ADAUSD - Cup and Handle Formation, Ready for Breakout?
We have what is looking like a strong [I]Cup and Handle[/I] setup for ADA. This analysis points to a bias favoring a bullish breakout.
Considering the strong fundamentals of ADA, along with the growing cultish following for the founder Charles Hoskinson on Twitch amongst other platforms, we may find this bullish analysis supported by a surge in volume in the next few days.
That goes without even considering the listing on Coinbase Pro, which proved to be a real doozy. Reports indicate that the bid for ADA was opened at an exorbitant level, triggering a large sell off which may explain the flash crash.
I would postulate that a large retail market already exists for ADA, considering the popularity of Coinbase. We have yet to see the effects of a true retail surge on ADA, considering ADA is still unavailable on Coinbase (Coinbase Pro is not as widely used).
That is however, just a technical analysis
Considering the strong fundamentals of ADA, along with the growing cultish following for the founder Charles Hoskinson on Twitch amongst other platforms, we may find this bullish analysis supported by a surge in volume in the next few days.
That goes without even considering the listing on Coinbase Pro, which proved to be a real doozy. Reports indicate that the bid for ADA was opened at an exorbitant level, triggering a large sell off which may explain the flash crash.
I would postulate that a large retail market already exists for ADA, considering the popularity of Coinbase. We have yet to see the effects of a true retail surge on ADA, considering ADA is still unavailable on Coinbase (Coinbase Pro is not as widely used).
That is however, just a technical analysis
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