Reason Why Crypto Market Undervalued Cardano (ADA)

•  While writing this Article, Cardano native ADA is trading at $0.4764.  

Cardano has already announced the dates of the Vasil hard fork, the upgradation of the mainnet started on 12th September, and the launch of the Plutus V2 cost Model will be live on the mainnet on 27th September. 

Cardano(ADA) is hardly responding to the positive changes. The news of rising inflation in the United States suggests even tighter monetary policy regulation.   

It is also believed that the prices of Cardano did not gain a proper hike because Ethereum Merge gathered massive importance. During this time, no one could remember the first upgrade of Cardano, which took place on 12th September. 

 When writing this Article, Cardano native ADA is trading at $0.4764 with a market cap of $16,279,531,749. ADA, in the last seven days, traded highest on 11th September 2022 with a trading value of $0.5235. All time highest trading price of ADA is Around $2.9682. The token is listed in the 8th position in the top ten digital assets.     

If the bears take over the coin, the price may follow the downward trend then the price could fall to the secondary support of $0.4210. If the bulls could make it up to the plate to raise hopes for the investors, the price could boost up to the primary resistance of $0.540. The price could also follow upward if the bulls push themselves a bit more, and the price may reach the secondary resistance of $0.571, bringing new hope for the investors.     

It is assumed that the advancement of Cardano’s mainnet and upgradation of Alonzo will prove to be a remarkable change and will ultimately help Cardano to gain its real position in the market.   

Source: https://www.thecoinrepublic.com/2022/09/15/reason-why-crypto-market-undervalued-cardano-ada/