Bullish Sentiment for Cardano
Multiple traders have noted that Cardano is preparing for a solid bullish rally, with a falling wedge pattern coming to its end—a trading pattern that often finishes with a breakout to the upside.
In addition to this, we have the Chang Hardfork this year, along with a recent partnership between the Cardano Foundation and an Argentine province.
Finally, there’s also the upgrade for Cardano’s Plutus smart contracting language that, among other things, will increase its capabilities and significantly improve blockchain interoperability with Cardano.
Conclusion
Cardano’s position as a top ten cryptocurrency has been challenged this year as its superior technological approach has been shunned in favor of VC-backed layer 1 and layer 2s and memecoin.
However, a slew of news in the middle of 2024 has many community members and commentators turning from bearish to bullish on Cardano.
