ADA to hit around $4 USD after consolidation
ADA has formed a solid base and has recently broken out on decent volume. The bottom of the cup is about $1. The top around 2.50. Meaning the upward target on the next leg up should be around $4 (top of cup + depth or 2.50 + 1.50). After 6 solid weeks of gains the weekly chart is in exhaustion below 40. Additionally, volume is starting to taper off. We should expect a period of consolidation to restore the weekly energy level. After the energy is restored and volume picks up we'll see the next leg up.
Outside of TA there are some big events happening for ADA Cardano Smart Contract Release and the Cardano Summit 2021 both schedule for next month (September) these two macro events should help increase interest and thus volume.
Outside of TA there are some big events happening for ADA Cardano Smart Contract Release and the Cardano Summit 2021 both schedule for next month (September) these two macro events should help increase interest and thus volume.
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