So for awhile we had an ascending wedge (bearish indication). Which makes perfect sense because Cardano needs to pull back and consolidate to further confirm the upward trend (ideally the 2.7-2.5 range). However, we can easily see on the 15 min chart, an ascending triangle has formed (bullish indication). I believe this is a very short term bullish indication and ADA is still set for a pullback, if not now, it will have to happen soon enough. Keep in mind ADA goes live in Japan on Sep 25 at 8:30am. I believe this is on Sep 24th at 4:30pm PST. Over the next 8 hours we really need to keep an eye on this. Let me know what you think!
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.
Feel free to like this chart and follow me. All the support is welcomed. Thanks again! GLHF.
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.
Feel free to like this chart and follow me. All the support is welcomed. Thanks again! GLHF.
Comment:
Edit I meant Aug 25th. Sorry about that!
