I have to make this post fairly quick because I have a long day ahead of me. The gist of it is, ADA has formed a cup (albeit an ugly one but still valid) and has started to form a handle. I am guessing this will be the catalyst for the push past the 3.00 mark into new high territory. If the pattern completes, we have a target of 3.37. If the pattern breaks, it will further consolidate in one of the support zones I have mentioned in my last post. It is very clear that ADA will make a run to test the all time high soon. Only time will tell. Remember, if a push happens and it fails, expect a strong pullback to a support zone. Mark the support zones I have created in my earlier chart with alerts and also set an alert for the all time high. This way, even if you are busy, you will have time to react to the price change.
I am going to make a video soon teaching everyone my approach to charting. I will cover the entire workflow process I go through. I hope you enjoy it.
Now lets talk about why ADA has so much strength. Cardano is about to release smart contract September 12 with the Alonzo release. This addition makes it a viable competitor to ETH as an open source platform. Right now, it is just a glorified ledger. As a person who plans to be a Cadano Developer once Alonzo is released, it makes me wonder how far ADA can go. I have heard people say it cannot go to 100 dollars because it will need around a 3T market cap. But considering in the past 2 weeks ADA has added 31B to its market cap, it's definitely not out of the realm of possibility. Also, considering Grayscale Investments has picked it up, I think it has a LOT more room to grow.
Tell me what you think?
This is not financial advice. DYODD.
I am going to make a video soon teaching everyone my approach to charting. I will cover the entire workflow process I go through. I hope you enjoy it.
Now lets talk about why ADA has so much strength. Cardano is about to release smart contract September 12 with the Alonzo release. This addition makes it a viable competitor to ETH as an open source platform. Right now, it is just a glorified ledger. As a person who plans to be a Cadano Developer once Alonzo is released, it makes me wonder how far ADA can go. I have heard people say it cannot go to 100 dollars because it will need around a 3T market cap. But considering in the past 2 weeks ADA has added 31B to its market cap, it's definitely not out of the realm of possibility. Also, considering Grayscale Investments has picked it up, I think it has a LOT more room to grow.
Tell me what you think?
This is not financial advice. DYODD.
Komentar:
Sorry everyone, I was out all day so I could not post any updates. As you can see the pattern clearly broke before it was completed and has retreated to the first major support zone as I said it would. I will keep an eye on it and post if I see anything that stands out. Right now it just looks like typical consolidation. Don't be surprised if it tests the 200MA again. It has not broken the ascending triangle yet.
