When the Bitcoin momentum sours a bit, one has to wonder if the alternative markets will see bearish or bullish pressure. During the weekend, the momentum can easily swing either way for altcoins, tokens, or assets. As far as the Cardano price is concerned, there is still a lot of initial promise. Its most recent gains are also interesting to take note of at this time.
Cardano Price Momentum Continues
Traders who have kept a close eye on the altcoin markets in recent weeks may have noted some interesting trends are taking shape. While Cardano is not known for its major pump cycles or steep gains out of the blue, the market seems to be moving up slowly and surely. Even today, this is one of the few top 10 markets in the green, which further confirms the demand for ADA is not drying up just yet.
To put this in perspective, the Cardano price has gained another 4.3% in both USD and BTC alike. This brings the value to $0.061958 or 1,543 Satoshi. A lot of traders and speculators will be quite happy with this trend, although it is merely a continuation of what has been taking place nearly all week long. Combined with $127.22m in trading volume, it is evident there may be some further gains on the horizon for ADA. However, that will only happen if Bitcoin doesn’t lose more value than it already has.
One particular and peculiar trend in the Cardano ecosystem is how Charles Hoskinson likes to do many surprise AMAs through social media and YouTube. This most recent addition seemingly got a lot of valuable feedback once again, although some users have indicated they would like to see fewer videos and more actual work being done. As the Shelly release is just around the corner, it seems this surprise AMA came at the right time.
It's that time again https://t.co/BL2swJdlGE
— Charles Hoskinson (@IOHK_Charles) March 24, 2019
It would also appear a lot of traders are at a point where taking profit becomes rather straightforward. Wallstreet Income confirms they noted 219.2% profit with Cardano so far. Although pump signal groups should never be trusted or paid for by any means, it is a clear indication Cardano checks a lot of right boxes for traders and speculators alike. How high this price can go from this point onward, is very difficult to predict.
https://twitter.com/wallstreetincom/status/1109795332408270849
It would also appear some people are getting better at predicting the Cardano value movements. While one always should conduct their own research and not blindly follow any price chart, it would appear one of these charts is bang on the money, for a change. He accurately predicted most market movements to a T, although there were some minor hiccups as well. That particular chart seems to indicate there is room for further gains, albeit not too many.
https://twitter.com/CryptoNerdsio/status/1109780184545267712
For the time being, there is nothing to overly concerned about when it comes to the current Cardano value. While there is room for some further gains, it seems there could be a fair bit of bearish pressure looming ahead as well. As long as ADA remains above $0.061, most traders and holders will be quite pleased with how things are going as of right now. Even so, a massive Bitcoin collapse- which plenty of traders still expect – could easily send this market in a downward spiral as well.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.
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