Cardano Spikes on Coinbase Pro Launch: ATH Next Target?
Cardano has seen a surge in price since the previous session after Coinbase Pro announced that the digital currency will be available for trading on its platform starting today. At the time of writing, ADA is trading around 1.28.
Coinbase’s official announcement drove a sharp increase of over 48% in ADA prices over the past 24 hours, adding more reasons to cheer among its traders. Earlier this week, Cardano was added to the Bloomberg Terminal, a sign that more professional investors are interested in trading this recent addition to the crypto market.
Technical indicators point to a possibility of further bullishness, with prices expected to rise to an ATH of $1.60. After the price consolidates and the support at the $1.20 level strengthens further, the next target for the digital currency appears at $1.60. The MACD trend indicator also points to further upside in this cryptocurrency in the near-term.
There is considerable interest in Cardano lately, with the blockchain network recently undergoing a new upgrade titled Mary and promising to launch several new projects soon. The founder of the Ethereum killer network has also expressed hope that the latest hard fork could attract more DeFi projects to move out of Ethereum and towards Cardano, which promises lower gas fees and better scalability.
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