Chart for ADA/USD (1W)
Cardano (ADA) is the cryptocurrency with the highest probability of being listed next on Coinbase. Cardano (ADA), which is supported by IOHK, is the firm run by Charles Hoskinson, the founder of Cardano (ADA). They are known for their low key style. They focus more on development and less on marketing. Recently, IOHK along with ETC Dev succeeded in getting Ethereum Classic (ETC) on Coinbase. That listing did surprise a lot of people when Ripple (XRP) was bypassed. However, the fact of the matter is that Coinbase has grown too big to toy around. They are only listing projects that have long term potential. Cardano (ADA) is one of those projects.
The above chart for ADA/USD on the weekly time frame shows Cardano (ADA) in a strong downtrend. The price has failed to breach the downtrend yet. The current weekly candle lies right next to the downtrend line but it has failed to break above it thus far. However, the lower the ADA/USD falls, the easier it gets for Cardano (ADA) to break the downtrend resistance. If Cardano (ADA) breaks this downtrend, there is little doubt that it will break past $1 in a matter of weeks. Cardano (ADA) is one of those projects that are increasingly seeing institutional interest. The price had an extensive correction and is now ready for a trend reversal. RSI on the above chart seems to have bottomed out. Weiss wave volume profile on the above chart shows that the bearish momentum is lost.
Chart for ADA/BTC (1W)
Cardano (ADA) is considered an overvalued and overhyped project according to its critics. This is mainly because there are not a lot of tangible features to see. Most investors like to think of platform coins in terms of the number of Dapps that have been built on them or its market cap. So far, the interest in Cardano (ADA) from retail investors seems mainly due to its market cap. They believe it’s a top ten coin with a lot of room for growth. However, not many of them endeavor to actually understand the tech behind this wonderful project. After Eos (EOS), Cardano (ADA) seems to be the top ten coins with the most satisfied investors.
Cardano (ADA) is one of the few top ten coins that have already broken its downtrend against Bitcoin (BTC). The current weekly candle on the ADA/BTC weekly chart above has already opened above the downtrend resistance and is expected to close above it. The volume for ADA/BTC has been on a steady decline but buyers are rushing in as the market recovers. We have seen a growing number of institutional investors and family offices show a strong interest in top ten coins. This is not just due to their stability, low risk or high liquidity. In fact, we have seen top ten coins like Tron (TRX) being completely ignored by institutional investors despite having the above qualities. Cardano (ADA) on the other hand has seen interest mainly because of its tech and long term potential.
Cardano (ADA) is more than 1 year old! – Long Term ADA/USD Price Prediction – News Today – Fri Dec 14
Although there are many coins in the crypto coin industry, the good ones are mostly those who constantly announce their names. In 2017, Cardano was launched in Tokyo. Since then, ADA, Cardano’s crypto currency, has been one of the world’s top 10 crypto currencies.
Since October 1st, ADA trading has been made. One of the founders of the ADA was Charles Hoskinson, he is also one of the founders of Ethereum. He left the Ethereum (ETH) after the DAO hacking incident.
Although ADA has been traded for a year, many of Cardano’s functions are not working yet. Therefore, Cardano can run Smart Contracts, but so far this is only possible in the test network.
There is a lot of research around technologies, so Cardano works in many universities. Cardano is often referred to as a scientific research project. Unlike Bitcoin and Ethereum, Cardano is not based on the proof-of-work algorithm, because the others requires energy-intensive mining. Instead, Cardano relies on Proof-of-Stake, a system to which Ethereum also wants to switch.
Since the founding of Cardano, more than 150 people have been working on the project. It has been also long listed on many of the leading market platforms such as ADA, Binance, Bittrex, eToro and BitMEX.
Therefore, anyone who wants to trade with ADA has the opportunity to do so on these platforms. From the outside, the development of Cardano is progressing very slowly.
Cardano is on the top 10 without a serious product, but when the assumed potential becomes a real value, those who remain patient with this coin will certainly be rewarded.
While the highest level of all time is above US $1, it is currently worth much less. Therefore, if Cardano continues to advance its development correctly and continues to implement everything in the roadmap on time, there is still a lot of potential.
The Current Price of Cardano
In the day following the posting the cost of the coin bounced by 11 percent as of the season of composing. The market top of ADA likewise expanded to $2.276 billion.z
The 11 percent gain represents a four-day high for the altcoin, which has gained some momentum throughout the week. Binance is converting most of ADA’s trade volume to $ 32.624 million with 27.26%. Upbit is closely following $ 30.607 million per second.
What’s more, Cardano management announced the launch of IELE (Cardano Virtual Machine), which allows Cardano customers to easily develop with the Cardano blockchain.
Internet Online Hong Kong (IOHK) and the Cardano Foundation are said to be on the verge of inventing a widely accepted ADA payment system, and that it is nothing more than a solution to some of the most challenging in the blockchain world.
Could Cardano Reach $.50 In 2019?
According to the latest trends in the crypto market, almost every digital currency is gaining value, some are high, while others seem to be warming up for bulls in the near market. Regarding the above table, on September 21, 2018, ADA increased by 12% within 24 hours. This trend increased the currency’s value on the weekly chart by 19%.
When you look closely at the periodic ADA charts, especially in the previous quarter of 2017, you will see that last year’s ADA is around $ 0.020.
Cardano continues its progress on the technical roadmap in the bear market and its application to daily use cases. This is a good thing, and when we see a complete market improvement, it should support the price of the coin.
