ADA Wedge Consolidation

ADA aka Cardano is currently trapped inside a wedge pattern on the 1day chart repeating the pattern of May to August as shown in the chart. On the downside 1.848, the October 27th low is support. If ADA manages to break above 2.20 , clearing the 50 and 100-day SMAs, a wedge breakout would occur, opening the door for a move towards these levels:

  1. $2.62 at fib 1.65
  2. $3.10 at fib 2.618
  3. $3.59 at fib 3.62