Since March, Cardano (ADA) has experienced recurring periods of significant price declines. However, crypto pundit Dan Gambardello, a popular analyst on the Crypto Capital Venture’s YouTube channel, predicts a potential bullish reversal based on an analysis of the weekly and daily charts.

Key Technical Indicators Support Bullish Outlook

According to the analyst in a recent video, ADA is poised for a significant breakout, potentially reaching around $31, representing a remarkable 8,500% increase from current levels. The analyst highlighted that the market has experienced “180 days of downside” since March, creating favorable conditions for this anticipated surge. 

He further suggested that ADA could break its current cycle of lower highs and lower lows, citing key technical indicators, particularly the MACD (Moving Average Convergence Divergence) on the weekly chart, which is showing signs of a bullish crossover. “The macro momentum of Cardano is signaling its readiness to bottom,” he said, emphasizing the upward momentum of the MACD histogram since May.

However, he cautioned that ADA has yet to decisively move above the 20-day and 50-day moving averages. He warned that while testing key levels, the move could fail, advising patience until more price action confirms a true breakout. While some analysts view Dan Gamberdello projections as overly optimistic, crypto analyst Sssebi has offered a more conservative forecast.

He forecasts a rally of 20x to 30x for Cardano over the next year. Sssebi noted that Cardano current position mirrors its state during the last cycle, indicating a major rally may be imminent. He predicts that Cardano could hit a minimum price of $5 by 2025, with a possible peak of $10 during the height of the bull market.

Cautious Outlook For Cardano

However, not all analysts are as bullish. Trader “Lingrid” has adopted a more cautious perspective regarding Cardano (ADA), predicting a short-term pullback for the cryptocurrency. In a recent post, he noted that “ADAUSDT appears bearish on the daily timeframe,” forecasting a potential decline to $0.325 and suggesting that ADA may remain within the consolidation zone between $0.30 and $0.34 for an extended period.

This negative outlook is further reinforced by the bearish on-chain metric. According to Coinglass, ADA’s Long/Short ratio currently stands at 0.926, indicating a prevailing bearish sentiment among traders.

Furthermore, its future open interest has declined by 3.8% in the last 24 hours and has been steadily falling. This suggests that traders are either liquidating their positions or hesitant to establish new ones.

At press time, ADA was trading near the $0.352 level and had experienced a modest price decline of 0.8% in the last 24 hours. During the same period, its trading volume had dropped by 18%, indicating lower participation from traders amid selling pressure.

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Cardano (ADA) is finally at stage three of this current market cycle, with analysts foreseeing a massive 4,500% price rally to $15. This projected price increase is set to offer dedicated investors and holders a small window of opportunity to make gains from the popular altcoin. 

Cardano (ADA) Set Sights On $15 Price Surge

Crypto analyst, Remi Benays has announced on X (formerly Twitter) that Cardano is at a crucial stage of this market cycle, characterized by potential price rallies to new all-time highs around $15. Sharing a historical price chart of Cardano, Benays highlighted a unique recurring bullish pattern in the cryptocurrency’s movements from 2018 till date. 

The analyst noted that from 2018 to 2021, Cardano experienced a period of severe price decline, followed by a period of consolidation, a fake bounce and ultimately a dramatic price surge.

To be more precise, the cryptocurrency crashed by 98% between 2018 and 2019, then experienced a ghost chain fake bounce around 2020 and early 2021, and then exploded with an astonishing 18,000% gain after the Bitcoin halving event in 2020. 

Benays has identified a similar trend from 2021 to 2024. The analyst disclosed in his chart that ADA was down by a whopping 92% in 2023, before experiencing a double fake bounce around April 2024. 

Considering Bitcoin concluded its halving event on April 20 this year, the analyst foresees a mega pump to $15 for ADA by 2025. This substantial price increase would push ADA’s market capitalization to $500 billion from its current value of $11.9 billion. Moreover, it would represent a massive price rally of over 4,500% for the altcoin. 

While some may consider Benays $15 ADA forecast as overly ambitious, the analyst has envisioned an even more bullish scenario. He expects ADA to continue rising from his initial target of $15 to $31 by 2026. A rally to this substantial price level would place Cardano’s market capitalization at $1 trillion, exceeding the combined valuations of Solana (SOL) and Ethereum (ETH). 

