Cardano ADA/USD pair has just increased before the Shelley upgrade scheduled for June 30, preparing to lift off even further than $0.10. In our latest ADA price news, we can see that the new Shelley upgrade will make Cardano more decentralized and will also introduce smart contract opportunities.
Over the past 24 hours, Cardano ADA/USD pair advanced by over 5% so ADA remained the tenth largest cryptocurrency on the market. after the $0.09 rejection earlier in June, ADA/USD dropped to $0.0700 support so huge support protected the area later, stopping further losses from progressing further. The recovery ensued but slowly after the drop as ADA reached levels of $0.0800 and $0.0850. Cardano is trading at $0.0853 during the developing bullish momentum. The much-awaited Shelley upgrade will commence on June 30 according to the announcement by the co-founder Charles Hoskinson. Cardano was seen as a dead project for a long time as they never made an upgrade. However, the IOHK team had been creating an improved blockchain platform.
Shelley will see Cardano making a huge entrance into the smart contracts industry which will allow it to compete with major platforms such as EOS and Ethereum. Cardano is also primed to become much more decentralized which makes it a true community project. Investors will be able from August to help secure the network by staking their ADA tokens. They will also earn rewards which will boost the price of ADA even more. Cardano’s ADA is expected to rise above $0.10 with the latest Shelley upgrade.
The pair is trading above the increased trendline as the price remains in the hands of the bulls between 50 SMA and 200 SMA in the daily range. Indicators such as RSI and MACD pointed in a sideways action taking over. If another decline is to come into the picture, the ADA/USD pair will seek shelter at the $0.0700 level on the main trendline formed by the confluence of the MACD and the 50-day SMA.
As per the recent reports, at the peak of the 2018 bubble, the altcoin was trading above $1 – something which also coincided with a market cap of over $30 billion. At the time, Cardano and its market cap were the sizes of a mid-large-cap company. Things are again chainging for ADA and Cardano will become one of the largest cryptos if its current trend sustains and strengthens in the near future.