CARDANO repeating Ethereum's 2017 break-out?

Cardano (ADAUSD) had a major bullish break-out today as it broke above the Channel Down that has been holding since the September 02 2021 High. It remains to be seen if the 1D candle closes above it, but it already looks as if ADA is replicating Ethereum's (ETHUSD) bullish break-out in early January 2017.

It was when ETH broke above the 1D MA50 (blue trend-line) and its long-term Lower Highs trend-line (dashed line). See how the price action that led to this since March 2016 is also quite similar to ADA's price action since May 2021. Same Channel Down, followed by a Higher High, a near Support test and the start of the Lower Highs. Even the RSI fractals are similar.

The 1D MA200 (orange trend-line) on Cardano is currently at 1.558 but dropping fast. Do you think the pattern will continue to play out the exact way as ETH's 2017 and consolidate around the MA200 for a month and then start a parabolic rally? At least that's what ADA's holders would want to see.


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