Price Analysis

ADA Price holds up well! Cardano Blockchain On To Big Ups in Next 2 Months

Cardano Price is fairly calm today after a dive yesterday following a Bitcoin downtrend from $40K. While most tokens have retraced heavily overnight ADA has held up well in comparison. 

As the entire crypto market soar yesterday, ADA too started a rally breaking resistance at $1.20 the token hit a high of $1.36. However, the retracement that followed right after got the altcoin to stoop below $1.30 support levels and settling back to where it started at $1.21.

Since then ADA Price has again started a decent uptrend. At the time of writing, ADA is trading at $1.27. The major resistance is at the $ 1.30 level. 

A close above $1.30 will validate a further surge towards $1.40. If this plays out the next resistance will be at the $1.50 level. 

Hoskinson Hints at Major Developments Soon!

The Founder Charles Hoskinson and the Cardano Blockchain are being criticized for not living up to their promises by some folks on the crypto Twitter. One such criticism was by Twitter user S.Z Tanyel who said, There is no chance $ADA will have a functioning smart contract on mainnet in 2021

Hoskinson was quick to reply to this. He called his critic delusional and hinted that the developments in the next two months will be an apt answer to them.

The Cardano Blockchain is undergoing development to upgrade its network and add several key features, especially the much-awaited smart contracts capabilities. 

Also, the developers are working on adding support for web browsers and mobile devices. This is set to make Cardano’s smart contracts compatible with web browsers.

Lastly, the Alonzo upgrade has started its third and final phase, i.e purple, and is set to be completed by the end of next month. The Alonzo upgrade will also include an ERC20 token converter, allowing Ethereum-based tokens to be used on the Cardano network.

Haripriya Sureban

A writer and a Crypto fanatic exploring the DeFi Space. Staying abreast on all the crypto trends and trivia is my forte. For the rest I nerd out on movies and series.

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