Tag: Cardano

The Cardano (ADA) token marked a two-year low at $0.239 as recently as December 30 but has since experienced a sustained upswing that catapulted the price to $0.264 at press time. Within the last 24 hours, ADA is recording an increase in price of around 5%, with a trading volume of around $250 million. However, a look at the 1-day chart reveals that Cardano is far from out of the woods. The ADA price has been in a falling trend channel since mid-August 2022. Since early December alone, the ADA token has fallen 25%. While the 50-day simple moving average (SMA) is an initial target at $0.291, ADA needs another boost above $0.33 to break out of the bearish trend. Thus, today’s move could mark a budding momentum for the bulls. The MACD indicator was showing a bullish crossover a few days ago, suggesting buying pressure is building up. Related Reading: Cardano Enters 2023 With A Bang, But ADA Still Bearish In The Short Term Meanwhile, the Relative Strength Index (RSI) is currently at 46 and is now in neutral territory after spending much of the second half of December in oversold territory. Looking at the 4-hour chart, Cardano has seen a major rejection at the key resistance zone of $0.266-$0.271. For ADA investors, the mark could be the first major step to tackling the $0.28 level. After that, the most crucial resistance would be waiting in the $0.291-$0.30 zone. Only if Cardano manages a breakout, the attention could move to the higher time frame, setting up a final strike against the bearish trend. Cardano Whales And DeFi Activity Could Spur The Price Some upside to the ADA price may have been provided by the growth of the Cardano DeFi ecosystem. After hitting a low of $48.95 million on January 1, Total Value Locked (TVL) has risen again today to $52.53 million according to data from DeFiLlama. Related Reading: Cardano (ADA) Extremely Undervalued? On-Chain Data Suggests So Some of the leading decentralized financial protocols on the Cardano network have seen an uptick in activity. Within the top 7  decentralized applications (apps), all have seen at least a 3.5% increase over the last 24 hours in terms of TVL. With +21.5%, Lending Pond leads the growth over this period, but also over the last month (+50%). Another reason for the uptick in price could be larger ADA investors. WhaleStats data shows that large BSC holders also have a keen interest in buying Cardano (ADA). ADA purchases are within the top 10 of the 4,000 largest BSC whales in the last 24 hours. In addition, the largest BSC whales currently hold 19.9 million ADA, which is worth $5.19 million and represents 0.68% of the total supply. JUST IN: $ADA @CardanoStiftung now on top 10 purchased tokens among 4000 biggest #BSC whales in the last 24hrs 🐳 Peep the top 100 whales here: https://t.co/CnPsLVmRmh (and hodl $BBW to see data for the top 4000!)#ADA #whalestats #babywhale #BBW pic.twitter.com/3GdW9PeU5T — WhaleStats – the top 1000 BSC richlist (@WhaleStatsBSC) January 4, 2023 Featured image from IOHK Blog, Charts from TradingView.com

The Cardano price had increased over the weekend, but the coin showed lateral price movement at press time. Over the last 24 hours, ADA has dipped about 0.2%. The ADA has gained 4% in the last week, indicating a positive trend. According to the technical outlook, the Cardano price has not yet reversed its price action. The downtrend continues despite the coin securing minor gains over the last few days. The buying strength remained low, which depicted lower accumulation as well. Cardano bounced back from oversold territory, but the selling momentum was still strong. With the Bitcoin price falling and fluctuating between $16,900 and $16,600, altcoins have also seen choppy and undecided price movements. Following major market movers, ADA traded between $0.26 and $0.27, with the altcoin falling below the $0.25 price mark in the last 24 hours. The market has presented signs where buyers can make an entry to make some gains over the shorter trading timeframe. The trading volume of Cardano was low, indicating a lack of buyers. ADA is trading 91% below its all-time high secured in the last year. Related Reading: Terra Classic (LUNC) Beats The Odds With 16% Rally, More Gains Ahead Cardano Price Analysis: One-Day Chart ADA was trading at $0.25 at the time of writing. Because of the recent depreciation, ADA has lost its $0.26 support line. If buyers push harder, Cardano can be expected to trade above the $0.26 level again. The major mark of resistance for ADA stood at $0.28. As per the technical indicators, Cardano price might lose the $0.25 level before it starts to make upward strides again. That would mark an entry point for buyers and an appropriate shorting opportunity for traders. If the Cardano price fell below the $0.25 mark, the first support stood at $0.24 and then at $0.22. The amount of Cardano traded in the last session declined, signifying bearish price action. Technical Analysis Despite Cardano recovering from the undervalued zone, it still hovered close to the selling dominance zone. The Relative Strength Index was below the 40-mark with a downtick, which could lead to another fall in price before the altcoin makes a comeback. The Cardano price was below the 20-Simple Moving Average (SMA) line, which meant sellers continued to drive the price momentum in the market. Traders shorting will make gains over the next trading sessions as ADA prepares to topple past the 20-SMA line. Bearish conditions prevailed for Cardano, as the other indicators also pointed in the same direction. The Directional Movement Index (DMI), which demonstrates the price direction and strength, was negative. The -DI line (orange) was above the -DI line (blue), indicating that sellers had more strength in the market. The Average Directional Index (red) was at 40, depicting increased strength in the current price direction. This reiterated that the bears were strong, which would mean another fall for ADA, which could benefit sellers. The Moving Average Convergence Divergence portrays the price momentum. The indicator just painted one small green signal bar, indicating that buyers could find an entry point now to log gains over the immediate trading session. Related Reading: Bitcoin Miner Selling Power Plunges, Green Signal For Price? Featured Image From UnSplash, Charts From TradingView.com

Cardano price has been consolidating on its chart at the time of writing. Over the past day, ADA moved down by 0.6%, indicating that the altcoin was rangebound. In the past week, Cardano price has depreciated by 3%. The bulls had helped the coin to soar close to the $0.46 level as demand for the coin returned briefly on the chart. There has been rigid resistance to the altcoin at the $0.48 price mark. The technical outlook of the Cardano price has remained bearish as selling strength mounted on the chart. The support zone for the coin stood between $0.44 and $0.40 on the chart. If buying strength returns, the coin may try to move close to $0.46 before attempting $0.48. At the present time, ADA is trading 86% lower than its all-time high. With increased and sustained demand, ADA should be able to manage to move above $0.48, which could cause the altcoin to invalidate its bearish thesis. Cardano Price Analysis: One Day Chart ADA was trading at $0.44 at the time of writing. The bulls had stuck around for Cardano price to touch the $0.46 mark. The bulls were rejected soon after that. Overhead resistance for ADA was at $0.48, following which the coin might encounter another price ceiling at $0.52 before unleashing the bulls again. On the other hand, the nearest price floor for Cardano was $0.41. Falling below that level will only strengthen the power of the bears. The amount of Cardano traded in the last session fell, indicating that the demand was low as selling strength took over. Technical Analysis ADA continued to display the power of selling strength by showing that the price of the altcoin continued to travel southwards. Technical indicators depicted lower demand for the altcoin. The Relative Strength Index was below the half-line, and that meant an increased number of sellers in the market for Cardano. Cardano price was below the 20-SMA line, which pointed toward reduced demand for the altcoin. It also shows that sellers were in charge of the price momentum. With more demand and buyers, Cardano could attempt to move above the 20-SMA and 50-SMA lines, respectively, helping the bulls to garner strength on the chart. Related Reading: Investors Cash Out $5M From 7-Week Bull Run On Short Bitcoin ADA continues to demonstrate that sellers were more active compared to buyers on the 24-hour chart. The price movement was overall in a downtrend. Moving Average Convergence Divergence displays the price momentum and the price action of the coin. MACD continued to display red histograms, which are considered as sell signal for the coin. The Parabolic SAR also accounts for the price direction of the altcoin. The formation of dotted lines above the candlestick by the Parabolic SAR indicated that the Cardano price was in a downward trend. Related Reading: Ethereum Name Service (ENS) Looks Strong, Eyes $16 Reclaim Featured image from Mint , charts from TradingView.com

