A popular crypto analyst and trader claim that Cardano (ADA) is expected to rally after the upcoming Vasil hard fork upgrade is completed.
Analyst Benjamin Cowen informed his 767,000 followers on YouTube that ADA could reach $0.60, although Cardano (ADA), a smart contract platform, is currently struggling for a bullish run.
He goes on to say that if Cardano (ADA) manages to push the price between $0.52 and $0.60, that will be a major milestone for ADA. This is because right now the world’s first cryptocurrency, Bitcoin along with other cryptocurrencies is stuck in bear control while the dollar is surging.
After such extremely bullish predictions for Cardano, Benjamin claims that he is watching ADA/ETH price action closely.
Furthermore, the strategist asserts that if he plans to purchase any altcoin such as ADA, then he should perceive that the purchased altcoin should outperform Bitcoin and Ethereum. He also quotes that if ADA/ETH is below the said range, then he will be more positive that the altcoin will outpace the first two cryptocurrencies.
Furthermore, Cowen believes that the upcoming merger of Ethereum, which replaces the current Proof-of-Work (PoW) with Proof-of-Stake (PoS), will also be a positive event for ADA price action. .
He says that the ETH merger might push ADA towards $0.60, so it’s important to watch ADA price near $0.50 and $0.60 area which will be a significant resistance range.
At the time of reporting, Cardano is trading at $0.509 after an increase of 3.29% over the past 24 hours.
