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ADAUSD Pattern Broke looks for Support

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Well, ADA waitied right after I went to sleep to fail. The ascending triangle pattern broke to the downside, and is heading for consolidation around between 2.6 and 2.48. I do not believe the run is over for ADA, as Japan gets access to it on the 25th at 8:30am.


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.
Nota
Target 3.25
ADAadausdcardanoChart PatternsconsolidationcryptoTechnical IndicatorsLONGpullbackTrend Analysis

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