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$.
By placing the stop below the bear market low, we can construct an amazing long-term trade with a risk-reward of over 200. Crazy potential.
Please take in consider the market caps of these coins. Sometimes TA just looks like bullshit when you are saying ADA 35$ equals a market cap of 1280 billion. The marketcap of all crypto combined right now equals 1457 billion.
FieryTrading
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@Arie101, Correct, it might be a stretch. On the other hand, ADA went from 0.02$ to 3$ las cycle. Anything is possible.
decentPaella91345
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@Arie101, Can you explain how the market cap is calculated and why you think with an increase in coin value the market cap remain the same?
Solana2DMoon
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I want what your smoking
w3frg6lp7h
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@Ethereum2DMoon, you're
zaqoy
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Just a casual 100x on one of the highest market cap altcoins. Would only make it worth 1.3 trillion dollars on its own, which is the current size of the entire crypto market.