Analyst Offers More Conservative XRP Price Forecast

Taking a more conservative approach, crypto analyst Sssebi has predicted a 20X to 30X rally for Cardano in the next 12 months. The analyst disclosed that Cardano is “exactly where it was last cycle around this time,” suggesting that the cryptocurrency is well-positioned for a significant rally. 

He projected that Cardano could potentially reach a minimum price level of $5 by 2025 and a maximum value of $10 at the top of the bull market. Currently, the price of ADA is trading at $0.33, reflecting a 2.58% decrease over the past week. A jump to $5 or even $10 would require the cryptocurrency to rally by approximately 1,415% and 2,930%, respectively. 

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The overall bearish sentiment for Cardano (ADA) continues to rise as analysts now foresee a massive 33% price crash for the altcoin. This pessimistic projection comes as ADA struggles to gain traction in the market, with its value remaining stagnant or steadily dropping to lower levels. 

Cardano (ADA) Crash Incoming

Compared to other prominent altcoins in the crypto market, Cardano has performed poorly, struggling with price declines and sluggish growth. Consequently, a crypto analyst, identified as ‘Financialfreedomgoals’ on TradingView, predicted that cryptocurrency is likely to experience more than a 30% crash to new lows. 

The analyst notes the broader negative state of the current crypto market, highlighting that most altcoins are stuck in a “bearish rut.” He disclosed that rather than achieving new all-time highs, these coins have been setting fresh lows, underscoring the persistent downtrend and decreased confidence amongst investors. 

Cardano, in particular, has had its share of negative sentiment and volatility. The cryptocurrency has stayed unwaveringly below the Exponential Moving Average (EMA) 200 line, a key technical indicator traders often use to gauge long-term trends. Typically, when the price of a cryptocurrency stays below this line, it tends to signal a continuation of a bearish trend. 

Given the present bearish state of the market, the crypto analyst has dismissed the idea of an upcoming altcoin season, where the majority of cryptocurrencies excluding Bitcoin experience significant price gains. 

On the daily time frame, Cardano is trading below the EMA 200 line and the bearish trend line. Initially, a rising wedge pattern had formed on the cryptocurrency’s price chart, however instead of breaking out, Cardano saw a series of negative candlesticks alongside a bearish crossover on the Moving Average Convergence Divergence (MACD). 

This series of negative indicators suggests that bears may be tightening their grip on Cardano’s price. As such, the crypto analyst foresees the ADA continuing its descent to reach fresh lows at target areas: 0.2506 or 0.2197. These targets are calculated using the Fibonacci retracement ratios of 1.272 and 1.618. 

0.3815 Resistance Could Trigger Bullish Surge

Despite maintaining a largely bearish stance on Cardano’s price outlook, Financialfreedomgoals has hinted at a potential bullish turnaround. He has suggested that a price reversal for ADA could be possible if the price of the cryptocurrency manages to break above the key resistance at 0.3815 Fibonacci level. 

Crypto analyst Sssebi shares an even greater bullish outlook for Cardano. He highlights that during the previous bull market, ADA’s value increased by more than 100X. As a result, the analyst believes that ADA will rally by at least 20X in this current market cycle, expressing even stronger confidence that the cryptocurrency will reach $5 soon. 

As of writing, the price of ADA is trading at $0.3576, reflecting a significant increase of 11.39% over the past week, according to CoinMarketCap. 

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• ADA’s price has rebounded to $0.343 after a low of $0.3054 amid market volatility.
• Mysterious transactions involving large ADA amounts stir speculation and concern.
• The Cardano ecosystem grows with increased transactions, wallets, and Plutus scripts.

Cardano (ADA) has been in the spotlight recently, facing a mix of market turbulence and intriguing developments. Notably, mysterious wallet transactions involving millions of ADA have stirred speculation and heightened market interest.

Despite this, the Cardano ecosystem continues to showcase impressive growth, with significant increases in transactions, wallets, and development activities reported in recent updates.

Cardano (ADA) going through a turbulent phase

Cardano’s price has been navigating a turbulent phase, marked by recent volatility. After hitting a low of $0.3054 on September 7, ADA’s price has shown some bullish trends, surpassing $0.34, which hints at potential market recovery.

The cryptocurrency’s price surge, currently trading around $0.343, reflects a general resurgence across digital currencies. This positive price movement comes amid rising trading volumes and open interest, suggesting increasing investor confidence.

