Cardano appears to be positioning itself for a breakout soon, as ADA’s price continues to consolidate inside a bullish ascending triangle.
During the last 7 days, ADA buyers have managed to drive the price up over 26% from a low of $0.073 to a high of $0.093, and nearly double the trading volume. A tweet from Weiss Ratings earlier in the month, which hyped up the upcoming Shelley Testnet launch, seems to have catalysed this latest wave of support.
https://twitter.com/emurgo_io/status/1131225385964855297
The ‘official venture arm’ of Cardano, Emurgo, responded to Weiss Ratings post adding that ADA stakers will have to wait another 3-4 months until the full functionality is made available to the wider community.
Previously, IOHK’s Co-Founder, Charles Hoskinson, had hoped that the Shelley mainnet would be ready before the end of Q1, however the upgrade has proved to be more difficult to roll out than anticipated.