Looking at the chart. ADA can go both ways. It's been retracing for weeks now and although I've been accumulating successfully I'm still waiting for that reversal. One part of my analysis says it might touch the support zone (bottom) and decide to go up. If you want to position yourself in ADA I'd wait for those big volume bars to come in first. These bars are a clear indication for some upward action. Until now it look pretty flatlined. As you can see on the chart I drew some Elliott waves and I have to admit it wasn't that easy to call those correction waves after the peak so I was looking for the long 3e wave first and then called the 1, 2 and the 4 and 5. The waves, the pattern and even the Fibs call for some action. It's just the volume we are lacking. Anyway... It's anyones guess now.
Imo, a bit more down short term. Wave 5 itself usually has 5 subwaves (5 on 5), looking at the chart we are at the end of subwave 3,
Bullissimo
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@Bullissimo, Subwave 4 might be a retest of the downtrend line and subwave 5 could go deep into buyzone. After that probably a nice correction up and ready for the moon ;)