The analysis suggests that ADA is currently in a range-bound market, trading between $0.51 and $1.30. The presenter considers the possibility of an Elliott Wave triangle formation, tracking this pattern from February. The recent low in June could potentially mark the start of the fifth wave upwards with a target price of $0.8188, corresponding to the 138% Fibonacci extension level. A break above the swing high of $0.79 from July 31st would further confirm the bullish scenario. Support is defined between $0.578 and $0.688, with an invalidation point at $0.51. The analysis considers two scenarios: a continued unfolding of the triangle pattern in A-B-C-D-E waves and a rally upwards, the latter being preferred. The ideal scenario involves an impulse to the upside. The focus remains on Fib support and structure, with the door to higher prices remaining open as long as key support levels are maintained. According to a short-term analysis that the analyst do in another of his video. for those using this setup it's important to manage the risk.