Cardano has been one of the cryptocurrencies that have been able to hold despite the market crash. With the recent recovery, the digital asset has seen some movement, although it continues to trend around the same level without any significant swings upward. However, there are some things that are coming up for the network that suggests there might be some upward movement happening soon. The Awaited Vasil Upgrade The Cardano Vasil upgrade has been on that has been in the works for a while. It is a hard fork that is meant to make the network more developer-friendly, thereby encouraging more people to build on the blockchain.  Related Reading: Will Ethereum Breach $2,000 Before The Merge? However, the hard fork has been the victim of multiple postponements, which have caused some shifts in the price of ADA. The first time the hard fork was postponed was back in June due to bugs that were found in the network. The next date had to be moved once more when the developers of the network were still not done with the bugs, as they wanted to make it safe to interact with. That has seen the launch date of the hard fork moved to August. But unlike the last two previous times that saw the upgrade postponed, Cardano founder Charles Hoskinson has assured the community in a video that he does not believe that there will be any more delays for the hard fork.  ADA trending at $0.5 | Source: ADAUSD on TradingView.com Cardano founders recently released a document that showed that they had made a decision on the final node for the hard fork. The Node 1.35.3 had apparently fixed the pressing issues found in previous versions that had delayed the launch and provided some CLI enhancements according to them. So they expect the hard fork to launch successfully on the mainnet with this node. Cardano Price May Respond Well With a more definite answer on if the Vasil hard fork is close to completion, Cardano investors are more confident to begin making decisions regarding the token. ADA still remains stagnant at $0.5, but present accumulation trends suggest that there might be a turn in this soon. Related Reading: Ethereum Price Forecast Remains Bullish As Network Nears Another Milestone There is also the fact that the entire crypto market continues to rally behind the anticipation of the Ethereum Merge. Ethereum developers have said they expect the Merge to happen sometime in September, and with the Vasil hard fork expected to go live sometime before, it would put the two important upgrades close together. Anticipation of both of these events will likely feed each other, given they are both smart contract networks, and trigger an upward push in price. If all launches go according to plan, ADA is likely to hit $0.7 by the end of September. Featured image from Zipmex, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

Avalanche (AVAX) price may be a point of interest for many analysts especially since the gaming token is exhibiting formidable strength amid a bear market. AVAX price reveals a consistent ramping activity combined with a rise in price. Avalanche RSI reveals a breach on the overbought zone. High probability of breach can occur at the $50 barrier. Related Reading: Cardano Tests $0.51 Support – Can ADA Reach Safe Zone And Hit $0.67? AVAX Shows Solid Traction At $29.50 According to CoinMarketCap, AVAX price is currently swinging it at $29.50 and is showing immense bullish traction with an increase of 5.45% as of this writing. In the right market conditions, traders can anticipate high volatility. The token’s price may be ideal for scalping this month. Technical indicators on AVAX price are showing signs of a bull run. More so, the token’s RSI was able to breach the overbought zone. In addition, Avalanche’s Volume Profile Indicator shows a ramping pattern. With these technical patterns, it’s wise to conclude that AVAX price is on the calm phase awaiting the storm surge. A breach at $30.50 could be compelling enough to push the coin to new heights. The token’s first target is set at $40 and next will be at $50. If the technical patterns are truly bullish, then AVAX will not drop and breach liquidity levels that sit right under the swing low of $22. If this bearish trajectory happens, then this can impede the uptrend of AVAX price as the token can dip to $14 or even $10. AVAX Suggests Rounding Bottom Pattern Judging by the Avalanche on a daily chart, the rounding bottom pattern is quite prominent. With this pattern, AVAX had no problem breaking the resistance zone of $28.8, and aiming to go higher. But, the trades will have to ignore the supply pressure to provide a candle closing seen hovering above the barrier. The long-tail rejection spotted on August 8 implies that the sellers fought hard to defend the barrier set at $28.8.  In addition, the daily chart also indicates Avalanche’s bullish crossover sliced in the middle of the 20-and-50-day EMA. AVAX intraday trading volume showed a pump in price of 6.68% or $891.6 million. Related Reading: Monero Faces Pressure In Keeping Upward Pace – Will XMR Overcome Resistance? The AVAX/USDT pair displayed a remarkable reversal in price movement after it slumped at $14.94 seen in June 2022. With this bullish action, the price also increased by 118% as seen in the past two months peaking at $30. The immediate price reversal formed a rounding bottom pattern with the neckline spotted at the $37 mark. The engulfing candle is extremely bullish and breached the $28.44 zone showing intensified buying activity. In spite of the bullish reversal, a candle spotted nearing the $28.75 level will be a pivotal sign that validates the formation of the rounding bottom pattern. AVAX total market cap at $8.4 billion on the daily chart | Source: TradingView.com Featured image from Forkast, Chart from TradingView.com

Cardano spikes by 5% as seen on the daily price chart Bulls likely to touch bullish triangle from $0.67 to $0.69 ADA at risk of retreating to $0.50 Cardano (ADA) price is looking straightforward bullish today bouncing back from yesterday’s dip. However, the price isn’t completely out of risk. ADA plunged to roughly $0.5067 yesterday and then increased to more than 5% shooting to $0.5401 today. Related Reading: Monero Faces Pressure In Keeping Upward Pace – Will XMR Overcome Resistance? ADA Price Spikes By 5.41% According to CoinMarketCap, ADA price has spiked by 5.41% or $0.5394 as of this writing. Cardano’s price is largely influenced by July’s US CPI data which could stir volatility in the crypto market. Bulls are eyeing the ascending triangle circling around the range of $0.67 to $0.69 with the possibility of a slump right under the support line of $0.51. With the major cryptocurrencies registering remarkable gains, Cardano and other altcoins are also showing an upward trend. Bitcoin has surged by 2% reaching $23,600 while Ethereum pumped its price by 8% or to $1,800. Notably, DOGE also rose to $0.07, and XRP spiked by 3% or $0.37 in the same way as SOL pumped price by 3%. The 34-hour chart for ADA price shows that it was able to come back strong from its downturn yesterday. But, its current price remains to hover above the 21-day EMA that offers support at $0.5080. Judging by the 24-hour chart, ADA is seen to ride by the buying action hoisted by an uptrend that’s been happening since July. ADA price has recently formed an ascending triangle pattern with a breach seen at $0.55 that could jump near the resistance zone from $0.67 to $0.69. Cardano Trading Volume Surges By 17% In addition, the 24-hour RSI is seen to surge to 56.7 following amplified buying activity. Trading volume has also increased by 17% seen in the past 24 hours. More so, the MACD curve shows a bearish divergence. A downtrend can bring the ADA price spiraling down to $0.50 and also creeping into the 50DMA spotted at $0.48. Cardano is showing a bullish movement targeting $1.00.  Cardano price may explode and increase making it extremely profitable for traders. Cardano price was observed to be rocky since May 2022 but the so-called Ethereum killer may have turned the tables around this July. From a technical standpoint, a breaking point at $0.56 could trigger a profitable point for ADA price to make 100% profit closing down to $1.00.  A crypto bull run may be induced with FOMO shooting for $1.25. Related Reading: SOL Fails To Notch New 60-Day Peak, Despite Recent Advances ADA total market cap at $18 billion on the daily chart | Source: TradingView.com Featured image from Coinpedia, Chart from TradingView.com

Cardano (ADA) price according to CoinMarketCap registered a jump of 3.96% or $0.5148 as of this writing.   CoinMarketCap hourly chart shows how ADA trades midway slicing in between the support zone of $0.4899 and the $0.5035 resistance level. In additi…

Cardano (ADA) is one of the few digital assets that has managed to hold its own through the downtrend. The digital asset has garnered a healthy following of supporters and continues to grow in conditions where others are struggling. However, Cardano’s …

It’s no surprise that Cardano has been gaining traction on price. ADA spiked by as much as 35% in just a week with price trend going the same route as last week’s forecasts. If you have been holding and trading Cardano for the longest time then the pas…

