Cardano (ADA) Getting Ready For A $3 Retest?

At this point, there is not a crypto investor that has not heard of Cardano. The network is famed for being the number 1 competitor to Ethereum, seeing that one of its co-founders had created Cardano after exiting the project. Its growth has been tremendous in the past month alone. Giving returns of over 100% in the space of a single month alone. Related Reading | Crypto Analyst Lays Out Cardano’s (ADA) Pathway To $4 Cardano’s native token ADA has already broken its previous all-time highs, while most of the market is still trying to get back up to its high points in April/May. This has provided the project much-needed notoriety as the race towards smart contracts capability continues. If all goes as planned, the Alonzo Purple Hard Fork will launch on September 12th, bringing DeFi and NFTs to the ecosystem. Cardano (ADA) Running Towards $3 Crypto analyst Benjamin Cowen also puts the price at $3 if the Bitcoin can stay above the 20-week SMA (simple moving average). Citing the price of Bitcoin as an important driver for the asset. BTC has maintained trading over its 100-day moving average, putting above the 20-week SMA. If Cowen is right, then ADA is set for another bull rally. ADA price sets sights on $3 | Source: ADAUSD on TradingView.com ADA has also maintained trade levels above the 100-day simple moving average. The average transaction volume currently sits at $121 million. With the market cap at $89 billion at a ...