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?
Голем број причини, според истражувачот на крипто Бенџамин Кауен, би можеле да му забранат на Кардано (АДА) да започне трка со бикови токму сега.
Кауен ги информира своите 692,000 гледачи на YouTube дека Биткоинот (BTC) е „број еден“ ограничувачки фактор што може да спречи зголемување на цената на ADA во ново видео.
Според аналитичарот, Биткоинот управува со здравјето на пазарот и ако вредностите на Биткоинот останат мрачни, ќе биде тешко за АДА целосно да го прекине тој 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.
„Бандата за поддршка на пазарот на бикови“ на ADA, според Кауен, се движи од 1.64 до 1.81 долари. Опсегот за поддршка на пазарот на бикови е технички показател кој го комбинира 20-неделниот SMA со 21-неделниот експоненцијален подвижен просек (EMA).
Според аналитичарот,
“That [$1.81] can be viewed as some short-term barrier.”
Платформата за паметни договори Cardano работи на голем број проекти за 2022 година. Влезен излез Хонг Конг (IOHK) неодамна ги објави намерите да ја прошири мрежата оваа година, вклучително и употребата на странични синџири, кои се секундарни блокчејни поврзани со главниот синџир и овозможуваат трансфери на средства меѓу нив.
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/