Ever since the March lows, ADA has been trading inside a falling wedge pattern. Falling wedges are classically bullish reversal patterns, so that’s where we’re going to look at in the future. For now, we’re just scouting a short-term bounce for an easy 15%-25% gain.

Patience is key. I’m not looking for an ADA entry as of now, since we still have around 10%-15% to go before the pattern’s support has been reached. Ideally, the daily RSI will hit oversold at the same time that ADA hits the support, further strengthening the bullish reversal narrative.