The recent White House announcement has placed the spotlight on Cardano as the leading Proof-of-Stake blockchain that’s currently on the market. This recent news follows the announcement of the Vasil upgrade which aims to improve usability and scalability. A simple Twitter search of ADA will result with tweets of happy and confident traders and investors. “Here is the White House energy report showcasing #Cardano as the largest proof of stake blockchain in the world. Probably something,” said Dan Gombardello in a recent tweet. At the day of the announcement, ADA’s price went up 7.43 percent with a high of $0.5243 before stabilizing at the range $0.5215 to $0.4992. Using the regression trend tool, we can clearly see an uptrend forming even several days before the White House announcement. This uptrend formed clearly after the recent crash in the early half of August. Cardano Gets Some Lift From White House Announcement During this crash, the coin experienced a 25.18 percent drop in price. It continued stabilizing at the $0.4354 support line. Trade volumes have also risen since the announcement at 3.63 million. This solid but slow uptrend coupled by the announcement further solidified confidence in the coin. Trade indicators also point to buy signals as the price further stabilizes at the 50% percent Fib level which sits at the $0.4992 range. The bulls have also tested the 38.20 Fib level which sat at $0.5219 range. If the uptre...