However, there are concerns about the impact of the recent revelations of mysterious wallet transactions involving a top Cardano wallet that initiated a large-scale transaction that, coincidentally, occurred during significant network congestion linked to a new platform release.

Mysterious ADA transactions

The mysterious transactions involving ADA began with a user converting SOL to ADA using SimpleSwap, with the ADA being directed to a new wallet created through GeroWallet. This wallet then transferred ADA to another new Vespr wallet. The transaction faced delays but was eventually completed.

Subsequently, a large amount of ADA was transferred back to the original wallet and then returned to Solana.

This sequence of transactions was further complicated by the involvement of a wallet flagged as an ‘enterprise address’ on Cexplorer, typically used by exchanges and custodians. This address, known as vx7j28, had been active for 12 days and handled a significant volume of ADA.

Speculation has arisen about whether this wallet’s activity is linked to exchange operations or network anomalies, such as reorgs or stress-induced issues.

The wallet’s behaviour, including receiving a substantial amount of ADA and transferring it back shortly after, suggests either an unusual network edge case or potential deliberate manipulation. This has led to widespread discussions and investigations within the crypto community to understand the full scope and impact of these transactions on the Cardano network.

Key metrics point to Cardano ecosystem growth

Despite the market turbulence and mysterious transactions, the Cardano ecosystem has shown remarkable growth. According to the Cardano Foundation’s August 2024 report, several key metrics highlight this expansion:

• Transaction Volume: Cardano network transactions grew by 1.51% in August, reaching 95.9 million transactions.
• Wallets and Delegated Wallets: The number of wallets increased by 0.67% to 4.87 million, with delegated wallets growing by 0.98%.
• Plutus Scripts: The number of Plutus scripts rose by 0.75% to 6,709.
• Native Tokens: Native tokens saw a 0.85% increase, totalling 10.3 million, with token policies up by 6.53% to 160,299.

In addition to these metrics, Input Output Global (IOG) reported that as of August 30, 2024, there are 1,373 projects actively building on Cardano. The number of token policies increased by 8,375, and 110,000 new native tokens were minted.

Plutus scripts experienced a significant rise of 5,995, reaching a total of 74,729. Furthermore, the total number of transactions saw an increase of 1.5 million over the month.

This growth underscores the ongoing development and expansion within the Cardano ecosystem, showcasing its resilience and potential despite market challenges.

As Cardano (ADA) navigates a complex landscape of market fluctuations and mysterious transactions, the underlying growth in its ecosystem reflects a positive and robust trajectory.

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ADA falls from the top 10 list of largest cryptocurrencies as competing blockchains see an uptick in users. 

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• Analysts projects ADA could hit $5, supported by strong development and technical patterns.
• Poodlana’s presale has raised over $7.6M with only hours to the presale end.
• The token is expected to list on Raydium and MEXC immediately after the presale comes to an end.

Cardano (ADA) has faced considerable scepticism in recent weeks, with its price dropping significantly. However, some analysts see a bullish future ahead.

Meanwhile, the new cryptocurrency project Poodlana (POODL), branding itself as “The Hermès of Crypto,” is generating excitement as investors eagerly await the end of its presale and upcoming token listings.

Analysts believe Cardano (ADA) will hit $5 despite current bear pressure

ADA has recently been labelled by some in the crypto community as a “dead coin,” primarily because it has lost over 90% value since hitting an all-time high in 2021.

However, despite the bearish sentiment, Cardano remains one of the top 10 cryptocurrencies by market cap, demonstrating its resilience and underlying value.

Analyst Nick Black from the “Discover Crypto” YouTube channel has presented a more optimistic outlook for ADA, projecting that the coin could reach $5. His analysis is based on several factors, including Cardano’s strong developmental activities and promising technical patterns.

Cardano ranked third among all crypto projects in developmental activity last month, which suggests that its ecosystem is far from stagnant. This vibrant development challenges the notion that Cardano is a “dead coin,” and instead paints a picture of a project still very much alive and evolving.

From a technical analysis perspective, a key pattern known as the “Break a Block” has been identified on ADA’s monthly chart, accompanied by a bullish stochastic crossover. These indicators often precede significant price movements, and the fact that they are emerging now could signal a substantial upward trajectory for Cardano.

