ADAUSD in rising price channel

The log chart of ADAUSD shows a steep rising price channel since March of 2020 when it traded around 2 cents. If it continues to sell off hard it could approach the lower bounds of channel soon around $1.20-1.30 which would present an excellent buying opportunity. If the trend flattens out look for a buy around $1.5 further on down the road. In any case, look to accumulate near the lower bounds of the channel. We could see prices at the higher end of the channel in the next 6-8 months ($5-15).