ADAUSD Drop to 2.48 Inbound

25 авг. 2021 г.

Well we have a bear flag, the push failed. After two patterns failed, it is clear the market believes ADA needs consolidation. I expect ADA to go to 1.48-1.40 and consolidate. We will check the patterns again. 3.25 will come, it's just a matter of when.

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.

25 авг. 2021 г.

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Edit: sorry I meant pennant, same idea.