Cardano’s much-awaited Alonzo hard fork upgrade was successfully launched on 12th September 2021. It seems the price didn’t bounce due to the general bearishness in the market. Despite Cardano’s pullback, popular analyst Van De Poppe believes Cardano price will go for $20.
Cardano received mixed reviews from the crypto market. According to a few, the platform has the strong potential to challenge more established chains like Ethereum, Solana and Matic in the DeFi ecosystem with its Smart contracts. The network could take its time and may bounce back very soon.
Interestingly, over 100 smart contracts already running on the network. The ADA blockchain utilizes significantly less energy compared to other prominent blockchain networks. According to the reports, Cardano has developed a project catalyst. This catalyst indirectly supports Cardano’s blockchain by incentivizing the development of creative projects. And catalyst has already funded over 100 projects worth over $1.5 billion.
This Is When ADA Price Will Hit $20?
Authentic Crypto data provider Coin98 Analytics has shown confidence in Cardano’s upcoming updates. They expect the ADA ecosystem to become an empire of the DeFi world in the future. Cardano is now making headlines since the launch of Alonzo, as the altcoin prepares to roll out sophisticated upgrades including NFT/gaming, wallets, Payment, Lending and borrowing.
On the other hand, the Bollinger band continues to squeeze as the upper band and the lower band are converging. This convergence indicates a massive leg in the upcoming trading sessions. However, the Cardano price could skyrocket to new milestones or plunge below the average $2.4 levels.
Bollinger bands identify the volatility of the market to determine entry and exit points for the crypto trade. However, the Cardano price is currently trading at $2.39. As Bollinger bands are converging breakout or breakdown is expected anytime soon.