Additionally, Cardano’s Market Value to Realized Value (MVRV) Long/Short Difference has fallen to -9.726%. This negative value indicates that most ADA holders are currently at a loss, a condition typically associated with market bottoms.

Coupled with a 31.01% surge in Open Interest, reflecting increased speculative interest, and an RSI of 40.27, which places ADA in oversold territory, the conditions appear ripe for a potential rebound.

However, there are mixed signals to consider. The number of whale transactions has decreased significantly, from nearly 9,000 on August 5 to just 3,590. This reduction could imply that larger investors are hesitant, reflecting uncertainty in the market. Despite these concerns, if ADA can hold above key support levels, it may very well break through resistance and move closer to the $5 mark.

Poodlana: “The Hermès of Crypto” nears its exchange listing

While Cardano navigates its complex market dynamics, a new player, Poodlana (POODL), is poised to make its grand entrance. Poodlana has captured the attention of investors with its unique branding as “The Hermès of Crypto,” promising a glamorous and community-driven experience. The project’s presale is nearing its conclusion, with significant milestones just around the corner.

Poodlana has already raised $7,648,103.5, reflecting strong investor confidence and anticipation. The presale is scheduled to end within hours, with the token set to be listed on the Raydium DEX at 12:00 PM UTC on August 16, just 60 minutes after the presale ends.

Following this, POODL will be listed on the MEXC centralized exchange on August 19 and on a second CEX on August 23.

The final presale price is set at $0.0539, with the listing price at $0.060, offering early investors a potentially lucrative opportunity.

Poodlana’s approach to marketing and community building is as distinctive as its brand. The project emphasizes creating a chic community of trendsetters and tastemakers, supported by glamorous marketing campaigns, collaborations with high-end fashion brands, and appearances on lifestyle platforms.

This strategy has already led to significant attention in Asia, where Poodlana is being hailed as the next big meme coin sensation.

Looking ahead, Poodlana plans to launch a staking platform where holders can earn rewards, roll out exclusive airdrops, and expand globally, particularly focusing on Asia. The project also aims to engage in philanthropic efforts, aligning itself with a more compassionate vision for the future.

As Poodlana investors count down the hours to the token’s debut on exchanges, the excitement is palpable. With its strong pre-sale performance, innovative marketing, and ambitious roadmap, Poodlana is well-positioned to make a significant impact in the crypto world.

Conclusion

Both Cardano and Poodlana represent intriguing opportunities within the cryptocurrency space. While Cardano navigates its challenges with a potential for significant price recovery, Poodlana prepares for a grand debut that could set the stage for future success.

Whether ADA will reach $5 or POODL will fulfil its glamorous promise remains to be seen, but both projects are certainly worth watching closely.

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According to the analysts on the Discover Crypto YouTube channel (with 1.4 million subscribers), Cardano might surge to $5. This prediction starkly contrasts with the pessimistic views currently circulating within the broader cryptocurrency community, challenging recent headlines that have questioned ADA’s future viability.

Why Cardano Could Hit $5

The analyst first addressed the negative sentiment surrounding Cardano, pointing out a series of bearish headlines from various crypto news outlets. He highlighted the contradiction between the public perception of Cardano as a “dead coin”t and the ongoing vigorous development activities within the Cardano ecosystem.

“Despite what the mainstream media is portraying, the development activity on Cardano has been robust, ranking third among all cryptocurrencies,” the analyst asserted. This was further emphasized by recent data showing that developers continue to build and refine the platform, indicating a healthy and active development environment.

Focusing on the forthcoming Chang hard fork, the analyst described this event as a pivotal moment for Cardano. “The Chang hard fork represents the most significant milestone in Cardano’s history,” he noted. He added, “Maybe articles are out there trying to suppress the price right before the price goes parabolic and just rallies to the upside potentially even $5 this cycle.”

From a technical analysis standpoint, the analyst introduced the “breaker block pattern,” a less common but noteworthy technical chart pattern often used by traders. The breaker block pattern occurs when a corrective price block is fully retraced after a strong directional market move.

This pattern is considered bullish as it typically indicates that after a period of price consolidation or correction, the original bullish trend has regained strength and is likely to continue. “We’re observing a classic breaker block formation in ADA’s chart, which historically precedes significant price rallies,” explained the analyst.

