Altcoin ADA price seems to be heading in an ascending channel.
This pump could send the price of ADA from $0.7 range to $0.92 target soon.
Cardano’s ADA remains to be one of the most bullish altcoins this bull cycle.
Alongside Ripple’s XRP, Cardano’s ADA is a top contender for some of the most bullish altcoins this bull cycle. In fact, these two altcoins are both expected to set several new ATH targets in the coming days ahead. Presently, analysts notice that ADA price seems to be heading in an ascending channel that could lead to an upward price swing to $0.92, could this be the start of ADA’s pump to new ATH prices?
ADA Price Heading in an Ascending Channel
Charles Hoskinson’s Cardano blockchain has been growing steadily since the last bull cycle. This steady progress has brought a lot of new functionality onto the blockchain, with the latest Leios Upgrade expected to bring Solana-style speed to the Cardano ecosystem. Long-term ADA holders and Cardano builders are pleased to see Cardano getting the attention it deserves for being the only truly decentralized blockchain network.
This was no easy feat for Cardano and Charles Hoskinson. Over the past few cycles, Cardano and Hoskinson got a lot of hate for the slow and steady approach. But despite the negativity, Hoskinson continued to stick by his principles and build at a steady pace to keep true to the original Cardano roadmap, one that would be inspired by peer-reviewed, heavily-researched progress.
Indeed, this slow and steady approach seems to have finally brought Cardano over a steep hill, where the grass is finally greener for Cardano and all its affiliated partners, users, and holders. Now, Cardano is seen as the greatest blockchain in the space, and ADA holders are hoping to see ADA get more exposure in the coming days ahead, before the peak phase of altseason arrives.
Cardano in an Upswing to Hit $0.92 Next
For instance, Cardano Spot ETFs are in the midst of being approved. This will bring more value into the ADA price pool, meaning new and much higher ATH targets may arrive soon. Specifically, ADA will be the centre of all Cardano and Hoskinson-related projects, and the launch of the Midnight privacy sidechain’s ‘Glacier Drop’ airdrop is another monumental event that will bring more users to the ADA community.
Presently, according to CoinMarketCap analytics, the price of ADA sits at $0.7286, boasting a total market cap of $25,738,570,541, and a 24-hour trading volume of $1,147,204,583.02. The altcoin is currently over 75% away for its previous ATH price of $3.10, a price that was hit when the Cardano blockchain was still far behind. This leads analysts and traders to believe that now, with a much more capable Cardano blockchain, the price of ADA should soar to much higher prices.
https://twitter.com/ali_charts/status/1924069958780362991
Presently, one analyst notices a bullish sign on the ADA price chart. As we can see from the post above, this analyst says that based on the current structure in the ADA price chart, the native asset of Cardano is heading into an ascending channel and is holding above $0.72. This is a bullish sign that could pave the way for ADA to pump into an upswing surge and hit a higher target of $0.92 soon.
