ADA +70% LONG OPPORTUNITY | CONFIRMED BREAKOUT +$1 SOONCRYPTOCAP:ADA has formed a year-long cup and handle pattern. Traditionally, this pattern is a bullish indicator of continued upward movement. The cup and handle have played out perfectly, and we have broken out of the resistance at ~0.68. This move confirms our pattern and makes this a well calculated long entry position.
I expect a 70% increase in the price of CRYPTOCAP:ADA in the short term, which would put the price above $1 (~$1.15). This is potentially a great entry to a long or large spot position before a swift upward movement.
The altcoin market cap, including ETH ( CRYPTOCAP:TOTAL2 ), is already front-running the altcoin market cap, excluding ETH ( CRYPTOCAP:TOTAL3 ). This is another bullish indicator that the alt coin market may be ready for another leg up, helping out patterns play out.
I personally added to a spot position here, but I think its a great long entry as well if you have more powder.
DYOR and bring home those gains.
