ADA Falling Triangle Reversal Pattern upside LT target of $2.63 for KRAKEN:ADAUSD by ich1baN

This is of course if there is a successful breakout of the falling triangle which differs from a descending wedge . The falling triangle is a reversal pattern. Cardano has major updates coming out over the next month and will have fully functional smart contracts in September. This is along with low user fees and almost zero energy waste.

ADA has the best institutional signoff with the recent addition in Grayscale’s Large Cap Fund. With little to no ESG concerns, ADA stands apart from the others such as ETH and BTC which have a ways to go to meet some concerns that have been raised.

Additionally, Cardano will run up to 1M TPS and have mobile + browser javascript developer access – despite the naysayers, ADA consistently has the MOST developer activity day in and day out – this is going to pay off to investors as welll as all of that intellectual capital will have a payoff for those patient to hold it.

Would be worth it to take a look at ADA here as you can see there is a repeating pattern of falling wedges that are eventually broken out to the upside. It looks to me that ADA has reached the lows now that there is structural support after Elon’s comments + Amazon exploring opportunities in crypto + the Fed (J Powell), US Treasury (Yellen), CFTC, and Gensler at the SEC not wanting to squash crypto but merely give it guidelines to work by. The CFTC made an interesting comment lately about how crypto seems to provide an interesting technological advancement that they hope to help, not hurt it (see below).

“CFTC Commissioner: Regulators Can Benefit From Blockchain, If Done Right”…

In conclusion, the writing is on the wall that regulators are not wanting to squash crypto but do indeed want to make sure it is at least abiding by certain recommended guidelines and ADA imo will be one of the bigger coins that one should pick up here before it does break this pattern as the previous patterns.

Lastly, the World Economic Forum has put 6 cryptocurrencies in a spotlight lens recently. One of those 6 is Cardano (ADA):

Fast forward to 16:35 to see the list here:…

If the WEF is recognizing ADA, it pays to heed what they are focusing in on. Notice, ETH or BTC are NOT on that list.

Most Related Links :
reporterwings Governmental News Finance News

Source link

Back to top button