Cardano has been on a bullish run and it managed to cruise past the crucial resistance mark. Over the last week, ADA surged by almost 20%. The altcoin has been moving up in an ascending trendline over the last 24 hours. Currently, the altcoin has steadied on the $0.47 support line. Now Cardano has finally managed to claim its old resistance level and the bulls are back. For the bullish momentum to get intensified ADA needs to stay above the resistance mark it crossed above. It is however to soon to say if ADA is on a bullish momentum or if this is a relief rally. Bitcoin’s upward movement and moving above the $22,000 level has pushed other altcoins on a bullish price action. Buyers have returned to the market and strengthened the bulls. Broader market sentiments can again drag ADA to its immediate support level. The global cryptocurrency market cap today is $1.11 Trillion, a 5.4% change in the last 24 hours. Cardano Price Analysis: Four Hour Chart ADA was trading at $0.506 at the time of writing. The coin broke past the $0.50 price mark which it struggled to move past over the last few weeks. Overhead resistance for the coin was at $0.53 but a slight lose in the momentum could drag it down to $0.47. For the bears to remain subdued, Cardano has to remain above the $0.50 level for the next trading sessions. Buying strength also has to remain high for ADA to continue sailing north. Amount of Cardano traded remained high suggesting increased buying strength on the chart. Technical Analysis ADA displayed buying strength on the four hour chart. Buyers are in control and that could make Cardano rally further. In accordance with the same, the Relative Strength Index was above the 60-point indicating that buyers outnumbered sellers on the chart. Price of ADA was above the 20-SMA which is also indication that buyers were driving the price momentum in the market. Cardano was also above the 50-SMA and 200-SMA line which pointed towards bullishness. Related Reading | Why Cardano (ADA) Is Likely To Rise as High As $0.60 By End Of 2022, Experts Predict Other indicators turned bullish as Cardano started to travel upward. Moving Average Convergence Divergence depicts the price momentum and trend reversals. MACD underwent a bullish crossover and painted green histograms which is considered buy signal on the chart. The Directional Movement Index determines which way the coin is headed. DMI was positive as the +DI was above the -DI line. The Average Directional Index (Red) was nearing 40 and that means that the present trend is growing stronger. For ADA to continue upwards, buyers have to be present along with push from the broader market. Related Reading | Ethereum Pushes Above Vital Resistance, Could Soon Revisit $1500 Featured image from UnSplash, chart from TradingView.com

Cardano has been lagging behind the current bullish momentum in the altcoin market. While Ethereum (ETH), Solana (SOL), and XRP trend to the upside in the last 24 hours, ADA’s price continues to move sideways. Related Reading | JP Morgan Claims Drop In Bitcoin Production Cost Is Negative For BTC Price At the time of writing, ADA’s price trades at $0.44 with barely 0.5% profit in the last day. According to a survey conducted by Finder with 53 industry specialists, Cardano is likely to move higher from its current levels. The participants claim ADA’s price is set to end 2022 at around $0.60 with bullish expectations for the long term. In 2025, ADA could value at around $3 and close to $7 by 2030. Although the experts are bullish on ADA, this price target represents a far slower increase than the one predicted by Finder’s January survey. At the time, participants expected the price of Cardano to close out at $2.79 and at $58 by 2030. The expert believes Cardano developers have failed to meet market expectations regarding this network’s ecosystem and development. Expert Iwa Salami, Co-Director of the Centre of FinTech at the University of East London, said the following on Cardano and its potential to trend to the upside based on real-world use cases: I think the relevance of the Cardano blockchain, particularly as it seeks to foster financial inclusion in developing economies, is very significant and is likely to expand its long-term use, and therefore have a positive impact on the price of ADA. Is Now The Right Time To Buy Cardano (ADA)? In the short term, 17% of the experts expect Cardano to see bullish momentum on the back of the upcoming Vasil Hard Fork Combinator (HFC) event. An extra 20% believe the positive impact on the price of this cryptocurrency will be palpable in the long term. While there is a relevant percentage of these experts that expert bearish price action, the majority claim to be unsure of the future price impact of this event. Designed to provide the network with better performance, and throughput, and to increase its decentralization, the Vasil update might fail to provide bulls with enough momentum to break above the current range, at least for the time being. Ben Ritchie, another one of Finder’s survey participants and managing director at Digital Capital Management, is unsure about the potential impact of the upcoming upgrade. Ritchie is more certain about the potential long terms benefit. He said: In our understanding, the hard fork will benefit developers who want to use the Cardano network and the communities who love low fees and high-speed networks. However, the upgrade may be good for the future of the network as more project developers can build on the Cardano network with ease. Related Reading | JP Morgan Claims Drop In Bitcoin Production Cost Is Negative For BTC Price An important majority of Finbder’s panel (51%) believe Vasil will make this network more useful and facilitate the expansion of its ecosystem. As seen below, only 14% of the experts believe the opposite.

Cardano has depreciated on its chart considerably over the past few days taking away most of the weekly gains. Over the last 24 hours, ADA lost 2% of its value dragging price down to $0.42 on the four hour chart. ADA lost critical support of $0.44 which it tried to defend multiple times. After sloping downwards, now the coin has been trading laterally. The next major support level for ADA lies beneath the $0.40 mark. Technical outlook reflected bearishness on the chart. If ADA continues to display mundane price movement then it is only a matter of time till it loses its current support line. Buying strength fell significantly as buyers have lost confidence. Continuation of the present price trajectory will favour the sellers. The existing price range could prove as a buy opportunity. If buyers act on it, Cardano might witness relief on its chart. Cardano Price Analysis: Four Hour Chart ADA’s price traded sideways after it lost its crucial support of $0.44. At the moment, the coin has managed to flip its support level and transformed it into the resistance level. Overhead price ceiling stood at $0.44. With help of buyers the coin can attempt to revisit its aforementioned price level. If buyers do not come to rescue then Cardano is set to lose another 9% of its value. Critical support for the coin was at $0.38. Trading volume seemed to have risen today indicating that sellers have dominated the price action. The red trading bar signified the same on the four hour chart. Technical Analysis ADA displayed a fall in buying pressure after the coin lost crucial support. As sellers continue to dominate the market, the Relative Strength Index displayed the same reading. RSI was seen below the half-line after trying to slowly rise on the chart. Fresh sell-off displayed a downtick on the RSI. The price of Cardano was below the 20-SMA which meant that selling momentum was strong. This reading indicated that sellers were driving the price momentum at the moment. Related Reading | Litecoin Rejected At $55, Bears Might Drag LTC Below Immediate Support Line ADA in accordance with the other indicators displayed negative price direction on the chart. The Directional Movement Index determines the price trend. DMI displayed negative price trend as the -DI (Orange) line was above the +DI (Blue) line. The Average Directional Index (Red) was below the 40-mark and this determines strength in the current price trend. Continued movement downwards will drag Cardano to $0.40 and then to $0.38. Moving Average Convergence Divergence depicts price momentum and reversals of trends. MACD portrayed green signal bars which signified a buy signal for the coin. Related Reading | Cardano (ADA) Price Remains Low Despite Buzz Around Vasil Hard Fork Featured image from UnSplash , charts from TradingView.com

