Cardano Price Analysis: ADA/USD regathering upside momentum following bottom
|- ADA/USD is set to break out from a narrowing range block, as the bulls regather upside momentum.
- Cardano founder Charles Hoskinson has been speaking highly of the foundation’s progress.
ADA/USD on Monday is seen trading up 2.7% at the time of writing, as the bulls press for a range breakout. The price has been ranging from a high of $0.0340 down to a low of 0.0320, which has been seen since 18 December.
Charles Hoskinson, the Cardano founder was recently speaking within an AMA session, noting that ADA will be the most predominant force in the cryptocurrency space by the end of 2020. He is also expecting it to become a true social operating system.
During his AMA he said:
“We are especially interested in investing resources at IOHK and our partners at EMURGO and the Cardano Foundation are investing a lot of time to make sure that we fully understand. And as we exit 2020 and we go throughout the decade this is something we do continuous research in and the better we get, the better the feedback loop becomes, the faster we can grow and get to those billion users and become a true social operating system that is beneficial to everyone in the world.”
ADA/USD daily chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.