- Over the past few weeks, Cardano has been in somewhat of a slump.
- The recent games that it was registering were mainly thanks to the investors on the network in the run-up to the launch of the Shelley mainnet.
Over the past few weeks, Cardano has been in somewhat of a slump. The recent games that it was registering were mainly thanks to the investors on the network in the run-up to the launch of the Shelley mainnet. This bullish momentum at the start of June so it’s a rally in order to take a top 10 position as one of the biggest cryptocurrencies in the industry.
In fact, over the past few weeks, this has been a tale that has been rife throughout the space for many assets. A big target for many of the bullish momentum for the Cardano token though is a $0.085 high which would be a confirmation of a bullish breakout.
Towards the end of this week, as we entered into July, a virtual summit was held by IOHK & EMURGO in order to address the launch of the Shelley update. Charles Hoskinson, the CEO, and founder of the network confirmed the event on Twitter and promised some major announcements as well as special guests to attend the virtual meeting.
But volatility is still expected throughout the community.
As the market has been going through a sideways trend of the past few weeks/months, Cardano has been performing relatively well. If this support can continue, there should be no real reason to panic.