ADAUSD Consolidation and Breakout

19. Aug. 2021

As we can see ADA is consolidating yet again in preparation for Friday's announcement of the Cardano Alonzo smart contract rollout date. I expect ADA to consolidate until Friday, then breakout in a big way. Obviously this breakout is not going to be as extreme as the Alonzo release date breakout, but it should be substantial enough considering ADA moved upward on just the news of the announcement. I have an alert set at the top of the green triangle (the hypotenuse). If the price pokes through, there is a good chance it will run once it has consolidated. Also note where the recent volume is on the chart, it didn't seem as though ADA had a hard time moving past this price region so I am guess its because a lot of people are buying.

This is not financial advice. DYODD.

Feel free to like this chart and follow me. All the support is welcomed. Thanks again! GLHF.

19. Aug. 2021

Anmerkung

ANDDD just like that, it broke the new channel, ADA buying must be hot right now. It might settle back inside the consolidation zone, but this is a good sign it is going to move higher very soon.