A popular crypto analyst and trader claim that Cardano (ADA) is expected to rally after the upcoming Vasil hard fork upgrade is completed.
The analyst, Benjamin Cowen informs his 767,000 followers on YouTube that though Cardano (ADA), a smart contract platform is currently struggling for a bull run, ADA might hit $0.60.
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 an extremely bullish prediction towards Cardano, Benjamin claims to be closely observing ADA/ETH price action.
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.
Moreover, Cowen believes that Ethereum’s upcoming merge which transforms the current proof-of-work (PoW) to proof-of-stake (PoS) will be a positive incident for ADA price action as well.
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 a surge of 3.29% over the last 24hrs.