Data from DeFi Llama records a massive increase in the total value locked (TVL) of FluidTokens, a Cardano-based lending protocol. This blockchain deployed its smart contract capabilities in late 2021 and has been experiencing a spike in ecosystem growth as more projects are launched on mainnet. Related Reading | When Will The Extended Stretch Of Extreme Fear In Crypto End? According to DeFi Llama, the Cardano-based lending and borrowing platform has seen a 20% increase in its TVL for the past week and a 56,600% increase in its TVL during the past hour. FluidTokens managed to take the 7th position in terms of TVL with $24,200. This is far below the number one protocol in terms of TVL, WingRiders, which records $50 million, and the second protocol in the ranking, Minswap, which records $37 million. However, FluidTokens has been live for over a month and has been consolidating important partnerships which suggests the trend could extend. Via Twitter, the team behind the project announced a partnership with Eternl, a Cardano light wallet provider. The collaboration will allow users to access FluidTokens products “from any device”. In addition, the platform has been enabling liquidity for other Cardano projects. The platform will allow users to trade with Yummi Universe non-fungible tokens (NFTs), a popular project on this blockchain, and allow users to access a new use case: using their digital assets to obtain liquidity. Further data provided by DeFi Llama record a spike in token inflows and USD Inflows for FluidTokens over the past week. This spike in protocol activity could be related to the partnerships and collaboration announced during June and July. In the coming months, the protocol will enable a staking functionality for its native token FLUID and will consolidate sponsorships of DAO investment funds. By the end of the year, the platform will deploy additional functionalities to incentivize user activity further. Cardano Follows General Market Trend The Cardano ecosystem has been expanding at a fast pace and has generated a lot of attention due to its “Vasil” Hard Fork Combinator (HFC) event. At the time of writing, ADA’s price trades at $0.44 with a 4% profit in the last 24 hours and a 4% loss over the past week. The upcoming HFC “Vasil” will implement network updates and improvements to the Cardano blockchain. This should contribute to ADA’s price and bring bullish momentum to the cryptocurrency. Cardano has been trending to the downside more aggressively than other cryptocurrencies in the top 10 by market cap. This is probably motivated by the general risk-off sentiment across the crypto market. Related Reading | Bitcoin Price Spends Four Weeks At 2017 Peak Prices, What Comes Next? Data from Material Indicators records significant resistance for ADA’s price as it climbs from its current levels. There are over $2 million in asks orders poised to operate as major resistance. If the cryptocurrency can surpass this level, it will find resistance at around $0.50.

Talk around the Cardano (ADA) Vasil hard fork has been circulating in the crypto space for the last month. The hard fork which was supposed to go live back in June had been rescheduled to July due to security issues but that has in no way reduced the e…

Cardano (ADA) has been unable to follow through with its weekend bullish momentum. The cryptocurrency lost last week’s gains and seems poised for further losses as the crypto market trends sideways. Related Reading | TA: Bitcoin Price Trims Gains, Key Breakdown Support Nearby At the time of writing, Cardano (ADA) trades at $0.44 with a 5% loss in the last 24 hours. The cryptocurrency is at critical levels as $0.40 was operated as support during these past months’ bearish downside price action. Losing these levels could push ADA’s price back to its 2020 levels. At that time, the cryptocurrency experienced a massive rally after a long period of sideways movement and consolidation. From 2019 until 2020, Cardano traded below $0.5 and $0.15 which would represent a devasting loss for investors that bought ADA in the past two years. Legendary trader Peter Brandt suggests ADA could start descending into its 2020 levels. As seen below, Brandt claims that ADA’s price is following a head and shoulders pattern which spells future depreciation for this cryptocurrency. The legendary trader called ADA’s price chart “the very definition of ugly” and set $0.40 as a potential price target to the downside. This head and shoulders pattern could be invalidated if Cardano’s bulls managed to push the price above $0.70 in the short term. Otherwise, there is little support for Cardano below $0.40. Data from Material Indicators (MI) shows that most of the liquidity for the ADAUSDT trading pair is sitting above $0.44. There are around $1.5 million in bid orders below ADA’s price current levels and around $1 million in asks orders in the opposite direction. If the price follows the head and shoulders pattern into $0.40, as Brandt suggested, and continues to trend downside there are no bid orders that could operate as support. Therefore, ADA’s price could experience downside volatility. Can Cardano Avoid A Doom Scenario? At the same time, ADA’s price records a thin order book to the upside. If the price can sustain its current levels and make a run towards $0.50, there could be a change at invalidating Brandt’s head and shoulders pattern. Material Indicators record an increase in selling pressure from retail investors. Investors with bid orders of around $1,000 (green in the chart below) have begun buying into Cardano’s price action. Analysts from Material Indicators believe investors with these bid orders (in green below) are whales camouflaging as smaller investors. The relevance of Cardano’s current levels and the sudden increase in these orders suggests this possibility is likely for short timeframes. Related Reading | TA: Ethereum Revisits Key Support, Can The Bulls Protect More Losses Maybe these ADA whales have begun accumulating and could be able to defend these levels. In higher timeframes, all investors class have begun selling including investors with asks orders of around $100,000 which supports Brandt’s scenario.

The eighth-largest cryptocurrency, Cardano (ADA), has shown some indications of life during the last two weeks. The network’s minor improvements were what actually encouraged investors’ hope. After that, Cardano must work even harder to surpass $4 and catch up to Ethereum in terms of market capitalization. According to CoinGecko’s data, ADA is now trading at about $0.48 with a 7-day gain of almost 5%. So, without a doubt, the network requires a lot of support if it wants to move the token beyond the $4 threshold successfully. Related Readings | Bitcoin Drops Below $22,000, Is Peter Brandt’s Analysis Still In Play? In recent years, Ethereum has ranked second to Bitcoin in value. Despite a significant increase in value since its inception, Cardano is certainly one of the most significant blockchain networks in the market, and its native coin ADA ranks in the top 10 currencies. Per the Nomics statistics, the market cap of ADA is currently approximately $16.21 billion, while the market cap of ETH is roughly $147.93 billion. ADA accounts for just 10.93% of Ethereum’s market capitalization. Well, to match the market valuation of Ethereum, Cardano will have to surge by 9.25x. ADA would then trade at a price of $4, representing a gain of 823.39%. Furthermore, ETH has gained nearly 13% over the past week and is presently trading at $1,215.41. According to CoinGecKo statistical data, the daily trading volume for ETH is over $13,928,520,299, while the daily trading volume for ADA is almost $799,420,941. In addition, ADA is down 84% from its peak of $3.09 on September 2, 2021, or almost 10 months ago. Ethereum Vs. Cardano Anyone interested in cryptocurrency must be aware of the Cardano vs. Ethereum debate. Because both networks offer comparable services, Cardano (ADA) and Ethereum (ETH) are frequently compared. This is due to the features that both Cardano and Ethereum’s blockchain technologies offer. As a comparison, the infrastructure of Ethereum is more constrained, which results in higher operating costs, higher energy consumption, and slow transaction speeds. ADA, which positions itself as an alternative blockchain, essentially seeks to offer a solution to Ethereum’s issues. But unfortunately, its progress has been sluggish. The method used to build blocks and validate transactions, though, is what distinguishes them from each other. The main distinction at this time is that Cardano’s proof-of-stake Ouroboros consensus algorithm is proven to be more adaptable. The method is more efficient than Ethereum’s proof-of-work blockchain. Development Of Cardano To Compete With Ethereum Following the Alonzo upgrade, the Cardano network was compatible with smart contracts. The so-called Ethereum killer is aiming to introduce the most anticipated Vasil hard fork. Technology’s inherent traits that keep it current and make it susceptible to aging are development and upgrades. Network changes termed “hard forks” are also necessary for blockchains. Related Readings | Bitcoin Signals Short Term Bullishness, Move Towards $24K Next? Analysts anticipate that Cardano will keep its worth in the future. Moreover, they believe rebuilding will be favorable to the project, given that its forthcoming Vasil hard fork may present a chance for a price hike. Nevertheless, the good news is this Vasil, a much-anticipated upgrade from Cardano (ADA) that seeks to boost the network’s scalability and performance, has “successfully” completed its testnet run and is scheduled to go live on the mainnet (public blockchain) within 30 days.   Featured image from Flickr, chart from Tradingview.com

