Look for a breakout on Cardano once this consolidation pattern completes. ADA historically has extended periods of consolidation, followed by strong breakouts to the upside. Unless there's an event that causes fallout in the market, the general bullish market reversal should continue to drive the price up.
Note
The consolidation broke down, but it looks like on a longer time frame ADA is nearing the tip of a large descending wedge. The roadmap update in a couple of days could be the impetus to a bullish breakout of the pattern
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.