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Cardano Engulfed In A Bullish Wave While Bitcoin And Most Top Altcoins Bleed

zycrypto

20d ago

For much of the weekend, the market has been trading sideways. A majority of coins led by Bitcoin have for the last few days failed to break above key resistance points. As a result, the tussle between the bulls and the bears has seen the market stall.

There have however been some exceptions. Cardano has posted positive results during the weekend and again at the start of the new week. In what has been largely a bearish market, Cardano has climbed by more than 3% in the last 24 hours.

The bulls have been able to climb as high as $0.046 but are unable to break above the $0.047 resistance. But, the gains remain insignificant compared to the assets all-year high of $0.10.

Unable to hit the halfway mark of $0.050 in recent weeks, Cardano is still a long way from full-blown bullish status. However, by beating the odds in the last few days, signals good times ahead for the project. As we reported, Charles Hoskinson has been keen to point out this.

Last week, Hoskinson pointed out that Cardano was going through some impressive developments. He further predicted that Cardano would be “a beast” in 2020. This take was further supported by Weiss Ratings who proclaimed Cardano to be clearly superior to EOS.

Cardano’s current bullish momentum looks unsustainable with other coins likely to pull it down. This, if other coins do not begin rallying in the coming days, will see Cardano slip. If the bearish pressure continues, Cardano holders can expect a minor pullback that sees it settle around $0.043.

A full-blown bullish wave for Cardano looks likely if the altseason makes a comeback which could see the coin reach its year high of $0.1.

Come 2020, Hoskinson said it straight, we could see Cardano become “a beast” which presumably means that we could see ADA reach or even surpass its current all-time high. The development of the project has reached its final stages and a fully implemented Cardano promises to be of no match to its competition.

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