Cardano is gradually pushing through most of its network’s building phases. The Basho phase, the fourth of the five stages of Cardano’s developing plans, is progressing. The first three phases were Goguen, Byron, and Shelley, which provide smart contracts, the foundation, and decentralization, respectively. Finally, Vasil, the primary feature of Basho, is launched on Cardano’s testnet with a focus on scalability. In recent news, the Cardano network has completed the hard fork of Vasil on its testnet. This latest successful move prepares the network for the upcoming upgrade on the mainnet. The tech firm Input-Output Global (IOG), handling the project, announced on July 3. With the progressive movement, the network is expected to experience more scalability and excellent performance for all transactions. Also, the tech company is inviting project developers, stake pool operators, and exchanges to test run on the testnet. Related Reading | Can This Bitcoin Ratio Have Hints For A Bottom? They could roll out their projects to test the features of the Vasil. This would enable the team to timely maintain all necessary assessments and adjustment the final upgrade on the mainnet. The IOG team had planned for the Vasil upgrade on the Cardano mainnet to be on June 29. But it later postponed the date of the event. The team explained that fixing all the prevailing unharmful bugs needed more time. According to the statement from IOG, the network’s community is carried along in the project through its proposal. However, it would take the confirmed readiness of the community for the final launch of the upgrade on the Cardano mainnet. The tech firm estimated one month for the launch to take place. Cardano Price Reacts Despite Vasil Upgrade Launching Vasil on the mainnet is expected to introduce several scalability features on the network. These include enhanced transaction efficiency and performance and increased block creation speed or throughput. In addition, the upgrade would enable the interoperability of the network with several blockchains and networks. Also, there would be a reduction in the overall network cost for all users. Cardano has passed through a series of developmental stages. Smart contract integration stands as its last principal development stage. This was closely followed by decentralized applications as well as DeFi protocols. Cardano has been advancing gradually with lots of activities from developing irrespective of the numerous projects within the ecosystem. Related Reading | Leading Crypto Exchanges See Negative Funding Rates, Have The Bears Taken Over? Vasil upgrade is a great developmental project on the Cardano network. However, its news of launch hasn’t made a significant impact on the native token ADA. The price of the coin is around $0.44 at the press time. This shows about a 0.4% drop within the last 24 hours. Data from DeFi Llama revealed that the total locked value (TVL) for Cardano is $115.85 million. The most significant contributor is WingRiders, a DeFi exchange that holds up to $49.7 million. Featured Image From Pexels, and chart from Pixabay

Cardano follows the general sentiment in the market and records a slight recovery during today’s trading session. If Bitcoin and larger cryptocurrencies managed to extend the bullish momentum, ADA seems poised to benefit. Related Reading | Bitcoin Long-Term Holder Capitulation Approaching Bottom Zone, But Not Quite There Yet At the time of writing, ADA’s price trades at $0.45 with a 2% profit in the last 24 hours. Over the last 7 days, Cardano remains in the red with a 6% loss. The company behind Cardano’s development Input-Output Global (IOG) successfully forked the network’s testnet. An “important” step in the upcoming deployment of the Vasil upgrade on the mainnet. The company called on to stakepool operators, exchange platforms, and other actors to “commence their final testing and integration processes”. One month from now, Cardano will launch Vasil on its mainnet and will complete one of its most important milestones for 2022. According to IOG, Vasil will provide Cardano with “significant performance and capability upgrades”. The network will be able to increase its performance and throughput by providing developers with a “better experience”. In addition, the network will become more interoperable and with new functionalities, such as an Ethereum Virtual Machine (EVM) that will facilitate the task of migrating an ERC20 token to Cardano. This could open the door for new decentralized applications (dApps) and protocols to be launched on the network. IOG said: The Vasil upgrade is the most ambitious program of work we’ve undertaken. And the whole community is involved. Our prime concern is ensuring we manage this upgrade in a way that is safe and secure. Still, it might take some time before these dApps grow while developers launch tools and allow users to interact with them. However, the long-term bullish potential is expanding at a face pace. On this topic, developer Sebastian Guillemot said: One challenge with this is although they will now be supported at the protocol level, it will take some time for the tooling around these to be built. Notably, it will require some large change in how wallets handle tokens. Cardano Founders On Their 2022 Priority As the network advances to the Vasil upgrade, Charles Hoskinson, CEO at IOG, spoke about the work happening behind the scenes. 2022 has been a year dedicated to adoption, improvement scalability, and expanding the dApp ecosystem. In that sense, Hoskinson spoke about the importance of the recent network updates including the Alonzo Hard Fork. The results are already tangible, according to the inventor of Cardano, and will continue with Vasil: the work we’ve put in is showing – we’ve got a rapidly growing dApp and vibrant NFT ecosystem, with currently over 1,000 projects building on Cardano (…). It’s always difficult to define one key moment but the Vasil hard fork is pretty significant. Once these improvements fall into place, IOG will turn its eye to governance. As Hoskinson said, they will still work on updating the network, but “each year has a theme”. Related Reading | Mounting Support For Bitcoin At $19,000 As Market Ushers In A New Week Ultimately, Hoskinson said, the network will achieve its potential by providing real-world value and use cases to the users. This goes hand in hand with having a “clear” roadmap despite the criticism about delays from certain users: We have always pursued a defined, clearly-staged roadmap to deliver on Cardano’s capability and fulfil its long-term potential.

Cardano has slipped considerably on its chart over the last week. After losing support at $0.62, ADA has been on a freefall. On the daily chart, the coin has been trading in a descending channel. ADA has now secured $0.42 as its immediate support. Buying pressure has fallen on the chart as ADA has continued to display bearish sentiment. The bulls have been favouring the sellers and if it continues to do the same, the coin might break below the aforementioned support level. From the technical outlook it appears the Cardano might continue to descend further before it registers an upward movement. A strong revival cannot be predicted just yet, however, if buyers re-enter the market the coin could witness some relief. The global cryptocurrency market cap today is $914 Billion with a 0.3% positive change in the last 24 hours. Cardano Price Analysis: Four Hour Chart ADA was trading at $0.46 on the four hour chart. As the coin broke the $0.62 level, the coin has depreciated in value substantially. Over the last week, the coin lost close to 4.8% of its market value. Over the past couple of days, the coin has mostly oscillated between $0.47 and $0.45 respectively. Local support for the coin stood at $0.42, while the resistance for ADA was at $0.53. As buying strength has remained low, a move above the $0.47 mark seems difficult. The amount of ADA traded diminished significantly indicating bearish pressure. The volume bar was red signifying negative price action on the chart. Technical Analysis The altcoin displayed a fall in buying strength after it tried to recover shortly on the chart. The fresh decline on the chart pushed buyers outside the market. The Relative Strength Index depicted a downtick as the indicator was parked near the 40-mark. This indicated that sellers outnumbered buyers in the market. On the 20-SMA line, ADA was below the 20-SMA line which signalled that sellers were driving the price momentum in the market. If demand returns then ADA would push itself over the 20-SMA line gathering some bullishness over the next trading sessions. Suggested Reading | Cardano (ADA) Looks To Recover After Sliding To $0.43 – Pressure’s On For The Bulls In accordance with the falling buying pressure, capital outflows also increased. The Chaikin Money Flow depicts capital inflows and outflows in the market. CMF was seen below the zero-line, which meant that capital inflows have remained lesser than outflows. This meant that selling pressure has mounted in the market. The Directional Movement Index portrays the price momentum and possible reversals. The DMI was bearish as the -DI line was above the +DI line. The ADX (red) was nearing 20 displaying that there was weakness in the current price momentum. For Cardano to experience northbound movement, buyers need to take over the market. Suggested Reading | Dogecoin (DOGE) Could Use Some Lift – An Elon Musk Tweet, Perhaps? Featured image from The Forbes.com, chart from TradingView.com

