ADAUSD ANOTHER CUP AND HANDLE INDICATE NEXT MINOR TARGET 2.75

ADA is just pushing out cup and handle patterns right and left. It is not unheard of to see patterns repeat on a chart. In fact it happens quite often if there is a strong directional bias. Albeit, you see it a LOT more on crypto charts than you to in the stock market. That being said, the next minor target is 2.75 or a 4% increase. This is calculated by the difference in the depth of the cup added to the top of the cup. 2.57 + 0.18 = 2.75.

Now lets talk about why ADA has so much strength. Cardano is about to release smart contract September 12 with the Alonzo release. This addition makes it a viable competitor to ETH as an open source platform. Right now, it is just a glorified ledger. As a person who plans to be a Cadano Developer once Alonzo is released, it makes me wonder how far ADA can go. I have heard people say it cannot go to 100 dollars because it will need around a 3T market cap. But considering in the past 2 weeks ADA has added 31B to its market cap, it's definitely not out of the realm of possibility. Also, considering Grayscale Investments has picked it up, I think it has a LOT more room to grow.

Tell me what you think?

This is not financial advice. DYODD.

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

Comment:

ADA is ready to breakout, test the all time high and move for the 4% increase. Enjoy!