Cardano Breaks 7-Month Consolidation Range as ADA Decentralized Governance Journey Gets Major Leap
Cardano (ADA) continues to ride on the bullish momentum rocking the crypto market thanks to a weekly surge of 80.4%, according to CoinGecko data.
Cardano has been gridlocked in a range for the past seven months, but this fate recently came to pass, with the ninth-largest cryptocurrency smashing the $0.60 resistance level.
ADA was hovering around $0.5764 at the time of writing, showing its steadfast commitment to holding the psychological threshold of $0.60.
Given that Cardano has been mirroring a historical pattern created 4 years ago, top market analyst Ali Martinez pointed out that the altcoin was destined for greater heights this month.
Therefore, based on the notable leg up, fingers are crossed that ADA will hit the psychological price of $1 during the course of this month.
Cardano Rolls Out New Update
Based on Cardanos quest to enhance its governance and decentralized capabilities, the network recently rolled out the Node 10.11 update, which implements the Chang #2 hard fork.
This move intends to offer ADA holders more power regarding the networks governance. As a result, they will have the opportunity to transfer their voting power to certain Delegated Representatives so that governance can be undertaken independently.
Therefore, this development is a stepping stone toward enhanced decentralized governance in the Cardano blockchain.
Text source: ZyCrypto
