This is a model of the previous bounce off of the lower channel support line. This attempts to take into account the relation with bitcoin and bitcoins projected timeline... However, ADA's last parabolic rally started with an inverse relationship to Bitcoin... so there is still some uncertainty there, but overall I think this setup is bullish longterm.
Not as high as I would like to see this go, but I think this will be a likely scenario for a price target for the next local top. Looks like it should play out in November December time frame.
Looking @ some clear support lines but looks like we still have a lot of resistance coming up soon. Need a big move to punch through and regain as a strong foothold for next big move up. RSI positioned for this on the daily.
Looking at some critical pints of resistance to maintain the upward channel. Bitcoin has still been impacting the major moves of ADA so it appears taking a long look at macro bitcoin trends is critical. Even though Cardano appears to be in channel, there appears to be downside still on the horizon for Bitcoin within the next 10-14 days. Look for key indicators...
