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Be Prepared for Cardano To Pump when it Breaks $0.1

According to the cardano.org website Cardano (Symbol: ADA) is a decentralized public blockchain and cryptocurrency project and is fully open source. Cardano is developing a smart contract platform which seeks to deliver more advanced features than any protocol previously developed. It is the first blockchain platform to evolve out of a scientific philosophy and a research-first driven approach.

Cardano ranks #11 in term of market capitalization as per June 15th 2019 according to coinmarketcap.com.

There is not so much of trading history on Cardano so that we won’t bother our readers with too much charting sophistication. There could not be a simpler technical set-up than shown on the monthly price chart.

ADA/USD Monthly Price Chart (via Kraken)

ADA/USD bottomed at 0.256 in Dec 2019 meaning that it has almost quadrupled in price. The trend has reverted to the upside (7-period moving average turning higher) and price is stalling below the 0.1 level. When it breaks it should unleash the beast for another price doubling at least or possibly for a massive pump to new highs.

Disclosure: We are long ADAUSD.

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