ADA has been consolidating for the past 66 days and has finally broken out of the descending triangle. As seen in previous patterns, ADA almost always repeats the same pattern.
If we take a closer look at the previous pattern (DT) we can see ADA has been consolidating for the past 65 days, after that we saw a huge surge to the upside.
Today we are in a very similar position.
In my opinion, we might see a fake-out and retest support at $1.90 to reset the RSI and go parabolic from there.
On the other side, if we can see more volume coming in during the breakout we might not have to retest the previous support of $1.90
Not financial advice.
Goodluck friends 😁
If we take a closer look at the previous pattern (DT) we can see ADA has been consolidating for the past 65 days, after that we saw a huge surge to the upside.
Today we are in a very similar position.
In my opinion, we might see a fake-out and retest support at $1.90 to reset the RSI and go parabolic from there.
On the other side, if we can see more volume coming in during the breakout we might not have to retest the previous support of $1.90
Not financial advice.
Goodluck friends 😁