After a good upward rally after making triple bottom on previous 0.618 fib sending ADA to its ATH of 3.1$, ADA has been in cool down phase. It also did not perform well in the recent ALT season or at the time BTC and ETH made their rallies. The reason is because it has been secretly consolidating and preparing for a big upward rally in upcoming weeks while forming a falling wedge pattern on daily chart. The Triangular waves are almost complete and once it breaks upward, we can witness a huge rally on ADA sending it to new All time Highs.
Note
Breakout doneNote
The pattern has been invalidated. Still i am Bullish on ADA. Even though its a slow moving coin and has been in downtrend for sometime. It wont be long when it rise.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.