Cardano was bullish on the chart, as market movers picked up optimistic price movement, so did ADA. Over the last 24 hours, the coin rose close to 6% and in the last week, and in the past week ADA secured a 12% gain. The coin has been trading between the range of $0.46 and $0.51 over the last few days. Price of Cardano has steadied itself at the $0.51 price level. Both Bitcoin and Ethereum also logged double digit gains in the past week. Technical of ADA pointed towards bullishness, however, it is crucial that the coin moves past its rigid resistance of $0.51. A move above the $0.51 mark can help Cardano secure another 6% appreciation. Buying strength had grown over the past few trading sessions, however, if ADA continues to remain at the current price mark then buyers can exit the market. The coin noted a slight fall in buying strength on the four hour chart. Cardano Price Analysis: Four Hour Chart ADA was trading at $0.51 on the four hour chart. The coin has been facing considerable resistance at the $0.51 mark and it hasn’t been able to move past it despite daily gains. The next price ceiling for the coin stood at $0.53, if ADA manages to trade above that then the bulls could stick around for long. A fall from the current price level will push ADA to trade near the $0.48 level. Cardano portrayed bullishness and it formed an ascending triangle pattern in agreement with the same. Trading volume of the coin has remained low indicating that there has been a fall in buying pressure. Technical Analysis ADA formed an ascending triangle but it also noted a fall in buyers in the market. If there is continued fall in buying strength then the altcoin’s price can soon walk on a bearish trajectory. The Relative Strength Index was parked above the half-line which is a sign of increased buying strength, however, there was a small downtick on the indicator. Despite the downtick, Cardano was above the 20-SMA line, which meant that there was significant buying strength and buyers were driving the price momentum in the market. Related Reading | Why Pain May Not Be Over For Bitcoin Holders Just Yet ADA’s buying strength fell but the coin displayed a buy signal. The Awesome Oscillator portray the price direction and the trend of the coin. AO depicted green histograms which can be construed as buying signal for the coin. Directional Movement Index outline the price direction of the altcoin and also highlights the change in the same. DMI was positive as the +DI was above the -DI line which indicates bullishness on the chart. Suggested Reading | Sandbox (SAND) Blows Up 20% Over Last 24 Hours Following ‘Takeover’ Rumors Featured image from Unsplash.com, chart from TradingView.com

Cardano showed an uptrend after it was trading laterally, the coin has now settled above the $0.47 support mark. Over the past week, the coin gained 7.2% but over the last 24 hours ADA lost 1% of its market value. After the consolidation, the coin targeted its immediate resistance mark. If the coin continues to remain at the current price level then bulls can be back in the market for a longer time period. The buyers also seem to be back in the market which has pushed ADA to show signs of relief. If buying strength loses its vigour then, the coin can move to $0.45, post which the coin can trade as low as $0.40. Even now the coin seems to be trading within a tight range, but the push above the $0.49 mark has displayed itself as a sign of bullishness. With consistent buying strength, Cardano can move past the $0.50 price mark. Cardano Price Analysis: Four Hour Chart ADA was trading at $0.51 on the four hour chart after it broke past its consolidation phase. The closest support level of the altcoin stood at $0.47 but slight push from sellers can drag prices to $0.40. There was bullish signals on the four hour chart. An ascending trendline points at bullishness (yellow). Push from buyers can help Cardano to rise to $0.52 and then to $0.56. To invalidate bearish thesis completely the coin has trade above the $0.56 for substantially long. The volume of Cardano traded also shot up indicating that buyers were active in the market. The volume bar was green signifying bullish price action. Technical Analysis Buying strength painted consistent upward movement over the past few days. The Relative Strength Index painted the same picture, the indicator was well above the half-line. This reading is tied to bullishness as buyers have taken over the market. Other technical also indicated buyers taking over. The price of ADA was above the 20-SMA line. A reading above which signifies that buyers were in control of the price momentum as they were responsible for driving it forward. Related Reading | Cardano Resists Downward Pressure, Can ADA’s Price Push Bears Away? ADA’s buying momentum showed positiveness on the four hour chart. Moving Average Convergence Divergence depicts price momentum and a trend reversal too. MACD underwent a bullish crossover and flashed green signal bars. These green bars are buy signals for the coin, this meant that bullishness was present in the market. Other indicators too have shown strength in buyers. Bollinger Bands indicate price volatility and they were parallel on the chart. Parallel Bollinger Bands means that price of the asset will hover around the same price range and that further indicates continued relief for the coin. Related Reading | Will The Vasil Hard Fork Trigger A Cardano (ADA) Bull Run? Featured image from UnSplash, chart from TradingView.com

The highly anticipated Vasil Hard Fork on the Cardano network has been rescheduled. The hard fork was expected to push forward work that had been done on the network over the last couple of years. Due to this, the news of the June 29th launch had spark…

Cardano (ADA) has been following the general sentiment in the market. The fifth cryptocurrency in terms of market capitalization has been trending to the downside but at a slower pace than larger cryptocurrencies. Related Reading | Bitcoin Long-Term Holders Realize March 2020-Like Losses As BTC Crashes At the time of writing, Cardano (ADA) trades at $0.48 with a 6% and 14% loss in the 24-hour and 7-day chart, respectively. The second crypto by market cap Ethereum (ETH) records a 30% loss over the same period, Binance Coin (BNB) a 24%, Solana (SOL) a 24% loss, and XRP an 18% loss in the past 7-days. Cardano’s developer Input Output Global (IOG) recently announced two products that could contribute to ADA’s price short-term strength. The company revealed a new wallet called Lace, and the deployment of a new Ethereum Virtual Machine (EVM). Lace is aimed at being Cardano’s new light wallet and to help it gain more adoption. The wallet will provide users with “enhanced capability and ease of use”. IOG said: IOG is developing Lace ‒ a ‘one-stop-shop’ for all blockchain operations. This new platform will be feature-packed, yet lightweight, streamlining online finance. Acting as a portal to Web3.0, Lace will encompass elements of true decentralization. On the other hand, the EVM was deployed on one of Cardano’s testnet. This tool will enable developers to build or migrate their solidity-based applications. Sebastian Guillemot, CTO at infrastructure builder dcSpark, believes the EVM on Cardano will allow the ecosystem to become a Cosmos or Polkadot-like blockchain. This could enable products to launch independently from the Cardano mainnet and develop their own dynamics. In the future, this could promote growth across this ecosystem. Cardano (ADA) With Increase Selling Pressure, Here Is The Critical Support The promise of growth in the Cardano ecosystem has been one of its key fundamentals. The blockchain recently deployed its smart contracts capabilities but has yet to see it come to full fruition. Data from Material Indicators (MI) records an increase in selling pressure from investors with asks orders above $10,000 (in red on the chart below). In the meantime, whales (purple and brown on the chart below) have remained neutral, at least, for a short timeframe. Related Reading | Rich Dad, Poor Dad Author Changes His Mind About Bitcoin? BTC Crashes To $23K Below its current levels, there are over $1,5 million in bids orders, as MI shows. These orders should operate as critical support in case of further downside.

Cardano has been looking towards its most recent hard fork titled the Vasil Hard Fork. This will improve not only the network efficiency but is said to make the network more developer-friendly as a whole. The countdown to the hard fork has been a sourc…

