Cardano (ADA) is preparing for a major rally to $4 – Here’s why
Popular trader Tom Busby from CryptoBusy says that Cardano (ADA) is gearing up for a major rally in which it is expected to explode to $4.
1. Daedalus update
As the trader says, Input Output Hong Kong (IOHK), the blockchain development firm that created Cardano is now supporting the next Cardano maintenance upgrade:
“Developers are working on the Daedalus v.4.4.0 release. It would include integrations with the Cardano node and wallet and a facility to unpair a hardware wallet.”
2. Adanian Labs partnership
The second price catalyst is the newly-announced partnership of Emurgo, the investment arm of Cardano, and Adanian Labs, a pan-African venture studio that is focused on building a platform where African tech start-ups can thrive and access all key resources that allow them to grow sustainably.
“This partnership would bring financial and educational empowerment via Cardano’s blockchain platform to the billions who lack these opportunities. It is definitely a good approach to increase wide-adoption towards Cardano,”
Busby also highlights that the partnership will help provide the Cardano with a great framework to launch in Africa.
3. Oasis Pro partnership
It is inevitable that Cardano’s recent partnerships are focused on increasing financial accessibility in developing countries. Recently, Cardano, again, made a prestigious partnership with Oasis Pro to support governments in pooling inward remittances to fund large infrastructure projects.
“Cardano’s partnerships are likely to boost the utility of ADA tokens and increase the real-world use-cases for the altcoin.”
Busby emphasizes his bullish stances on Cardano and highlights that numerous top analysts are having the same prediction. In particular, Dogecoin millionaire Glauber Contessoto admitted that he has invested in ADA and predicts a breakout in ADA price at the end of 2021.
Besides, Nigel Green, the CEO of deVere Group, who accurately predicted ADA price to hit $3 in September 2021, is also bullish on ADA and has set a target of $4 for the end of the year.
Regarding Busby’s analysis, he says that while ADA has been trapped in some sort of rangebound that has not been resolved since the lows seen during September 21 at $1.90, the coin is retesting on this level of demand and going to see a break out at $2.25 range.
“We’ve been moving in and around this range for a while now and it looks like we’re gonna see a huge breakout. We have retested on this level of demand here which is a great sign that we’re gonna start pushing up from here and once we can break above that kind of 2.25 range, we can see a huge breakout to 2.70 and even 3 dollars once again,”
“I would say this is looking very promising. You know the fact we’ve been in this range for a while now, the fact that we’re seeing the general market sentiment goes up, it seems to me that Cardano is primed for a great move to the upside and I would say as my first target 2.70 is looking very good.”