ADA/USD Long-Term Price Analysis
⦁ Supply zone: $0.1600, $0.1800, $0.2000
⦁ Demand zone: $0.0600, $0.0300, $0.0001
ADA long term standpoint is a bullish pattern. The stochastic oscillator is at 74% . It’s signal points up.
This event shows that an upward price movement of the cryptocurrency as the bullish pressure becomes stronger in the long-term.
Here is the long term, medium-term and short term outlook of the ADA/USD pair:
⦁ Long Term – bullish
⦁ Mid-term – bearish
⦁ Short term – bearish
If we find that Bitcoin is recovering and returning to levels above $ 10,000, we must bring Cardano back to the levels it considers to be 2 to 4x rebate and move towards a year-end price of $ 0.15 to $3. The latter looks like a high possible option.
Bullish case for Cardano: ADA aims to set new standards in the industry
Forecasts are well underway in the cryptosphere about digital currencies to follow in 2019. Should you consider buying Cardano? According to the founder of cryptocurrency, the future of the digital currency Cardano (ADA) is very promising. So, do we believe it?
Cardano time yet to come
Cardano is like the ugly duckling of cryptocurrencies. Little known, misunderstood, the Cardano environment has everything to captivate with high-performance technology and a determination to excel. Ouroboros, Cardano’s secure proof-of-stake algorithm, surprisingly, may well become a benchmark in the future.
Indeed, at the moment, there is still a great deal of confusion. The message conveyed by many is limited to: blockchain technology means technology that is tamper-proof and impossible to manipulate. Nothing could be further from the truth. Many questions have already been raised about the concentration of decision-making power within certain networks.
Cardano is therefore taking its time to offer all the guarantees in terms of decentralization and governance. This commitment to excellence could pay off in the long term if this vision is embraced by the public.
Charles Hoskinson, the enthusiast
The iconic founder of Cardano is more than ever a prophet in his home. After several developments that prompted the President of the Cardano Foundation to resign, the governance of cryptocurrency seems to be in working order with the Charles Hoskinson tandem at IOHK and Ken Kodama at Emurgo.
On December 7, Charles Hoskinson was excited about Cardano’s promising future and the upcoming release of version 1.4 of the mainnet (the main network) which is already in the test phase. This update will be, according to Hoskinson, the most significant to date. The man had indeed answered a series of questions about it on YouTube in November 2018.
Progress is also being made in the development of the Ouroboros algorithm to ensure protection against so-called adaptive attacks as opposed to static attacks. The main goal remains of course an optimal protection of the algorithm in order to preserve its invulnerability.
Cardano an undervalued digital currency?
On December 13, the Cardano’s price was $0.030. Apart from a brief rebound in early May 2018, the year was marked by a steady decline in the price. Buying Cardano should rather be considered as a long-term investment.
Indeed, even if the market were to recover unexpectedly, Cardano would still have to wait until it was fully operational. According to the timeline provided by the Cardano Foundation, the Byron phase is almost complete and we are now entering the Shelley era, which is only the second phase of a 5-step structured plan. There is still a long way to go, but this is not necessarily a bad sign.
ADA, a good option to diversify your crypto portfolio?
Besides the classics such as BTC and ETH, ADA is certainly an option to consider if you want to buy crypto and build a balanced portfolio. Currently in eleventh place in the crypto market, it was recently pushed out of the top 10 by Tron (TRX), which has some similarities with Cardano.
Even if betting on Cardano would seem very risky, keeping an eye on the altcoin and devoting a reasonable percentage of one’ s portfolio to it seems to us to be an interesting option. Although the Cardano community does not seem to be overly concerned about short-term profitability prospects, it keeps its eyes focused on the future and the ambitious goals it has set for itself.
At the time of writing, PlutusFest 2018 was underway in Edinburgh and will certainly bring good news and new projects. At the heart of this event, Plutus is the programming environment for Cardano and smart contracts. It is difficult to say whether a standard will be required in the coming years for this new type of obligation or whether, as in the current law, different environments will coexist. The outsider Cardano, known for his rigour, could well become a real standard in the future law of self-executing contracts.
New Cardano(ADA) smart contracts is what fintech needs-says Cardano founder Charles Hoskinson
- The two smart contracts tools are designed for startups and fintech industries.
- Cardano is the 11th largest crypto with a market capitalization of $784 million.
The scientific research backed crypto, Cardano has announced the release of two smart contracts tools. The tools have been developed by one of the leading blockchain research organization, IOHK. The applications, Plutus and Marlowe; details of which can be found here are meant to help startups, financial services providers, academia as well as fintech firms have access to blockchain smart contracts and applications.
The founder of Cardano, Charles Hoskinson while speaking with CCN, explained how important the tools are vital for fintech industry.
“As an example: The escrow mechanism allows Party 1 to deposit the money into a contract, in a way that the money will only be released when two out of three participants agree on whether Party 2 has indeed given Party 1 the item. The escrow participant (Party 3) is supposed to be a neutral third party that decides in case of dispute. This way if Party 1 and Party 2 are honest, they will just agree on the result of the transaction and Party 3 will not need to do anything. If Party 1 and Party 2 disagree, Party 3 will be able to choose whether the money must go to Party 1 or to Party 2.”
Cardano is trading at $0.03025 at the time of writing. It has a 24-hour trading volume $10 billion and a market cap of $784 million. ADA is currently ranked as the 11th largest cryptocurrency in the market as the data on CoinMarketCap.