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Cardano (ADA) Pumps Ahead of Smart Contract Announcement, Messi in The Money

Cardano (ADA) Pumps Ahead of Smart Contract Announcement, Messi in The Money

Nick Cawley, Strategist

Cardano (ADA) Price, Chart, and Analysis

  • Cardano eyes $2 as hard fork nears.
  • PSG tokens showing double-digit gains.

Cardano (ADA) continues to push back towards $2 this week, with gains powered by expectations that the company will today announce when the Alonzo hard fork will occur and when smart contracts will start to run on the blockchain. Cardano is a proof-of-stake blockchain platform founded in 2017 by Charles Hoskinson, one of the co-founders of the Ethereum network. Cardano is seen by many market participants as a competitor to the smart contract capabilities of Ethereum, the second-largest cryptocurrency by market cap.

The daily Cardano chart shows this week’s sharp rally with $2 now back in sight. Above here there is little in the way of technical resistance until the May 16 all-time high around $2.40 comes into focus.

Cardano (ADA) Pumps Ahead of Smart Contract Announcement, Messi in The Money

Via CoinMarketCap.

Argentina football legend Lionel Messi, who recently penned a two-year contract with French football giant Paris St Germain, and holders of the PSG Fan Tokens, will be in good spirit today as the token pops 11% higher on a daily basis. It was revealed recently that a ‘large number’ of PSG tokens were included in Messi’s contract with the French club.

Football Legend Lionel Messi Embraces Cryptocurrencies with PSG Fan Tokens

Cardano (ADA) Pumps Ahead of Smart Contract Announcement, Messi in The Money

via CoinMarketCap.

What is your view on Cardano – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author via Twitter @nickcawley1.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.