Considering the launch of the most anticipated hard fork on the Cardano blockchain, dubbed ‘Vasil,’ investors expect more growth for the crypto project in near future. Consequently, traders’ actions over the tentative launch of the most significant upgrade of the project pumped ADA’s value more than other top-ranked digital assets’ gains.  The upcoming upgrade will take place on June 29, 2022. And it will possibly impact the adoption of the Cardano network more than its previous hard forks. Related Reading | Bitcoin Bullish Signal: 1k-10k BTC Holders Have Been Buying Recently Per the trading stats of June 6, ADA has left behind major cryptocurrencies as investors see potential in the latest upgrade. As that aims to enhance blockchain capabilities to execute smart contracts. An example of it is yesterday’s upsurge of 14%, reaching its value of $0.64. On the other hand, its biggest competitor Ethereum was able to gain 6% at the same time. Notably, Cardano, a proof-of-stack blockchain platform, has already experienced large increases in the price many times whenever hard forks happened in the past. An example of it is the Alonzo upgrade which skyrocketed ADA’s price by more than 200%, launched in September 2021. Likewise, Mary hard fork launched in March 2021 saw a massive gain of up to 1,600% in the ADA’s price.  What Trapped ADA’s Bulls? The previous hard forks occurred in an expansionary macro-environment with the price rallies driving huge profits. During that time, Federal Reserve was buying government bonds for $120 billion each month. But unfortunately, after considering the continuous higher inflation, the U.S. central bank has now turned aggressive. As a result, analysts have been now pointing out there is less U.S dollar liquidity to purchase highly volatile assets, including cryptocurrencies and stocks. Like the entire crypto market, Cardano also lost its momentum due to the Fed’s tightening policies and high rates. As a result, ADA is nearly down 80% from its ATH of $3.16 recorded in September 2021. These facts dropped the ADA’s price significantly. Will The Vasil Upgrade Lift ADA At $1? To guess the possible price movements over the event, we must first consider what Cardano Improvement Proposals (CIPs) include. The upgrade adds four CIPs, including CIP-40 (Collateral Outputs), CIP-33 (Reference Scripts), CIP-32 (Inline Datums), and CIP-31 (Reference Inputs). The CIP-31 is mainly expected to reduce the transaction costs on the Cardano blockchain. Related Reading | Sentiment Check: Investors Add To Their Bitcoin Positions, $126M In Net Inflows Per statements of Cardano’s development team on the first week of May, “reference scripts reduce your transaction costs. Currently, new scripts need to be included in each transaction. With reference scripts, you can interact with the script through a reference, pushing it onto the chain. Interaction with a smart contract becomes minimal.” In line with a poll run by leading crypto tracker Coinmarketcap, the price estimate tool shows that 24,468 believe ADA price could touch the $1.06 level ending this month. And 15,940 voters predicted $0.972 as the peak price of ADA in ending July. Featured image from Pixabay and chart from TradingView.com

Cardano (ADA) has been one of the top gainers in the last 24 hours. Price of asset has pictured a bullish action on the daily chart. The bulls have regained strength and has continued to move past other resistance marks. The major resistance mark for the coin now rests above the $0.60 level. After the coin manages to trade above the aforementioned price level for the upcoming trading sessions, the bulls will find a strong footing. If ADA fails to cross above the $0.64 crucial resistance mark then the coin can again fall back to the $0.50 support level. With Bitcoin moving past the $30,000 price level, it is natural that other major altcoins has reflected on the same price action. The global cryptocurrency market cap today was $1.33 Trillion with a 3.8% positive change in the last 24 hours. Cardano Price Analysis: One Day Chart ADA was exchanging hands at $0.60 after registering over 8% gains in the last 24 hours. The crucial resistance for the coin awaited at $0.64. A fall from the $0.60 price mark would push Cardano to $0.50. In the last week, the coin secured double digit gains. It logged close to a 27% appreciation in its price. With positive price action, buyers seem to have returned to the market. Consistent buying strength will help bulls maintain their vigour. The volume bars displayed growth in the past trading session. The bar was green which indicated that ADA’s bullish leg was possibly back. Technical Analysis The buying strength registered a sharp uptick over the past few days. At the time of writing, buying strength was positive. The Relative Strength Index was placed above the half-line which is an indication that buyers outnumbered sellers in the market. The price of ADA stood above the 20-SMA line. This meant that buyers were responsible for driving the price momentum in the market at the moment. If the coin registers the demand then it could be possible for ADA to even cross the 50-SMA line. Price above the 50-SMA line is considered to be quite bullish for the coin. Related Reading | Cardano At $0.56, Here Are The Crucial Trading Levels For The Coin Bollinger Bands indicate the incoming price volatility of the coin. The bands depicted a squeeze in the market, which meant there could be a fall in price volatility. A fall in volatility means lowered price fluctuation for Cardano. The Parabolic SAR determines the price trend and a possible price reversal. Parabolic SAR’s dotted lines  are seen below the price candles at the time of writing.  As price increased, dotted lines gathered below the price and indicated a bullish trend for ADA. For Cardano to maintain the bullish stance, it needs to trade above the $0.64 price ceiling and that would ensure continued bullish price action.     Related Reading | Crypto Community At CoinMarketCap Predicts $1 Cardano By June 30

Cardano consolidated after the coin attempted to rise on the one day chart. Bitcoin extended losses so broader market continued to flash signs of weakness. The one day chart displays mixed signals which could also mean that the coin might be attempting to head north. Over the last 24 hours, ADA gained just 1% as it was primarily consolidating. In the last week, the coin substantially gained over 22%. Buyers in the market also attempted to display strength as the coin saw bullish presence over the past week. If buyers continue to remain in the market then ADA might push and trade near immediate resistance of $0.60. The price of ADA might fluctuate if sellers regain strength which could make the bears take over the market. Cardano Price Analysis: One Day Chart ADA was trading at $0.54 at the time of writing. After soaring by almost 22% over the last week the coin registered mundane price action. Its immediate support line was at $0.47. A fall below which could drag XRP to a low of $0.40. The overhead price ceiling for ADA rested at $0.62 and for the bulls to regain strength, Cardano atleast needs to trade above the $0.70 price mark. As the coin displayed sideways trading, a move on the up can be anticipated. The volume of the coin traded was recorded in green signifying bullishness. Technical Analysis The recent bloodbath in the crypto market had pushed Cardano to fall into the oversold zone. The coin was last oversold before this in the month of December 2021. On the Relative Strength Index, the altcoin had tried to peep above the half-line. This signified bullishness. At press time however, the Relative Strength Index noted a small downtick. Despite the small downtick the altcoin was still dominated by buyers. In accordance with the same reading, price of ADA was above the 20-SMA. A reading above the 20-SMA means that buyers drove the price momentum in the market.     Related Reading | Crypto Community At CoinMarketCap Predicts $1 Cardano By June 30 As buyers returned to the market, the Moving Average Convergence Divergence also turned positive. MACD flashed green signal bars as the bulls resurfaced in the market. These green bars can also be construed as buy signals. The incidence of buy signals in the market also agrees with the Relative Strength Index. Chaikin Money Flow which is an indicator that measures capital inflows and the outflows showed signs of recovery. Although there was an increase in capital inflows, CMF displayed a downtick that can be tied to capital inflows falling at the time of writing. ADA’s price is still on the lines of optimism if buyers continue to drive the momentum. Related Reading | Solana Below $40 Amidst Network Outage, Are The Bears Back?

Cardano’s price has been growing in recent weeks while the rest of the cryptocurrency market has been falling. This trend has encouraged some in the crypto community to be optimistic about its future price and make it a bright light among digital coins and tokens. According to the most recent predictions made using CoinMarketCap’s Market Estimation tool, which allows users to make crypto price predictions and check their average score, the community expects this crypto to trade at roughly $1 by the end of June.     Related Reading | Crypto Analyst Says Cardano, Avalanche and Two Others Have Potential To Perform Well In Bear Trend  CoinMarketCap Price Estimation Pool Figures Cardano hit a price of $0.4 on May 12 and then quickly reversed to $0.59 on May 13. The price then gradually dropped to $0.44 over the next few weeks. The price was still 10% higher than the low before, but we could call this a test of the bottom. ADA surged almost 50% since the test happened. ADA price estimates show an average price of $1.034 on June 30, 2022, which is $0.423 up from the current price or a 69.23% increase. As per the data obtained on May 31 from the analytics portal CoinMarketCap, Cardano was trading at $0.6698, a gain of 28.77% on the day and a gain of 29.10% compared to seven days earlier. According to the poll, there are about 24,430 people who have voted on May 30. 15,911 votes predicted that the price of ADA will rise relatively less by July 31- to $0.9399. Meanwhile, under statistics acquired on May 31 from Cardano Blockchain Insights, Cardano is back to having close to $500 million in its treasury or exactly $498,403,802.47. Through a voting procedure, the Cardano treasury is utilized to provide funds for the development of Cardano activities. Other Cardano Developments Like the hardfork approaches, other developments include the average Cardano blockchain load lasting reasonably high, at 64% on average in May. This implies that roughly 64% of blocks were utilized during this month. In other good news for the chain, in the month leading up to May 20, it gained more than 2,000 new wallets every day, for a total of 70,211 between April 19 and May 19. According to data from Cardano Blockchain Insights, it had 3,357,509 user’s wallets as of May 30.      Related Reading | TA: Bitcoin Price Resumes Decline, Can The Bulls Save This Support In addition, the successful introduction of ADACash gives Cardano a boost. On the other hand, developers aren’t slowing down when it comes to new ADA-USD projects. They market these projects as a third-generation blockchain after Bitcoin and Ethereum. Cardano is working on new projects, such as a marketplace for NFTs and a DeFi transaction exchange. These projects will take time to launch, but they demonstrate the value and capability of the Cardano blockchain. Which could lead to future growth in the ADA/USD price.   Featured image from Pixabay, and chart from Tradingview.com  

