ADA dropped and met the 61.8% fibonacci retracement level perfectly.
Since then it has bounced up.
The fibonacci extension tool shows us that we could see a move up to $1.56.
What does this look like?
- If you invested $100 today, if ADA reaches the target you would have $124.
- If you invested $1000 today, if ADA reaches the target you would have $1240.
The Fibonacci extension is indicating that if we push past the current zone we could see a move to $43.
I'm predicting that this will happen by Sunday give or take 48 hours.
Long term, however, we could see Polkadot reach $53 during the altcoin season (and that's being conservative haha!)
Using the fibonacci extension tool, I have come up with a set of price targets for the month of March.
These targets range from conservative to more radical.
Currently we are coming towards the first price target and I hope we can hit all targets within the month.