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Blockchain Weekly - Issue No. 11


BlockHash Research

May 10 · Issue #11 · View online

Covering the latest topics that move the market, chart signals that you should watch, the best low cap crypto projects and much more!

I want to cover Cardano this week and it’s recent breakout to the upside. There isn’t a whole lot of news to drive it upward, other than it’s continued pursuits into the fields of education, agriculture, government, finance and healthcare. The team has always been clear about their expansion plans with Cardano’s mainnet and they are executing on those fronts. That’s why the price is acting accordingly.
My original target for Cardano was around $2.00 by mid-April, so my prediction was a little delayed, but none-the-less, it’s about to hit it’s mark.
So let’s look at the ADA price more closely:

Cardano (ADA)
Bullish Prediction:
There’s something I want to point out that might make you all excited. And that is the completion of the consolidation phase and the potential for a major breakout at the moment. There was strong support at the $1.50 level and it tested this region many times, finally breaking through. Given the obvious, it looks like Cardano is taking it’s next price leg up and will head closer to $2.00, potentially over the next few days if momentum holds. The last breakout featured a 335% increase in price. We only need a 47% breakout to reach the $2.00 mark. There’s a lot to be excited about.
Bearish Prediction:
On the flip side, gravity is still a factor here. Many investors have been patiently holding their positions for a long time in ADA and may take the chance to secure profit around the $2.00 mark. So don’t be surprised if there is downside resistance at this major psychological barrier. This may even be the next consolidation point.
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Stay tuned for the newsletter next Monday and thanks again for being a subscriber! Feel free to email me with any questions or suggestions you may have. Have a killer week trading!
Brandon Zemp
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