ADA-Cardano reached long-term channel bottom and it's obvious on the logarithmic chart that we have a support in 1.40-1.60$ area that I highlighted with red rectangle. I'm not saying it must start new bull-run but it's high possibility to have a new ATH in December. Because of BTC 4-year cycles and end of BTC bull-run in 2022, 5$ is a reasonable and logical Target Point(Mid-line of rising channel) that ADA can reach it by the end of December.
p.s. : This is only my personal thoughts and you must do your own research before trading.
p.s. : This is only my personal thoughts and you must do your own research before trading.
Comment:
Well, reversal happened and it broke 4h trendline but still too early to talk about new ATH unless it breaks 1.9-2$ resistance area within next 10-15 days.