The mood at Cardano is great-now all you have to do is go along with the AdA course
- The mood at Cardano is almost not in four months, according to reports that the US stock exchange supervision SEC could use the blockchain for government services.
- An analyst assumes that ADA reaches $ 3 if it holds its position between $ 0.73 and $ 0.74.
Cardano is one of the few old coins that are still on the list of assets that could be included in the national crypto financial reserve. As CNF reported, this confirmation has made great confidence in Cardano because the course jumped up by 53%.
According to our market data, ADA has fallen from $ 1.1 to $ 0.71 since then, after it has fallen by 2.5 % in the last seven days, 10 % in the last 30 days, in the last 90 days by 26 % and 22 % in the previous course. Conversely, the 24-hour trading volume has risen to $ 675 million.
Data from the Santiment market intelligence platform show Also that the mood around the asset improves, since more than “3.5 positive comments on a negative comment” were recorded on ADA.
According to reports, the mood in the community is as high as it has not been in four months. Certain old coins such as Cardano have a high positive mood on social media. Supported by the fact that the SEC has classified $ Ada’s application as a “smart contracts for government services”, the community of the old coin has reached the highest mood value for over 4 months.
Apart from the hype about the crypto reserves, the social activities of ADA reported reported by the recent disclosure of the US Securities and Exchange Commission (SEC) in relation to the use of certain blockchains in the US government. Based on the publication, Cardano has a better chance to act as a Smart Contract network for government services.
As confirmed in our latest blog post, Cardano co-founder Charles Hoskinson also met with Japan’s former digital minister to discuss topics that range from digital transformation to zero-knowledge cryptography.
Cardano course analysis
Against this background, Analyst Ali Martinez announced that AdA is in the process of breaking out of an interest bullish pattern. In his opinion, confirmation of this technical pattern could lead to a strong upward movement. Fascinatingly, this pattern is said to have developed for months. If this constellation does not confirm, the value of the current level could fall to $ 0.58.
Another analyst, Dan Gambardello, has joined the discussion about the Cardano Prize and explains that the ADA price is in the war after its observation, the asset is currently struggling to keep the gliding 200-week average that is set between $ 0.73 and $ 0.74. A decisive increase in this range could be crucial for the expected interest bully trend reversal, since our latest analysis shows that ADA could reach the $ 3 brand.
Gambardello assumes that the value is currently moving within the 50 weekly MA and the 20 Week-MA. However, ADA could carry out another downward movement on the price curve if the Federal Reserve disappointed its interest reduction expectations:
“If the market does not get what it awaits from the Fed at short notice, we can easily see that the volatility of the cryptocurrency goes further down.”
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