Cardano (ADA) has been in a downtrend since March, forming lower highs and lower lows. Amidst broader market corrections in August, it also lost its position in the top 10 cryptocurrencies by market cap.
At press time, ADA was trading at $0.361 — the last 30 days have seen prices increase by 2.55%, bringing year-to-date (YTD) losses down to 39.09%.
ADA price YTD chart. Source: Finbold
While it hasn’t been a good year for the token thus far, there are some promising developments — Cardano’s smart contract capabilities have skyrocketed this year — going from just 8,083 Plutus scripts to 91,470 at the time of writing.
Cardano smart contracts. Source: Cardano Blockchain Insights
Sure, that is a good sign — but it’s unlikely to have an effect on price action in the near term. But recently published technical analysis points to the possibility that ADA could in fact see a swing to the upside soon.
Does this ADA Cup and Handle mark the beginning of a rally?
Starting
We współpracy z: https://finbold.com/cardano-ada-cup-and-handle-pattern-forming-rally-imminent/
