ADAUSD Breakout At Best Consolidation At Worst
Updated
About 2 hours ago I was looking at the consolidation pattern and looking at the buying volume. At first glance I thought there could be a push, but I thought there wasn't enough consolidation. Now I am looking at a 5.9 on the faith metric which measures buying volume vs selling volume and momentum. The buying volume right now is huge for such a small amount of consolidation. In short, at best I see a push past the consolidation pattern on my chart, at worst, further consolidation and another push soon. I really HIGHLY doubt there will be a massive pullback before Cardano Alonzo Smart Contracts comes out. From what I see, there is immense pressure to push past the resistance at the 2.52 price level. This might fail and move to consolidate, but I think the price accessibility of ADA is making people buy this left and right.
This is not financial advice. DYODD.
Feel free to like this chart and follow me. All the support is welcomed. Thanks again! GLHF.
This is not financial advice. DYODD.
Feel free to like this chart and follow me. All the support is welcomed. Thanks again! GLHF.
Note
Ideally, I would like ADA to consolidate to the tip of the triangle, or more, so it can blast to $3.00 in one push. But it will probably be little by little since it has already moved so much in such a short amount of time. Either way, this is a fun chart to look at. Algo is pretty fun too. If you want me to chart Algo, let me know!
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