Recently I made an analysis on ADA. In said analysis I talked about a potential reversal from the bottom support of the falling wedge pattern. However, with the market going into capitulation-mode the pattern didn’t hold and we fell right through it.

For now, I think there’s more pain to come for the market, especially for alts.

My bearish targets for ADA are $0.4 and $0.3 respectively. My assumption is that BTC will continue the sell-off soon, so we might arrive at my targets sooner than later. Not sure if we’re going to see a bounce from there. Depends if BTC hits my indicated green area below.