Coupled with this pattern, the analyst pointed to a promising stochastic RSI crossover on the monthly chart—a technical indicator often used to predict changes in momentum. “The stochastic RSI is about to cross, and this is a very bullish sign historically. When this blue line passes the orange line, it sets up previous rallies, which we can clearly observe if we look back at the charts,” explained the analyst.

The discussion also extended to market dynamics, specifically the order book data for ADA, which showed a predominance of buy orders over sell orders. “A glance at the order book reveals a significant inclination towards buying rather than selling, suggesting a strong market consensus leaning towards a bullish trajectory for ADA,” he commented.

In conclusion, the analyst urged viewers to look beyond the negative headlines and focus on the substantial foundational improvements and strong technical indicators that support a bullish outlook for Cardano. “Ignore the detractors and the negative press. The data, the developments, and the technical indicators all align to suggest that ADA is poised for a significant upward movement, potentially reaching as high as $5 in this cycle,” he concluded.

At press time, ADA traded at $0.3379.

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Cardano (ADA) is currently competing with Ethereum in terms of large transaction volume. This is undoubtedly a positive development for the ADA ecosystem, especially since it indicates a wave of accumulation among the token’s large holders. 

Cardano Matches Ethereum In Large Transaction Volume

Data from the market intelligence platform IntoTheBlock shows that Cardano is witnessing a similar large transaction volume as Ethereum. In the last 24 hours, Cardano recorded a large transaction volume of $6.7 billion, while Ethereum witnessed a large transaction volume of $6.71 billion. 

This development suggests that Cardano whales have been active these past few days as they look to add more tokens to their positions, especially with the market currently on a dip and as these investors anticipate the much-awaited price rally from ADA. Further data from IntoTheBlock confirms this, as there has been an over 15% increase in large holders’ net flow over the last seven days. 

Data from the on-chain analytics platform Santiment also shows that Cardano whales have added to their positions. These investors, wallets holding between 100,000 and 10 million ADA tokens, collectively bought 120 million ADA tokens between July 17 and August 1. These wallets now hold over 5.69 billion ADA tokens. 

An increase in whale activity presents a bullish outlook for the Cardano ecosystem. These investors could influence market prices, and these purchases could spark a significant surge in ADA’s price. This will provide a much-needed boost for Cardano, seeing how the crypto token has underperformed since the start of the year. 

Cardano has a year-to-date (YTD) loss of over 35% and is one of the most shorted altcoins, thanks to this unimpressive price action. However, Santiment has suggested that a massive turnaround for the crypto token cannot be ruled out since Cardano being heavily shorted increases the “chances of liquidations leading to pumps.” The on-chain analytics platform claimed these liquidations could act as “rocket fuel” for a price rally for Cardano.

What Will Eventually Spark That ADA Rally?

Cardano has failed to enjoy any significant rally despite several bullish developments in its ecosystem this year. The most recent bullish fundamental was the news that the US Securities and Exchange Commission (SEC) no longer considers ADA a security following the amendment of its complaint against Binance. 

Meanwhile, the Chang Hard Fork is underway as Cardano transitions to the Voltaire era and ushers in its most advanced governance system. It is worth mentioning that ADA’s price maintained a tepid price movement following the release of node validator software, version 9.1.0, which incorporates the Chang Hard Fork.

As such, Cardano’s price action begs the question of what needs to happen for the crypto token to finally witness that much-anticipated price rally and catch up with the rest of the major cap tokens in terms of YTD gains. 

At the time of writing, Cardano is trading at around $0.38, down in the last 24 hours, according to data from CoinMarketCap. 

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Cardano is at a significant milestone with the impending Chang hard fork. This pivotal moment follows the recent upgrade of its node validation software before the upgrade goes live. As the Cardano ecosystem gears up for this major update, the network is experiencing a surge in activity that could determine its trajectory in the coming weeks.

Amidst this heightened activity, Cardano’s cryptocurrency, ADA, has demonstrated an interesting price performance. ADA has seen positive price action in the past 24 hours, reflecting growing market optimism. This uptick in price comes on the heels of increasing transaction volumes, particularly from whales or large ADA holders. According to recent on-chain data, this cohort of traders has significantly ramped up their transactions, with transaction volume recently reaching a peak of 17 billion ADA tokens.

