Cardano (ADA) To Surge By 100% After Shelley Update, Says Recent Analysis
Cardano (ADA) has been making headlines for a really long time, and it’s mostly due to the much-awaited upgrade – Shelley.
The anticipation that’s been surrounding the upgrade and the generally positive sentiment that’s present in the market allowed the price of ADA to surge by over 105% since the beginning of the year.
Smaratereum notes that according to the latest predictions, on CCN Markets, the crypto will continue to surge by more than 100% after the update takes place.
Charles Hoskinson tells people to prepare for the upgrade
You may recall that a few months ago, the co-founder of Cardano blockchain, Charles Hoskinson, was saying that the blockchain will become 100 times more decentralized than Bitcoin after the Shelley gets activated.
He was pointing out to the fact that this and many other benefits will drive the mass adoption of ADA and prepare the scene for it to take over Ethereum.
Cardano price predictions
The same online publication notes that the bullish ADA price prediction is supported by technical indicators all the way.
Smaretreum writes that “there is an inverse head and shoulder pattern that is visible on the daily and weekly chart. This trend has been visible for more than ten months giving Cardano ADA the perfect opportunity to build a base. The fact that it has taken this long to build a base proves that the prediction is most likely going to come true.”
They continue and explain that “This is because there is a high possibility of a breakout occurring and it’s going to be a strong break out that may double or even triple the current price of ADA.”
At the moment, ADA is trading in the red on CMC and the coin is priced at $0.088657.
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Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.