Nothing stops the Cardano (ADA): + 136.9% in 30 days!
The big winner in the recent recovery of the crypto market is Cardano (ADA). Ethereum’s biggest competitor has seen its value more than double during this new boom. Its price has dropped from € 0.96 on July 22 to...
The big winner in the recent recovery of the crypto market is Cardano (ADA). Ethereum’s biggest competitor has seen its value more than double during this new boom. Its price has dropped from € 0.96 on July 22 to € 2.42 at the time of writing.
Cardano (ADA) was able to count on Alonzo’s update to break new stock market records. Through this update, users will be able to develop and use smart contracts on the Cardano network. The market also welcomed the announcement of a Cardano-backed stablecoin, the Djed.
These two crypto-specific factors together with the market boom effect have propelled ADA to new heights. The ATH of € 1.88 has already been crossed. Now the crypto is aiming straight for € 2.50 by the end of August. From September, the € 3 bar should be achievable.
Cardano’s recent performance confirms its 3rd place
Binance Coin in turmoil over regulatory authorities leaves third place to Cardano, which since the recovery has continued to grow in the market. Now the Cardano is targeting 100 billion market capitalization. Once crossed, the Cardano would become behind Bitcoin and Ethereum, the third cryptocurrency to have reached this milestone on the stock market.
Its market cap is currently estimated at 90.4 billion dollars, gaining 53 billion over the last thirty days. It has an advance of more than 13 billion on the BNB which also saw its market cap increase by 26 billion dollars over the same period. What an extraordinary comeback for a crypto whose market capitalization was valued at $ 3.25 billion a year ago. The ADA comeback is just amazing.
INVESTING IN CARDANO: HOW TO INVEST IN ADA EASILY?
What does technical analysis tell us?
Hourly Chart of Cardano (ADA) to Euro
Over the last 24 hours, the price of Cardano has increased by 12.96% with a new ATH of € 2.42. After the ADA closed all three daily candles in the red over the weekend, the likelihood of a slight correction is to be expected for Monday’s session.
In addition, depending on the graphic model, ” Shoulder-Head-Shoulder “, The hypothesis of a decline is beautiful and very likely. ADA has already posted three highs during its recent bullish move, we are now in the lead. So if the crypto should to reproduce the graphical pattern ” Shoulder-Head-Shoulder “, The drop in ADA could be heavy in the days to come as it is expected to descend to the other shoulder. Normally, go back to € 2.10, the second peak of the shoulder.
Still, the daily MACD is promising as it crosses the buy signal line. The RSI is in the runaway zone with a value of 70.83. The current price greatly exceeds the moving average of 200 estimated at € 1.98, crossed since August 22. All signals that should fuel a rise in the value of Cardano.
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