Cardano (ADA) is about to make its “biggest announcement yet”. The content: of course smart contracts. So ADA’s gonna fire the course rocket this week?

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Is Cardano finally getting smart contracts?

There is movement in the Cardano markets: ADA founder Charles Hoskinson has been talking about integrating smart contract functionality into ADA for ages-now the long-awaited update is apparently nearing completion. ADA founder Charles Hoskinson recently talked about announcing a launch date in mid-August. Now popular CNBC journalist Ran Neuner (@Cryptomanran on Twitter) writes to his more than 269,000 followers: Cardano founder Charles Hoskinson will announce big things about smart contracts on his Youtube channel “Crypto Banter” tomorrow! It is the “biggest announcement so far”, says Neuner:

“Tomorrow on Banter, @IOHK_Charles will make a big announcement about smart contracts. It’s the biggest announcement yet.“

Whether this is really an announcement with news value remains to be seen. It is quite possible that this is just another “announcement of an announcement”.

Peter Brandt: Cardano’s price action is bullish

Either way bullish on Cardano (ADA) is currently trading veteran Peter Brandt. Brandt is considered one of the longest-serving traders in the crypto scene, has more than 40 years of professional experience, according to his own statements. He comments: ADA’s price action at the moment is “bullish” – provided Cardano can stay above a certain price level. Brandt explains:

“New development at Cardano $ ADAUSD. The rise above the July 4 high far negates the potential decline of the H & amp; S top in this cryptocurrency. In fact, this price action can be considered bullish as long as the price remains above 1.25.“

ADA is currently trading at $ 1.80, well above the bearish lower limit of $ 1.25. Either way, ADA (to buy from eToro or Libertex) is one of the top performers in the crypto top 10 and has risen more than 34% in the last week.

Monthly chart of Cardano: Path points steeply upwards. Source: Tradingview.com

“Just wish I had bought more”

Analyst Justin Bennett comments on Cardano’s rise as follows:

“ADA goes up vertically. I just wish I had bought at the support confluence at $ 1 more.“

Whether Cardano can maintain the short-term steep growth remains to be seen. The ADA price will probably rise slightly in the run-up to the “biggest announcement” mentioned by Neuner. However, it could also lead to a decline below the price outlined by Brandt if the news is less relevant as announced.

In the medium term, ADA is likely to record strong profits if the smart contract functionality is indeed integrated as promised soon. According to Hoskinson, the network is currently preparing for the final phase of the “Alonzo”update, which will equip the platform with smart contracts.