Can Cardano Maintain Its Rally? Cardano goes ‘full send’ with 50%
The crypto market is once again painted in red, and Bitcoin’s price is no less than a suspense thriller movie these days, with the commodity plunging hard below $41,000 whenever a breakthrough above $43,000 is near.
Despite a world-record-breaking token burn, the price of ETH has yet to rise. With recent outperformers like Cardano reversing the excellent trend, it’s as if traversing a deep sea. The ADA price might either skyrocket or plummet into a deep chasm.
ADA bulls have pushed the price for the upcoming SundaeSwap DEX launch builds.
At the start of this week, Cardano (ADA) was trading within striking range of its three-week high, prompting some investors to predict a trend reversal. In truth, the bullish trend stems mostly from the expectation of the planned SundaeSwap decentralised exchange (DEX).
A day after SundaeSwap announced the debut of its “fully-functional beta decentralised exchange (DEX),” the ADA price climbed about 12% to an intraday high of $1.60 on Jan.17. Nonetheless, the upward movement was part of a larger comeback trend in which ADA gained nearly 50% in just seven days.
After taking cues from the euphoria around the SundaeSwap DEX launch on Jan. 20, ADA initially trailed the crypto market’s reversal, but eventually resumed its upward momentum on its own. As a result, on a 24-hour adjusted period, ADA was one of the strongest performers among the top ten cryptocurrencies.
What gives SundaeSwap such hope for ADA?
SundaeSwap’s official DEX launch announcement included indications of growing demand for ADA tokens in the future, which is often a bullish indication for investors.
The DEX platform also provided three options for consumers to get their hands on its native SUNDAE token: an initial stake offering (ISO), yield farming, and direct exchange-based conversion.
During the ISO round, SundaeSwap said it would share 5% of the total SUNDAE supply over five epochs. At the end of each epoch, a five-day reward cycle, users delegate their ADA tokens to a stake pool.
Can ADA Price continue it’s rally?
Бројни разлози, према крипто истраживачу Бенџамину Ковену, могли би да забране Цардано (АДА) да сада покрене трку бикова.
Кауен обавештава својих 692,000 ИоуТубе гледалаца да је биткоин (БТЦ) „број један“ ограничавајући фактор који би могао спречити да АДА-ина цена порасте више у новом видеу.
Према аналитичару, Битцоин управља здрављем тржишта, а ако вредности Битцоина остану мрачне, АДА ће бити тешко да у потпуности прекине тај тренд.
The price of ADA jumped from $1.19 a week ago to $1.61 on Tuesday, though it has since dropped to $1.43 at the time of writing.
Према Цовен-у, „опсег подршке биковом тржишту“ АДА-е креће се од 1.64 до 1.81 долара. Опсег подршке биковом тржишту је технички индикатор који комбинује 20-недељни СМА са 21-недељним експоненцијалним покретним просеком (ЕМА).
Према аналитичару,
“That [$1.81] can be viewed as some short-term barrier.”
Платформа за паметне уговоре Цардано ради на бројним пројектима за 2022. Инпут Оутпут Хонг Конг (ИОХК) је недавно најавио намере да прошири мрежу ове године, укључујући употребу бочних ланаца, који су секундарни блок ланци повезани са главним ланцем и омогућавају трансфер средстава између њих.
According to IOHK CEO Charles Hoskinson, Cardano’s technological elements will be able to compete with those of other leading smart contract platforms. Hoskinson has highlighted a number of advancements that he claims will be completed this year.
Traders, on the other hand, should keep track of how successful these planned enhancements are, according to Cowen.
Source: https://coinpedia.org/altcoin/big-day-for-cardano-what-can-ada-hodlers-expect-on-january-20th/