Cardano ABC Pattern Near Completion — BC2 Hold Could Trigger Move to $0.38
A bullish ABC pattern is forming on Cardano (ADA) on the 4-hour chart, identified by analyst SmellyTaz. Wave A ran from $0.22 to $0.28 on Feb 6, Wave B corrected to $0.25 around Feb 11, and Wave C began but stalled near $0.30–$0.31 on Feb 15–25. ADA recently rebounded from a macro support zone at $0.24–$0.26 and pumped ~14% to $0.31 before a 6% pullback. The analyst highlights a secondary BC2 support zone at $0.27–$0.28 as a “reload” area; a retest and lower-timeframe market structure shift (MSS) or strong rejection there would confirm momentum and could target a Wave C upper band near $0.38. The bullish view invalidates if price falls below BC2. Traders should watch BC2 ($0.27–$0.28), the $0.24–$0.26 macro support, price action around $0.30–$0.31, and confirmation signals (MSS or strong rejection) for entries or invalidation.
Bullish
The report describes a clear technical setup: a bullish ABC on ADA with defined support (0.24–0.26) and a potential reload BC2 zone (0.27–0.28). The recent 14% relief rally to $0.31 and subsequent 6% pullback indicate buyer interest at macro support. If ADA retests BC2 and shows a market structure shift or strong rejection there, it fits common continuation patterns where C completes higher — here targeting about $0.38. This is a constructive, tradeable setup with clear invalidation (drop below BC2), which favors bullish positioning for swing traders who manage risk at BC2 or the macro support. Short-term impact: increased buying interest around BC2 could spur a quick run toward $0.38; volatility may spike around $0.30 resistance. Long-term impact: completion of C would reinforce trend recovery and attract momentum traders, but failure below BC2 would negate the bullish thesis and likely lead to further downside. Similar past events: prior altcoin ABC completions often produced rapid moves once a secondary reload held (e.g., many mid‑cap alt rebounds in 2021–2022), so traders should watch confirmations and set tight risk controls.