Which direction the Cardano (ADA) price will go by best crypto signals

Frank Parker
Authored by Frank Parker
Posted Wednesday, October 13, 2021 - 4:40am

With the Cardano Alonzo hard fork about to begin, the most anticipated event of the year is about to take place. It is believed that the emergence of smart contracts on the Cardano network will have a major impact on the market. If it lives up to expectations with best crypto signals, it is likely to have a sensational impact on the cryptocurrency ecosystem. However, this raises the question to what extent this will affect its competition with Ethereum and how investors will react.

Cardano, Ethereum and the future of smart contracts.

Alonzo's hard fork, which will take place today (September 12, 2021), is delighting both investors and developers. However, during the test network, users have observed some suspicious concurrency issues.

  • Here, one of the key advantages of ADA is that the network is currently capable of handling over 15 TPS Ethereum (currently 250 TPS).
  • However, the transaction fees (gas charges) on the network are quite low.
  • Ethereum's high transaction fees are undoubtedly a major factor that will help Cardano grow.

The launch of smart contracts may be the right time for Cardano, especially as NFTs are taking over the market. In the following days, Ethereum or NFT on the network for the network is faster and cheaper, they will usually be considered by Cardano - opinion of analyst from SafeTrading.

How will this affect the ADA price?

Currently, the ADA appears to be growing in anticipation of the Alonzo update with the new best crypto signals - see https://safetrading.today. Buy deals exceeded market expectations and sell orders totaled 12 million ADA (about $ 29 million). These upward price movements in Cardano occurred despite the market decline. If Cardano grows with the launch of Alonzo, already profitable ADA investors are likely to see even higher returns. To do this, Cardano needs to maintain a strong correlation with Bitcoin as it currently is. At the same time, the ADA should keep volatility as low as possible below the current 109%.

Chainlink Technical Analysis: New Target Barrier at $30

Chainlink (LINK) price is trading with an optimistic outlook. The coin was recently declined and withdrawn up to $ 26 and maintains this support. Thus, analysts of SafeTrading expect LINK to test the $ 30 level with a sharp rise in the next 24 hours. In general, the cryptocurrency market is in the green zone.

Chainlink short term price prediction: LINK

The LINK / USD price is currently trading in a narrow range from $26.25 to $27.71. Total trading volume fell 39.18 percent to $1.1 billion. On the other hand, the total market capitalization of the cryptocurrency is $12.21 billion. With this market capitalization, it is ranked 15th in the coin rankings.

  • Chainlink price is trying to rise above the $ 28 zone on the 4-hour chart. If this succeeds, it could generate support in the region. The $30 level is a high resistance zone that keeps LINK / USD from retesting the bounce ahead of the top.
  • Chain link prices have fluctuated wildly over the past few weeks. The rally, which kicked off with $25 backing, raised the cryptocurrency to $36 in the early days of September. Thus, LINK's price has returned sharply.
  • However, over the next 24 hours, LINK made a slight “higher low”, dipping to the main support zone of $25. After a short test of $25, further declines were blocked.

Chainlink price is optimistic today. Because it is trying to make up for Friday's bloody losses and consolidate. Therefore, LINK / USD is expected to overcome the $ 30 resistance in the next 24 hours.

How much Cardano (ADA) will grow after updating the Alonzo hard fork

Cardano (ADA) was on the rise, on Saturday, September 11, the Cardano ADA token is the highest percentage gain among the top 10 crypto assets, increasing nearly 14% in the last 24 hours, ranking only third in the cryptocurrency market. The capitalization chart helped to further strengthen its position.

Currently (as of September 12), ADA is trading at around $2.7488 on the Kraken crypto exchange, up 13.71% in the last 24 hours, according to data provided by SafeTrading. And this makes the investor smile.

As for why ADA performed so well on the day that Bitcoin and Ethereum fell 0.33%, the most plausible explanation is that the September 12 activation of the Alonzo hard fork on Cardano is still attractive to many investors and analysts. It shouldn't be like "buy the rumors, sell the news," and this showdown shows that the best days of the ADA are yet to come.

One prominent cryptanalyst who seems to believe this is Michael van de Poppe, who said earlier today that he thinks the ADA price could reach $5.

Tim Harrison, director of marketing and communications for IOHK, the blockchain technology company behind Cardano, pointed to the infographic below, which paints a beautiful picture of Cardano's rich and diverse ecosystem, and said it would be quite interesting to see more of the next “few months''. And talked about the benefits of launching more projects supported by Cardano on the mainnet.

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