ADA price could be preparing for a big breakout as a recent report shows that the Cardano blockchain is at the forefront in terms of development activities. Based on publicly available Github information, another statistic shows that ADA has more upside potential as the Cardano blockchain project leads the average number of active developers in 2021.
Cardano growth explodes in 2021
According to a recent report from Santiment, the Cardano blockchain will lead development activities in 2021.
Even if the development activities have no direct impact on market trends in the short term, they show the team’s monthly commitment to develop the product and update its features accordingly, with a long-term roadmap. Meanwhile, Kusama and Polkadot follow closely behind Cardano and Ethereum is fourth.
Cardano also leads to their Github repository in terms of active contributors in 2021, with an average of 53 daily contributors.
Top platforms in terms of average growing active contributors in 2021
According to Santiment, the above statistics show that the entire crypto ecosystem and large projects like Cardano with active developer communities “naturally dominate”.
ADA price awaits 32% increase
Price has formed a symmetrical triangle pattern on the 12-hour chart, suggesting that ADA may consolidate further until a critical breakout for its next move.
The Ethereum killer could be waiting for a 32 percent rally if it breaks the upper trendline of the chart at $ 1.50.
Ahead of a bullish upper-bound test, ADA will encounter resistance at the 21 12-hour Simple Moving Average (SMA), which coincides with the 38.2% Fib retracement at $ 1.40, followed by 50% Fib at 1, 45 USD.
12-hour ADA / USDT chart | Source: TradingView
Price may hit another hurdle at the 12-hour SMA 100 ($ 1.49) before reaching the upper bound of the technical pattern. If the ADA breaks above $ 1.5, there is a chance the market will experience a 32 percent rally that will push the price up to $ 1.98.
However, if selling pressure builds, ADA price will find immediate support on the 12 hour SMA 50 at $ 1.33, followed by the 23.6% fib retracement at $ 1.32. Other defenses could emerge at the August 3rd low of $ 1.26, followed by the December 4th low of $ 1.18.
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ADA will grow 32% as Cardano leads development
ADA price could be preparing for a big breakout as a recent report shows that the Cardano blockchain is at the forefront in terms of development activities. Based on publicly available Github information, another statistic shows that ADA has more upside potential as the Cardano blockchain project leads the average number of active developers in 2021.
Cardano growth explodes in 2021
According to a recent report from Santiment, the Cardano blockchain will lead development activities in 2021.
Even if the development activities have no direct impact on market trends in the short term, they show the team’s monthly commitment to develop the product and update its features accordingly, with a long-term roadmap. Meanwhile, Kusama and Polkadot follow closely behind Cardano and Ethereum is fourth.
Cardano also leads to their Github repository in terms of active contributors in 2021, with an average of 53 daily contributors.
Top platforms in terms of average growing active contributors in 2021
According to Santiment, the above statistics show that the entire crypto ecosystem and large projects like Cardano with active developer communities “naturally dominate”.
ADA price awaits 32% increase
Price has formed a symmetrical triangle pattern on the 12-hour chart, suggesting that ADA may consolidate further until a critical breakout for its next move.
The Ethereum killer could be waiting for a 32 percent rally if it breaks the upper trendline of the chart at $ 1.50.
Ahead of a bullish upper-bound test, ADA will encounter resistance at the 21 12-hour Simple Moving Average (SMA), which coincides with the 38.2% Fib retracement at $ 1.40, followed by 50% Fib at 1, 45 USD.
12-hour ADA / USDT chart | Source: TradingView
Price may hit another hurdle at the 12-hour SMA 100 ($ 1.49) before reaching the upper bound of the technical pattern. If the ADA breaks above $ 1.5, there is a chance the market will experience a 32 percent rally that will push the price up to $ 1.98.
However, if selling pressure builds, ADA price will find immediate support on the 12 hour SMA 50 at $ 1.33, followed by the 23.6% fib retracement at $ 1.32. Other defenses could emerge at the August 3rd low of $ 1.26, followed by the December 4th low of $ 1.18.
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
Follow the Youtube Channel | Subscribe to telegram channel | Follow Facebook page
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