{"id":1144,"date":"2021-08-10T15:08:00","date_gmt":"2021-08-10T19:08:00","guid":{"rendered":"https:\/\/www.hodlin.com\/blog\/?p=1144"},"modified":"2021-08-10T13:53:55","modified_gmt":"2021-08-10T17:53:55","slug":"cardano-price-analysis-for-august","status":"publish","type":"post","link":"https:\/\/www.hodlin.com\/blog\/cardano-price-analysis-for-august","title":{"rendered":"Cardano Price Analysis Shows 12% Gains As ADA Buyers Dig Deep Ahead Of Smart Contract Activation"},"content":{"rendered":"\n
\"Cardano
Cardano Price Analysis For August ADA Smart Contract Launch<\/figcaption><\/figure>\n\n\n\n

The Cardano price<\/a> hasn’t been a “stablecoin” by any account.<\/p>\n\n\n\n

When writing, ADA prices are up five percent against the greenback building on last week’s stellar gains.<\/p>\n\n\n\n

If anything, the coin is up double digits, adding 12 percent to be one of the top performers in the top-10<\/a>.<\/p>\n\n\n\n

Traders are optimistic of what lies ahead, with most maintaining that gains of the last three weeks are nothing but a primer of what lies ahead.<\/p>\n\n\n\n

Cardano Market Overview<\/h2>\n\n\n\n

ADA\/USDT technical candlestick arrangement suggests strength–spilling out from the solid gains end of July 2021.<\/p>\n\n\n\n

As it is, there are higher highs in the daily and weekly charts. Nonetheless, a mark of the strength of the present trend could be the rejection of lower prices on Aug 9 and the concurrent rise in trading volume.<\/p>\n\n\n\n

There is a direct correlation between momentum and volatility and the level of underlying activity. The more traders dig in, accumulating in a specific direction, the higher the volatility and thrust.<\/p>\n\n\n\n

Reading from the price action of the Cardano daily chart, the odds of bulls breaking above July 2021 highs and $1.5 are high.<\/p>\n\n\n\n

If it does happen, it would be a monumental moment for Cardano buyers, a solid foundation for a climb back to 2021 highs of around $2.5.<\/p>\n\n\n\n

Cardano Market Movers<\/h2>\n\n\n\n

The platform aims to compete with Ethereum<\/a>. Although it is one of the most valuable projects in the sphere, it remains under development.<\/p>\n\n\n\n

Cardano supporters cite the project’s originality, its inclination for quality over quantity, peer-reviewed code, and milestones reached over the years.<\/p>\n\n\n\n

Cardano is one of the most decentralized Proof-of-Stake platforms with over 1,000 staking pools. In the next month, it shall activate Goguen and smart contracting.<\/p>\n\n\n\n

The Alonzo Purple test network is presently onboarding users.<\/p>\n\n\n\n

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ALONZO UPDATE: We\u2019re delighted to announce that we have now successfully spun up #AlonzoPurple<\/a> and have today begun the new user onboarding process\ud83d\udc4d \ud83d\udcaa
1\/12$ADA<\/a> #Cardano<\/a> @CardanoStiftung<\/a> @Cardano<\/a> @emurgo_io<\/a> @IOHK_Charles<\/a><\/p>— Input Output (@InputOutputHK) August 6, 2021<\/a><\/blockquote>