The widely known crypto trader is predicting further settlement activities with the smart contract platform Cardano (ADA) and one of the emerging altcoins this year.
Anonymous cryptocurrency analyst Kapo said 307,500 Twitter followers of the ADA were ready for another leg before ending the Elliott Wave Theory.
The fifth wave is gone.
The main support is $ 0.30 – $ 0.35.
Elliott Wave’s Theory is a technical analysis that seeks to predict future price action by following the psychology of the masses. According to the theory, one asset goes through a five-wave cycle before the main market reversal.
According to Capo, the ADA is about to complete the fourth wave, which indicates that the coin is ready to be washed for the last time. At the time of writing, Cardano is trading at $ 0.55, which is 45% higher than the analyst’s $ 0.30 target.
STEPN (GMT) closely monitors activity on the Solana (SOL) blockchain. According to Crypto Strategist, he sees GMT trading as low as $ 0.60.
“GMT has come home, but now it has to go downstairs.”
GMT trades at $ 1.52 at the time of writing.
Looking at Bitcoin (BTC), Kapo expects BTC correction to continue after violating $ 30,000 key psychological support.
“The $ 30,000 support broke it after the fifth touchdown. A two-day candle has been closed underneath, and he is now trying to support that zone. In my opinion this is not a good place to buy. He did not even return that level in the long run. $ 21, $ 23,000 still in play.
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