- ADA/USD is currently trading at $0.133 after resuming its bullish activity towards $0.138.
- Cardano is in a robust daily uptrend and will very likely break the last high.
Cardano formed a 2020-high on July 8 at $0.138 after quite an extended bull rally already. ADA/USD is one of the few coins to not only recover from the crash on March 12 but climb higher. ADA peaked at $0.072 back on February 13 and dropped as low as $0.018 on March 13. That means that Cardano has experienced a 600% + price increase from its 2020-low.
Cardano is getting boosted thanks to Shelley’s Mainnet launch
After Cardano revealed the roadmap for 2020 and the announcement of Shelley, Cardano bulls started boosting ADA’s price. The Cardano ecosystem will basically transform itself into a distributed system.
Cardano is currently ranked 6th by market capitalization and it’s slowly catching up to Bitcoin Cash. The 2020-high at $0.133 is also a two-year high because the last time Cardano was trading at around that price was August 2018. The increase in trading volume has also been notable during the past few months. Right now, ADA is facing very little resistance towards $0.15 even though selling pressure is mounting.
ADA/USD daily chart
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