For anyone who plays Wordle, you’re used to guessing five-letter words. Tesla Inc (NASDAQ: TSLA) CEO Elon Musk has a five-letter guessing game that could be right up your alley.
What Happened: A video shared by U.S. President Joe Biden featured General Motors Company (NYSE: GM) CEO Mary Barra.
“We are so happy to announce that we would invest $7 billion in the state of Michigan to further our EV manufacturing,” Barra said. “We want to have a portfolio of EVs.”
Biden said he was happy to hear Barra’s announcement and that climate change means jobs, which Barra and GM are proving.
“I meant it when I said the future was going to be made right here in America. Companies like GM and Ford are building more electric vehicles here at home than ever before,” Biden tweeted with the video.
Related Link: Elon Musk Has A Laugh As President Biden Says Detroit Leading The World On EVs
Why It’s Important: The post didn’t go unnoticed by Musk, who heads the company that produced more electric vehicles than any other automotive company.
Musk offered a clue to anyone who wanted to guess who the leader in electric vehicles was, providing this:
“Starts with a T, Ends with an A, ESL in the middle.”
Starts with a T
Ends with an A
ESL in the middle— Elon Musk (@elonmusk) January 27, 2022
The tweet from Musk got lots of engagement along with many replying to Biden about the message he was sending by overlooking Tesla and highlighting companies such as General Motors and Ford Motor Company (NYSE: F).
Dogecoin (CRYPTO: DOGE) creator Billy Markus asked, “What about the largest electric car maker in the world that is also in America that literally makes several hundred times more electric cars than the ones you named, Joe?”
In case Biden hasn’t yet heard of Musk, Gerber Kawasaki CEO Ross Gerber provided an introduction via Twitter.
“Biden. Let me introduce Elon Musk. The American businessman who started the EV revolution. It’s a bit embarrassing this praise of two of the companies producing the most gas vehicles that are destroying the environment,” Gerber tweeted.
The tweet from Biden got more than 11,000 likes, which failed in comparison to the 52,000 likes that Musk’s response received.
“Elon Musk ratioed the President of the United States,” Unusual Whales said referring to a phrase used to describe when someone’s reply gets more engagement than an original tweet on Twitter Inc (NYSE: TWTR).
Tesla reported fourth-quarter production of 305,840 electric vehicles and more than 900,000 for the full fiscal year.
In case you were wondering, the answer to the riddle is TESLA.
Photo: President Joe Biden official Facebook page
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
]]>- Cardano price has climbed 31.77% since July 21, but it has been a rally marked by huge intra-day swings and the empathic resistance of the 2018 high.
- ADA daily Relative Strength Index (RSI) has not reached an overbought reading, proposing more upside.
- Digital token releasing from a symmetrical triangle and triggering a bullish Golden Cross on the six-hour chart.
Cardano price fell -4.66% in July and failed to close above the 2018 high of $1.40. Due to the active head-and-shoulders pattern and the resilience of the 2018 high, the ADA outlook is still mixed. However, the emergence of a symmetrical triangle breakout combined with a Golden Cross on the six-chart improves the opportunity for a daily close above $1.50 and a transition from rally to advance.
Cardano price is golden, looks for a strong bid
Cardano price may provide a clue on the six-hour chart as the bullish Golden Cross pattern coincides with a symmetrical triangle breakout. It is the first Golden Cross pattern since the launch of the remarkable ADA rally in November 2020.
The measured move of the symmetrical triangle is 13.61%, projecting a Cardano price target of $1.57. The move may be insignificant, but it would void the head-and-shoulders pattern and confirm the ADA transition from rally to advance.
The only visible obstacle is that the breakout and Golden Cross are triggering as Cardano price tests the 2018 high again.
ADA/USD 6-hour chart
On a daily chart, the head-and-shoulders pattern is revealed with a measured move of 60% and a Cardano price target of $1.37 based on the 61.8% Fibonacci retracement level of the advance from the March 2020 low as the neckline. A collapse of that size would easily dismantle the support at the 50-week simple moving average (SMA) at $0.78 and knock ADA below the April 2018 high of $0.41.
Thus, the clarity offered by the six-hour chart is fundamental in solving the Cardano price riddle in the coming hours or days. A continuation of the breakout from the symmetrical triangle, strengthened by the Golden Cross, may generate the price momentum to close ADA above the right shoulder at $1.50 and permanently fracture the resistance of the 2018 high of $1.40.
ADA/USD daily chart
At this point, it is all about follow-through for Cardano price. A continuation of the symmetrical triangle breakout and a daily close above $1.50 may finally repair the ADA price structure that has confounded investors since the May crash.
Here, FXStreet’s analysts evaluate where ADA could be heading next as it seems bound to advance further.