![]() ![]() The flip side to that coin is that perhaps Cardano can make up ground and give bulls a nice return as it catches up to its peers. Put simply, we don’t like assets that are significantly underperforming vs. Underperforming assets - also known as relative weakness - are a concern among traders. The first is that its failure to rally is more of a concern than an attractive quality. In fact, ADA-USD remains 33% below its all-time high. ![]() With the recent momentum in cryptocurrencies, many coins are hitting new all-time highs. ![]() That should help make it more practical in every day situations and thus, increasing its value to investors. Ultimately, that will cut back on energy spent on mining operations and improve Ethereum’s network speed. That marks a shift in the cryptocurrency from a proof-of-work system to a proof-of-stake system. Those applications are only growing as Ethereum 2.0 rolls out. Ethereum is one of the few that acts as a store of value and has actual practical applications. While many coins are making a large push higher, not all of them are of very high quality. However, the quality of Ethereum is another driving factor in being long. I now wouldn’t put the $4,900 to $5,000 area out of the realm of possibilities for this cryptocurrency. Like Bitcoin, Ethereum hit its low in late July and went on a stunning rally.Įarlier this month, Ethereum reached more than 150% from the July low.īetween starting this article and finishing it, Ethereum did indeed make new all-time highs. Not only is Ethereum the second-largest cryptocurrency by market cap, but when I started writing this, it was so close to hitting new all-time highs on the most recent rally. ![]()
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