Cardano haters recoil in fear as the smart contract protocol vows revenge.  Covered: ADA Rises Up Cardano Technical Analysis: What The Charts Are Saying ADA Rises After Tepid Recent Performance Recent rumors of Cardano’s demise appear to have been exaggerated. Cardano (ticker symbol: ADA) is up over 10% today trading in the $2.30 USD range. […] The post Is ADA Back From The Dead? The Latest Cardano Technical Analysis Seems To Think So appeared first on CryptosRus.

Is ADA Back From The Dead? The Latest Cardano Technical Analysis Seems To Think So

Cardano haters recoil in fear as the smart contract protocol vows revenge. 

Covered:

  • ADA Rises Up
  • Cardano Technical Analysis: What The Charts Are Saying

ADA Rises After Tepid Recent Performance

Cardano right now.

Recent rumors of Cardano’s demise appear to have been exaggerated. Cardano (ticker symbol: ADA) is up over 10% today trading in the $2.30 USD range. Today’s strong performance follows yesterday’s 5% uptick for the smart contract protocol.

Much has been made over Cardano’s recent struggles. For whatever reason, the protocol still gets the scam tag thrown at it libelously. Even after very public posterizations like the one Polymarket experienced at the hands Cardano’s founder and CEO Charles Hoskinson.

Recommended: Cardano Summit – Did it Shut Up The Critics?

The reason is: the goalposts keep moving. After Cardano successfully launched Alonzo  “Wen smart contracts” got replaced by “Wen concurrency.” Truthfully, the DEXs building on Cardano did struggle with concurrency, which is a fundamental part of DeFi. But, that appears to be changing.

One of Cardano’s Dex’s, SundaeSwap, recently announced that they’ve processed their first transaction. At press time, it’s unclear what “Wen concurrency” will be replaced with.

Cardano Technical Analysis: What The Charts Are Saying?

The charts are getting a lot kinder to Cardano. Especially now that all of the death cross chatter is out of the way.

Ryan Jones points out that Cardano appears to be breaking out of a wedge. I’m told this is a good thing.

CorazonADA points out the similarities between Cardano’s recent price breakouts, and what the charts are setting up now. Looks pretty eerily similar to ADA’s prior breakouts.

And, not to mention, Dan Gambardello (AKA Crypto Capital Venture) posted this beaut on  Twitter. 

Cardano Chart. Credit: Crypto Capital Venture

To be honest: I have no idea what’s going on this chart, and I’m not about to Beautiful Mind it either. “If Cardano can break this current resistance up to $2.12, the $ADA bulls will be unleashed,” Gambardello explained. I’ll take your word for it.

As for price predictions, one thing is for sure: I wouldn’t listen to this guy…

The post Is ADA Back From The Dead? The Latest Cardano Technical Analysis Seems To Think So appeared first on CryptosRus.