Fundamentally, Cardano (ADA) is solid and from the charts, it looks like odds of further upsides are high. In that regard therefore, we shall hold a positive picture and aim for first targets at 40 cents.
From the News
In a matter of days, we have seen this exponential growth in Cardano’s value. Currently- on a weekly basis, Cardano is up 45 percent and less than $1 billion away from flipping Litecoin and becoming the seventh most valuable coin in the world. Nevertheless, here’s the thing.
— Copy-Trading (@SmartInvest4) July 15, 2018
Bitcoin jump in valuation is definitely behind this revival but then again, the prospects of being listed at CoinBase could be another reason. Fact is ordinary investors don’t care about the nitty gritties from CoinBase. The mention of ADA was enough to spur a frenzy of buying activity pumping prices to these new levels.
On another angle we can be the research findings of eToro, the Israeli based social trading platform. Regardless of the state of development-remember Cardano is still in development-they went ahead concluding that the project is indeed promising and important.
— KLD (@CryptoKeish) July 18, 2018
Cardano describes itself as a product of research and its PoS consensus is peer reviewed and would probably define a new standard of consensus that other coins would follow. In the words of Mati Greenspan, a market analyst at the exchange, he said Cardano is “flexible” and “scalable” than Bitcoin and Ethereum and that they are leading the charge creating this “blockchain 3.0”.
By all account, this is a shill but until the smart contract and Ethereum’s competitor goes live, we shall remain conservative if not cautious.
Cardano (ADA) Technical Analysis Weekly Chart
Before this bull