ADA Weekly Analysis
Another look at the higher timeframe (HTF) on the weekly chart.
I have identified 3 other areas on the chart previously with blue arrows showing the location of the (lower channel) and / formations prior to motive waves up. As you can see the / is just prior to the move up and from here I think we could see the star of a new wave formation as we have with previous moves.
Based on Fib scales taking the swing high to the correction swing low we can project fib levels to give an idea of where price action may visit. I am skeptical about seeing a $11.5 ADA given other factors in the economy currently but it is definitely plausible as this project continues to release new things and as more smart contracts get deployed on this chain. Given its a this could take weeks/months and we wouldn’t just be going straight up, it would be a series of motive waves and correction waves.