FieryTrading

🔥 ADA Parallel Channel: The Best Trade You Can Make

Long
BINANCE:ADAUSDT   Cardano / TetherUS
Since ADA bottomed last month, the price has practically been going up in a straight line. In hindsight, the bounce occurred right at the moment where the price touched the bottom support of the parallel channel.

The parallel channel is formed by drawing a line between the two bull-market tops, and copying that exact line towards the Corona dump's bottom.

Since the pattern has now been confirmed, we can take a look at the next bull-market top. Assuming that the bull-market top will be somewhere in 2025 and that ADA will continue to follow this pattern, we can make the assumption that ADA will top somewhere above 35$.

By placing the stop below the bear market low, we can construct an amazing long-term trade with a risk-reward of over 200. Crazy potential.

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