Cardano To Replicate Ethereum Price Movement! ADA Price is Heading To This Level

The post Cardano To Replicate Ethereum Price Movement! ADA Price is Heading To This Level appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

Today, the cryptocurrency market has sharply moved lower including the world’s largest cryptocurrencies by market cap, Bitcoin, Ethereum, XRP, Solana, and Cardano among others.

This has resulted in a global market cap tracing back around $2 trillion where Bitcoin price has dropped 5% over the last 24hrs along with Ethereum and its challengers, Cardano, and Solana is also leading the market lower end as most of these currencies are down between 5% and 10%.

Decision Time For Cardano!

A popular Crypto analyst, Cowen informs his 723,000 YouTube subscribers that it looks like an Ethereum challenger and smart contract platform, Cardano is closely following the footsteps of the second-largest crypto by market cap, Ethereum’s 2016-17 market structure when the currency had sunk to new lows in late 2016 and raised back by more than 100x in 2017.

Cowen recalls the time when ADA revisited its bull market support level, a market indicator that was obtained from the 20-week simple moving average (SMA) and the 21-week exponential moving average (EMA).

At the press time, ADA price is changing hands at $1.06 with a sharp fall of 7.74% in the last 24hrs.

Cowen is seen explaining to his viewers that, if Cardano replicates Ethereum’s 2016/2017 move, then bulls must push ADA towards the $2.60 range within the next two months or little more than two months.

Cardano To Host DigiRack NFT Marketplace

DigiRack, a multi/cross-chain NFT marketplace is built on the Cardano blockchain for art creators and end-users. This NFT marketplace was launched on April 6, 2022, and the pre-sale date is scheduled for April 20, 2022.

DigiRack is focused on providing the lowest fees associated with the Cardano Blockchain. DigiRack is not only a place for buying and selling NFTs, but it will also have its own NFT launchpad that will help creators to launch their NFT projects with support from the Cardano community.