Cardano (ADA) is a promising cryptocurrency, that’s obvious, but, lately, ADA seems stuck. However, while many crypto enthusiasts still expect ADA to surge, does Cardano (ADA) have enough “fuel” to skyrocket by the end of the year?
First, the cryptocurrencies market is known for its surprising turnovers so that anything could happen with every cryptocurrency in the market. And that’s precisely why many see the crypto industry risky but highly rewarding at the same time.
However, some investors try to lower the risks of investing in cryptos by putting their money on third-generation cryptocurrencies, such as Cardano (ADA) which comes with a newer blockchain technology in comparison with first and second generation cryptos, such as Bitcoin (BTC) and Ethereum (ETH).
Cardano (ADA) price analysis
At the time of this article, Cardano (ADA) trades at $0.083, increasing by 4.50% in the last 24 hours.
Besides, ADA, which is still the ninth cryptocurrency in the market with a market cap of $2,154,096,104, has also recorded a trading volume in the last 24 hours of $130,076,928.
Does Cardano (ADA) have enough “fuel” to skyrocket by the end of the year?
In the last few days, Cardano (ADA) was a top gainer in the cryptocurrencies market but, in the previous seven days, ADA dropped by 2.7%. However, Cardano enthusiasts are hoping the bullish pressure will keep on positively influencing ADA during the weekend.
On the other hand, the Cardano (ADA) weekly chart hints that ADA is going to bottom, so buyers are waiting. Besides, there is a considerably bullish recovery pattern in the graph which is excellent news for the community.
Even though Cardano (ADA) dropped by 95% this year, the Cardano blockchain and platform is extraordinary in comparison to other crypto-underlying technologies.
The only method to push Cardano (ADA) towards a surge would be the release of some commendable projects by the end of 2018.