The Shelley hard fork earlier this year proved 2 things: 1. that it can successfully coordinate a community wide fork, a critical component to their community governance perspective, and 2. that Cardano is ready to come out and play. The Shelley hard fork allows creators to plug in smart contracts to the Cardano network, allowing for wider creation of ADA-accepting storefronts and industry applications. Cardano’s founder has promised big news by EOY and this current price action implies potential leaps and bounds for ADA’s price point.
We haven’t been this high since 2018, but the peak then mapped out resistance levels at approximately every $0.04, allowing regular entry and exit points to accrue modest gains before testing the next resistance level. I’ve been contemplating HODL’ing ADA since around $0.10, but now i see that the time to get this coin before $0.20 is swiftly running short.
The slight rush up to $0.20 in Sept 2018 leads me to believe this is a very strong resistance level for the currency and see no trouble with ADA reaching it soon - probably this week. From there, a moonshot signal would be seeing ADA dominate the $0.20 level, at which point $0.40 seems likely.
Competitors to watch or diversify in are ETH, EOS, and ALGO.
Not financial advice.
We haven’t been this high since 2018, but the peak then mapped out resistance levels at approximately every $0.04, allowing regular entry and exit points to accrue modest gains before testing the next resistance level. I’ve been contemplating HODL’ing ADA since around $0.10, but now i see that the time to get this coin before $0.20 is swiftly running short.
The slight rush up to $0.20 in Sept 2018 leads me to believe this is a very strong resistance level for the currency and see no trouble with ADA reaching it soon - probably this week. From there, a moonshot signal would be seeing ADA dominate the $0.20 level, at which point $0.40 seems likely.
Competitors to watch or diversify in are ETH, EOS, and ALGO.
Not financial advice.
