Cardano is not left behind by the current revival, as Bitcoin or other popular altcoins. According to CoinMarketCap, the ADA chart shows that the native currency is currently up approximately 4% over the past day, and roughly 17% for the week prior. data.
Bulls to lift ADA by 2X
One analyst believes that ADA will continue to make gains, even as it reverses its recent losses. An analyst wrote a blog post about X. said ADA could reach a price of more than 2X over the next few months.
It is the technical aspect of bullishness that will determine the outcome. This can be seen in the arrangement and size of candlesticks on the daily chart. ADA’s price has risen by nearly 40% in the last eight weeks, from less than $0.35 at time of press to more than $0.44.
This surge is also accompanied by a good trading volume. While prices have moved sideways for the last few days, there is a clear upward trend. At this rate, ADA Bulls seem to have their sights set on $0.51, immediate liquidation, and the May 2024 highs.
The expansion of ADA from pits in June and August 2024 means that the coin has broken up from a bear flag. Analysts noted the decisiveness of the 13th July surge, which was above the trend line and the descending wedge. The bulls confirmed that the trend was up and backed optimistic buyers.
It is expected that the price will rise. ADA, a popular altcoin that benefits from the recovering Bitcoin and Ethereum price, is gaining momentum. In addition, investors are relying heavily on fundamental factors such as the Chang Hard Fork, which is set to take place in the near future. next Two weeks.
Cardano Prepares for Chang Hard Fork and Voltaire
Cardano is growing. Each transition has benefited ADA holders and prices from Byron Basho. So, ADA seems to have increased in price as well, just like the price of the Chang Hard Fork.
This update marks the start of the Voltaire Era. In this phase, it is the goal to decentralize government by giving voting rights for ADA holders. Cardano’s developers will introduce Delegate Representatives to facilitate the decision-making process. Furthermore, the goal will be to improve transaction processing speeds further and boost the network’s security.
Cardano Node 9.0 was released by the development team ahead of Chang hard fork. The end of the primary development was marked by this major update to nodes. work The start of the on-chain government. However, even minor modifications will be required to fully integrate the Cardano constitutional elements.
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Source: www.newsbtc.com