A widely followed cryptocurrency analyst says Cardano (ADA) is likely to surge ahead of the upcoming Vasil hard fork upgrade of the smart contract platform.
Cryptocurrency trader Benjamin Cowen To tell His 767,000 YouTube subscribers say that while ADA is in a clear bear market, Ethereum (ETH) challengers could quickly jump to $0.60.
If we see ADA go from $0.52 to $0.60, I think that would be a pretty big milestone for ADA to reach or surpass. Because the dollar continues to rise.
Analysts say they are watching ADA/ETH valuations closely before getting overly optimistic about Cardano.
If you are going to buy an altcoin like ADA, you should at least feel like it will likely outperform not just Bitcoin, but Ethereum.
If at the bottom of these [ADA/ETH] If it’s a range, I’m a little optimistic that it might actually beat them. “
Cowen also notes that Ethereums highly anticipated move to a proof-of-stake consensus mechanism could also be a bullish event for ADA prices.
“One thing that might pull [ADA] However, it is also an ETH merge. There is hype around it.it may help to pull [ADA] to [the $0.60] However, keep an eye out for potential resistance in the $0.50-$0.60 range for ADA, as valuations doubled earlier this year. “
ADA is trading at $0.492 at the time of writing, down 2.2% over the past 24 hours.
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