price action by looking into mind psychology or crowd behavior that can be seen in waves. Based on the theory, the crypto asset would always go through a predictive five-wave cycle before it makes that pivot or reversal. Suggested Reading | NFT Prices Take A Beating After Crypto Market Chaos Before the coin completes its five-wave downward course, Capo anticipates a catastrophic crash (Coingape). Capo Predictions On ADA, BTC, Terra, STEPN According to Capo, ADA is on its way to completing the fourth wave which means it’s ready for that final wave. Cardano is currently trading at $0.55 which is categorically 45% above the target price point of $0.30. Cryptocurrencies recovered quite a bit on Friday but crashed today which appeared to be a roller-coaster ride of sorts. The erratic market moves have been worrisome for many crypto traders and investors alike. Bitcoin (BTC) has fallen by 3.6% and Cardano (ADA) went down by 6.65%. Suggested Reading | LUNA Not Alone In Crimson: APE, AVAX, SOL, SHIB All Lose 20% In Crypto Crash With the Federal Reserve pul...
