Investing.com – In addition to the breakout above the $ 3 mark, the upcoming Alonzo upgrade is also providing a tailwind. The upgrade, which comes on September 12, represents a milestone for the Cardano ecosystem. Finally, ‘Alonzo Purzle’ brings the smart contract functionality to the Cardano blockchain and opens the doors to DeFi and dApps for the network. The ADA cryptocurrency of the Cardano blockchain is currently receiving a fundamental tailwind. Incidentally, this also includes a listing of the native token on a Japanese exchange. Since the regulatory environment in Japan is one of the strictest in the world, entering the market is anything but easy. The Japanese exchange Bitpoint also allows trading with, and.
And technically, too, the starting position looks good. We are sticking to this constructive assessment as long as the key range from the former record high and horizontal support at $ 2.46 to $ 2.32 is not fallen below.
With the spurt above the absolute key size of 3 dollars, the Cardano rate has dissolved an ascending triangle, the mathematical connection potential of which can be estimated at almost 55 cents or 16 percent. The price target is $ 3.53.
There is still no sign of a slowdown in momentum on the indicator side, as the course of all the moving average lines we have observed easily shows. The 50-day line is above its counterpart for the last 100 days, which in turn is above the 200-day line. As a consequence, we can currently speak of an intact upward trend that could bring further profits to Cardano investors in the short term.
Note: This article does not constitute investment advice or a solicitation to buy or sell any assets. Nor does the article purport to predict the development of the Cardano price. This is only a subsequent comment on the ADA development, which is intended to inform Cardano investors about the latest crypto news and the technical starting position of the.
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