Cardano has shown quite a bit of muscle with last week's dip.
Recently the first alpha testnet was launched called Alonzo Blue (phase 1)
And there will be a number of phases rolled out in the coming months such as Alonzo White, Alonzo Purple and all this should be completed in September/August for the launch of the mainnet.
Alonzo's hard fork will open up several new capabilities, including smart contracts that can facilitate the launch of a number of new DeFi applications. In short, there are enough developments and the big demand will be reflected in the price in the coming period. *(source: roadmap.cardano.org/en/status-updates/)*
Since last ATH the price has had to deal with a correction.
For the time being, a Symmetric Triangle / Symmetrical triangle seems to be forming, but to make this even more valid I would prefer to see an HL (higher low) and an LH (Lower High), this would eventually ensure that the price comes to a two way point. to my opinion, it will also be quite an important moment because when the price falls, we fall back into an old channel where we prefer to stay above. The top line of this channel is almost accompanied by the symmetrical triangle as support.
Another option is that a Head and Shoulder pattern is formed, this would eventually give approximately the same price target.
My text is kinda google translated from the dutch so grammatic faults could be there.
Recently the first alpha testnet was launched called Alonzo Blue (phase 1)
And there will be a number of phases rolled out in the coming months such as Alonzo White, Alonzo Purple and all this should be completed in September/August for the launch of the mainnet.
Alonzo's hard fork will open up several new capabilities, including smart contracts that can facilitate the launch of a number of new DeFi applications. In short, there are enough developments and the big demand will be reflected in the price in the coming period. *(source: roadmap.cardano.org/en/status-updates/)*
Since last ATH the price has had to deal with a correction.
For the time being, a Symmetric Triangle / Symmetrical triangle seems to be forming, but to make this even more valid I would prefer to see an HL (higher low) and an LH (Lower High), this would eventually ensure that the price comes to a two way point. to my opinion, it will also be quite an important moment because when the price falls, we fall back into an old channel where we prefer to stay above. The top line of this channel is almost accompanied by the symmetrical triangle as support.
Another option is that a Head and Shoulder pattern is formed, this would eventually give approximately the same price target.
My text is kinda google translated from the dutch so grammatic faults could be there.
Tims.Technische.Analyse by TIMTIBBO