Cardano (ADA) Shows Bullish Signs with Resistance Turned Support
Cardano (ADA) has broken past a key resistance level, potentially setting the stage for an upward climb.
The price of ADA has moved above the $0.43 mark, which was previously a point of resistance. This could signal a trend reversal and the start of an upward move. The broader crypto market is experiencing a bullish phase, which is also contributing to this positive sentiment.
- The impending launch of Ethereum ETFs on July 23rd is expected to further boost the market.
- Cardano’s upcoming Chang Hard Fork, scheduled for mid-July, is another factor driving bullish sentiment.
- The hard fork aims to decentralize governance and reshape Cardano’s ownership structure.
- Historical data suggests that network upgrades can significantly impact Cardano’s price.
- The founder of Cardano, Charles Hoskinson, has confirmed that the upgraded node 9.0, required for the hard fork, is on track for next week.
These developments suggest that Cardano could be poised for a strong run. However, it’s important to note that the crypto market is volatile, and investors should proceed with caution.
It is also important to conduct your own research before making any investment decisions.
**Links:**
* [Cardano Website](https://www.cardano.org/)
* [ADA on CoinMarketCap](https://coinmarketcap.com/currencies/cardano/)
