🛑 What happens if $ADA loses the channel support? Why is $0.2880 so important?
Hello everyone — quick update on $ADA using Elliott Wave + SMC perspective.
I started the impulsive count from the $0.2503 swing low.
Wave 1 respected the golden pocket (Fib confluence), followed by a strong extended Wave 3 — the largest expansion in the structure.
The final push formed an ending diagonal, not a leading one, topping near $0.3014 (Point T). That higher high marked exhaustion — and the current bearish phase began from there.
Now we’re seeing a corrective motive structure developing into a bearish descending pattern around $0.2840.
🔻 If price breaks and holds below the parallel channel support — especially under $0.2880 — it increases the probability of downside continuation.
With the D–E structure completed and the terminal pattern formed, the setup favors a potential dump scenario from this zone.
Stay cautious and wait for confirmation before execution.
