A new push for Cardano towards historic heights? This is the opinion of Michel van de Poppe - one of the most famous analysts in the crypto industry - who, for the next few weeks, is focusing on $ ADA.
An ideal situation for cryptocurrency led by Charles Hoskinson - after the September correction brought it back to very attractive price levels for investors.
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Van de Poppe believes it: "Cardano can go back above $ 3,10.
Cardano, while also awaiting the arrival on its platform of the smart contract, had a big boost before September correction which had affected the entire sector.
However, it has since recovered, settling at the time of writing at a price point above $ 2,2. Still little, however, compared to what he had hinted only a few weeks ago, with the reaching of the threshold close to 3 dollars. A part which now, still according to Van de Poppe, would once again be within reach.
What are we waiting for right now? A grind towards the zone of the historic high against the dollar - for some time, as we have already seen in November 2020. From there a significant acceleration close to the historic high. "
This is Van de Poppe's comment - which he sees in $ 3,10 an important threshold for cryptocurrency, which could also be reached in the short term. The sum is actually very close to what we set with ours Cardano Forecasts, which they see in $ 3,5 the threshold level by the end of the year, following the progress of other cryptocurrencies in the sector, such as for example Bitcoin.
Technical analysis after 1 week: when can acceleration start?
Based on the analysis of Van de Poppe - with which we generally agree (apart from a slight difference in terms of target), let's move on to technical analysis 1 week, to identify if, how and when this progression towards the new could begin all time highs.
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Moving averages improving and - although not unanimous - nonetheless strongly bullish. To this reading it will be necessary to add that of the main indicators for technical analysis.
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Here too, the situation, although far from being unanimous, tells us about the increases expected for the next trading days on ADA. However, we believe that we should also consider the long term Cardano - because it is at this time horizon that we can obtain much more interesting results.
In the long term: staking as "passive income"
With Cardano's forecast showing short and long term rises, the opportunity offered by the staking by eToro - which will provide passive income on $ ADA purchased automatically.
Although we don't know how to use classic staking - it would involve several steps with exchange and other types of intermediaries - for all $ ADA that we will buy via eToro we will receive a monthly sum - fully automatic and secure. For a cryptocurrency that - according to all the world's leading analysts - is currently heavily undervalued, this could be the golden opportunity to have a double return. A cryptocurrency which is also part of our portfolio - a sign that our specialists believe in the enormous potential of this project. Potential that can begin to express itself even in the next few hours.