Why Many Analysts Predict Cardano (ADA) & Altcoins Will Rally In September.
Many analysts and strategists believe that this could be a good month for Cardano (ADA) and many other altcoins. Altcoin could be the winner in September due to many important updates that are going to happen.
Cardano (ADA) Could Be The Rally Winner
Crypto trader, Benjamin Cowen believes that Cardano is likely to surge due to the smart contract platform’s upcoming Vasil hard fork upgrade. Speaking on his Youtube video, he said that he sees ADA surging to a price of around $0.60.
He said that, “if you were to see ADA pump to around $0.52 to $0.60, I think that would be a fairly major milestone for ADA to get to, or to get past it. Especially as the bear market for Bitcoin sort of just drags on and the dollar continues to move higher.”
Cowen also states that Ethereum’s The Merge could also help to rally the price of ADA.
“The one thing that might pull [ADA] up, though, is also the ETH merge. There is some hype around that. That might help pull [ADA] up to [the $0.60] level, but just keep an eye on that $0.50-$0.60 range as potential resistance for ADA, just like it was at two times that valuation earlier this year.”
ADA, XRP & Other Altcoins Could Also Rally
Other than Benjamin Cowen, analysts like Michaël van de Poppe and also Altcoin Sherpa believes Cardano (ADA) will rally.
Michaël van de Poppe tweeted on 3rd September, “Cardano has the hard fork coming up and has a beautiful retest of support, confirming a double bottom. Targets: $0.55 and $0.75,” before updating again on 5th September, “#Cardano looks ready for continuation.”
— Michaël van de Poppe (@CryptoMichNL) September 4, 2022
Another analyst, Altcoin Sherpa also tweeted the same predictions as Michaël van de Poppe and Benjamin Cowen. They believe that ADA has a good chance of rallying this month.
$ADA: I have some friends in this one, it looks decent relative to other alts rn. I dont think this is necessarily 'the bottom' and .55 should be resistance. That said, this almost looks like accumulation on higher time frame charts. #Cardano pic.twitter.com/7VCGHXocU7
— Altcoin Sherpa (@AltcoinSherpa) September 4, 2022
At the time of writing, ADA is priced at $0.50 around a 3% increase from the previous 24 hours.
For XRP, Michaël van de Poppe feels that it will also be a coin to look out for.
“Squeeze between 50-MA (50 days moving average) and 200-MA (200 days moving average). Break above 1700 sats (0.000017 BTC) ($0.34) and target at 2200 sats (0.000022 BTC) ($0.44) seems likely.”
Altcoin Sherpa also tweeted about his predictions about another altcoin, Shiba Inu. He feels that currently the coin is ‘very neutral’ and has a chance to spike unlike any other coins