$ADA is trading within a parallel price channel after a massive move yesterday. We are right now bouncing from the lower side of the channel and there is a high chance of a breakout to the upper side.
On the long term an Elliot wave structure is playing out. From the lows made on the 11th of march, we peaked impulsively in a wave 1 saw a pullback in a wave 2 and a wave 3 is now in play.
Targets for the wave 3 lie at $0.8806. But first we need a break above $0.7791. On the lower side we also need to hold above the low we made at $0.6811.