Whales Making Moves

This movement from large holders was noted on IntoTheBlock’s dashboard through a metric which follows the number and volume of transactions greater than $100,000 in a 24-hour period. Interestingly, this metric shows that the number of large transactions has been on a decline since the beginning of the week. However, an activity spike created a trading volume of 17.78 billion ADA on Friday, coming to $7 billion worth of tokens exchanged among whale addresses. 

The increase in activity continues to linger, with 15.43 billion ADA tokens worth $6.28 billion moved among large holders in the past 24 hours. 

While the surge in activity and trading volume could also be large transfers to crypto exchanges for potential selloffs, on-chain data suggests otherwise. Insights from IntoTheBlock’s Large Holders Inflow metric reveal that ADA whales have been rapidly accumulating tokens instead. This metric specifically tracks the influx of ADA tokens into wallets that hold at least 0.1% of the circulating supply, providing a clear picture of large holder behavior. 

The data shows that these wallets have experienced a 579% increase in inflows over the past seven days and a 173% increase over the past 30 days. This significant accumulation has led to a corresponding rise in net flow, which accounts for both the inflow and outflow of tokens from large addresses. Specifically, there has been a staggering 720.62% increase in net flow over the last seven days and an even more dramatic 2580% increase over the past 30 days.

Cardano Recovery Imminent?

These figures suggest that large holders are not only acquiring more ADA but are also retaining their holdings, resulting in a substantial net positive flow. This trend reflects a strong accumulation phase among ADA whales, indicating their growing confidence and long-term commitment to the Cardano network. 

Much of this accumulation can be attributed to the upcoming Cardano hard fork, which will herald the Voltaire era. Voltaire is the last phase of Cardano’s original roadmap in creating a fully decentralized blockchain ecosystem. As the Chang hard fork approaches, the crypto community is closely monitoring these developments, anticipating how they will influence the overall landscape of the Cardano network and its market performance.

Additionally, there are rumors that Cardano might be the next cryptocurrency to secure its own Spot ETFs following the recent approval of Spot Ethereum ETFs. At the time of writing, Cardano is trading at $0.4171, up by 1% in the past 24 hours. The next feasible step is breaking above $0.42. 

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Cardano (ADA) is currently in a pronounced seven-day decline, which was exacerbated by a fresh descent below the $0.41 mark. This decline is part of a broader trend observed across many altcoins, which have reacted negatively to Ethereum’s significant drop in the last 24 hours.

The decline represents a correction from a bullish run that began earlier in the month, during which ADA holders saw good gains. Consequently, this up-and-down movement has created some critical support and resistance levels for ADA, which will be crucial for investors to monitor in the coming days. The market sentiment has shifted considerably, and traders are now focusing on these key levels to gauge whether ADA might rebound or continue its downward trajectory.

Important Price Levels For ADA

At the time of writing, Cardano is trading at $0.3963 and has corrected by 11.6% from a peak of $0.4485 in the past 48 hours. Zooming out on a monthly timeframe shows that the cryptocurrency is merely correcting after a strong bullish run. During this run, ADA surged from $0.3213 to $0.4545 within a week, representing an impressive increase of 41.5%. However, the $0.45 level acted as a significant resistance point, causing ADA to reverse and enter a consolidation phase between $0.45 and $0.40, which was followed by a recent breakdown below the support. 

According to a technical analysis by a crypto analyst, this consolidation movement created a pattern similar to a small bullish flag, and a breakout above $0.45 to the upside could push ADA to $0.6. This suggests that ADA could soon bounce back up on a support level and resume its uptrend. 

On the other hand, analyzing ADA’s price movement suggests a break to the downside could push it to as low as a final key support level at $0.32 and cancel all of the gains it made earlier in the month. However, this is less likely to happen in the short term, as ADA now finds itself hovering around the $0.40 price level. 

What’s Next For Cardano?

According to blockchain analytics firm Santiment, Cardano (ADA) is one of three cryptocurrencies with significantly negative funding rates on major exchanges. However, Santiment suggests that this may not be entirely detrimental. The heavily negative funding rates indicate a high probability of a price boost from the potential liquidation of short positions.

Over the past five weeks, Cardano has been consistently shorted on exchanges. Should these shorts be liquidated by even a minor price increase, it could trigger a substantial price surge. This liquidation could act as a catalyst, propelling ADA’s value on an extended surge above $0.6. A potential catalyst for a price increase could be the highly anticipated Chang Hard Fork upgrade to the Cardano blockchain.

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