Cardano (ADA) exhibited strength over the last 24 hours as the coin rallied by almost 25%. With Bitcoin trying to climb up on its chart, altcoins have reflected the same price action. Broader market seems to be regaining its lost momentum with major market movers showing signs of recovery. The global cryptocurrency market cap today stood at $1.38 Trillion with a 3.6% increase in the last 24 hours. The buyers have re-entered the market after the bears failed to drag the price below the $0.40 support line. Cardano bounced off the aforementioned support line and started its journey towards recovery. Cardano happens to be one of the top gainers across the industry today. The demand for the coin surged and as a result the coin continued to break past several key resistance levels over the last 72 hours. Cardano Price Analysis: One Day Chart ADA was priced at $0.63 at the time of writing after rallying over 25% in the last 24 hours. The coin broke past many resistance marks and has now found support near the $0.50 price level. In case demand starts to drop, price might end up near the $0.59 to $0.50 mark following which the support level rested at $0.40. Overhead resistance for Cardano was at $0.78 and then at $0.93. For the bulls to firmly establish themselves, the altcoin has to aim for $0.78. Volume of ADA traded in the last trading session was high. The bars appear green which is a sign of positive price action signifying that buying strength increased in the market. Technical Analysis Demand for ADA rose as seen visible on the one day chart. In correspondence to the same, ADA’s price was above the 20-SMA line. This reading signified that buyers were in charge of driving the price momentum of the market. A push from the buyers can drive the price above the 50-SMA which would be a sign solid bullishness. In relation to the buying strength, Relative Strength Index rose sharply past the half-line. A reading above the half-line indicated buyers outnumbering sellers in the market. Related Reading | Cardano (ADA) Continues To Sink, What’s Next For The Coin? Awesome Oscillator displays the current as well change in the price momentum. The indicator displayed green signal bars that highlighted a bullish price momentum. AO also displayed buy signals which corresponded with the RSI. The Chaikin Money Flow indicates the amount of capital inflows and outflows. The CMF was above the halfline, which meant that capital inflows were more than capital outflows at the time of writing. The indicators although bullish might not be enough to validate the current bullish thesis. Sustained increase in demand for the coin along with market strength can help the bulls to sustain the price action. Related Reading | TA: Ethereum Tests $2K, Why ETH Could Extend Rally

Cardano has been making waves in decentralized finance (DeFi) ever since it debuted smart contract capabilities on the network. Development has ramped up, making it the network with the most developments going on. This activity has translated to a rise…

Cardano (ADA) recently fell below its support line of $0.50 as seen at press time. Just like Bitcoin, major altcoins too have either consolidated or fallen on their charts. On the longer time frame, Cardano (ADA) continued to display bearish thesis. For the shorter time frame, ADA was hinting at a possible price reversal on charts. Over the last 24 hours, ADA increased by 1.7% and in the last week, the coin brought home a double digit loss. The bulls have faded out as buying strength continued to remain bleak at the time of writing. At the moment, $0.50 has been acting as the coin’s immediate resistance mark. Immediate support levels for the coin ranged between the $0.44 and $0.40 price marks respectively. If broader market recovers along with a consistent buying strength, there could be hopes of a price reversal for Cardano (ADA). Cardano Price Analysis: One Day Chart ADA was trading at $0.47 at the time of writing. Ever since April the coin formed a descending channel which reflected bearishness on the chart. Recently, ADA broke out of the descending channel as it fell below the $0.50 price mark. At the moment $0.50 is acting as the nearest price ceiling for the coin. In case Cardano is able to break past the $0,50 price mark, the coin could trade near $0.58. A fall below the $0.47 price level will cause ADA to hover between $0.44 and $0.40. A fall beneath which might make ADA touch its over an year low price level. Volume of the coin dipped considerably signifying that bears were still in charge. Technical Analysis Cardano showed signs of price reversal on the four hour chart. The price of the altcoin was attempting to rise above the 20-SMA line. At the moment however, the sellers were still in charge of the price momentum. The Relative Strength Index registered an uptick which meant that the price was optimistic on the chart. Buyers were coming back in the market and an increased demand could push the asset above the 20-SMA. Increased demand will make ADA trade near the $0.58 price level and then the coin could attempt to touch the $0.70 price level. Related Reading | Ethereum Profitability Dumps To 2-Year Low As Price Corrects Below $2,000 ADA’s Awesome Oscillator displayed green histograms and this meant a change in price momentum. AO also depicted a buy signal as the green histograms were a sign of the same. Moving Average Convergence Divergence underwent a bullish crossover and flashed green histograms. Green histograms meant that over the upcoming trading sessions, the coin could attempt to rise on its charts. Suggested Reading | Cardano TVL Sheds $205 Million Since Hitting All-Time High

Cardano is among the cryptocurrencies with higher impacts due to significant price slides. Price volatility remains one of the substantial discouragement and threat of virtual currency. Their swing in price could go beyond ten times in a single minute. A positive price move is always a favorable trend for a token and its investors. However, a price drop could pose a danger for both. The general crypto markets have been witnessing more downward trend recently. This has left several tokens on an expected price level even as some investors make massive sell-offs. Cardano seems to have entered a state of instability following its critical price drop. Its slide on Thursday went below its possible support level. Without any rise in trading volume in the crypto market, Cardano will suffer more losses. Cardano is now fighting dangerously from its drop position as it’s beyond the supporting mark. Though it had a previous market cap ranking as the eighth cryptocurrency, the token had made a 7% drop in the last 8 hours. The price of Cardano has now fallen below its $0.50 support mark. Hence, its liquidation has raised more than $1.40 million from crypto derivatives exchanges. If the selling pressure increases, there would be a higher probability of more difficult restoration. Analytical Study Of Cardano For Support Level ADA’s last 4-hour price chart analysis depicts a release from a symmetrical triangle. Its Y-axis pattern for height represents a 33.5% drip for the token as its price falls below the support level. Using a candlestick close that could reflect the 4-hour trend would hit below the 50% level of Fibonacci retracement at $0.45. This will possibly bring the confirmation of the negative price trend. Where there’s a continuation of the pattern, ADA could maintain a downward trend that reaches $0.34 or $0.32. By closely observing its movement on May 12, the token moved to $0.38. This could eventually become its possible support level if it makes more downward moves. If there’s continuous trading of ADA below $0.46, the bears will benefit more. It’s possible to revert the negative appearance of the price drop for the token. This would require a break on the resistance barrier using a candlestick close for 4-hour experimentation. Also, cutting off some of the supply processes could spike ADA’s number of buying orders. Hence, the token’s price may reach $0.61 as it moves up. The crypto market now harbors many uncertainties, doubts, and fear within the past few weeks. The Fear and Greed Index report shows increased levels of negativity within investors and other participants in the crypto market. Following the technical and on-chain indicators, there could still be hope for Bitcoin. This is because the token is yet to get a fully blown negligence from participants. Featured image from Pexels, chart from TradingView.com

Cardano TVL has spiraled downward the past few days mainly because of the intensified crypto market correction and decline in investor interest.
To date, the crypto has plunged to $120.86 million. With the rate it’s going, Cardano has chucked over $205…

Cardano (ADA) prices show that the bulls are trying to overpower the market to diminish the bearish trend. ADA prices have been lingering steadily at $0.5, and a rejection strung at $0.628.
More so, there has been a marked price decline of 7% in the ma…