It’s a slow start to the week for cryptocurrencies. The markets entered the weekend on news that the SEC was going after ICO influencers, and nothing much in terms of major positive news releases with regards to specific coins or the market in general.
This explains the relatively weak start to the week considering that overall momentum is still weak. However, these relatively uninspiring price movements are an opportunity for long-term investors to accumulate on coins that have good prospects for growth, such as Cardano (ADA). So, why Cardano (ADA)? Well, most projects in the top 10 are solid, but Cardano stands out due to its price at this point relative to its fundamentals and the scope of what it is aiming to achieve. It is one of the most undervalued projects in the top 10 at this point when priced at just over $0.04 from a high of over $1.
Quite understandable given that most projects are now being exposed as vaporware, just out to get rich off uninformed investors. Unfortunately, this increased pressure to prove adoption has forced many projects to seek low-value partnerships that may add no long-term value. Cardano is one of the few projects that hasn’t bowed down to such market pressure. That’s because the goal was long-term sustainability from the get-go, and all indications are that Cardano (ADA)’s partnerships once they come will not be with obscure entities. They will be transformative.
For instance, earlier this year, Cardano signed a memorandum of understanding with the Ethiopian government to drive up the use of Cardano in the country’s Agritech industry. It also has working relationships with a number of Asian and other African countries as well. This is just a pointer of how big Cardano intends to go. It doesn’t need PR partnerships just to pump up prices. Its partnerships will add real value in the world and by extension the value of Cardano (ADA).
With such powerful technical capabilities and potential for adoption by among others governments, Cardano comes across as heavily undervalued. As blockchain becomes more adopted in society, Cardano thanks to its strong fundamentals in the market, will be among the most adopted. With such strong fundamentals, Cardano is a solid hold for long-term investors. The moment bitcoin rebounds and the whole market enters a new bull phase, Cardano (ADA) will probably be among the biggest gainers in crypto sphere.
Bulls Honk the Horn for Cardano; Might Affect Intraday Trading
Cardano is trying to move upwards, but it looks like that it trades under bear pressure. In the coming time, ADA coin is anticipated to deal with significant momentum. The coin is dealing at the 1,166,766,151 USD Market Cap. The circulating supply of Cardano is at 25,927,070,538 ADA.
ADA to USD Price Comparison
Yesterday, Cardano opened at $0.04540457. ADA price dropped in the opening hours to $0.04501 by 0.86% drop. Further, it picked up the pace and recovered by 1.14%. Cardano price counters changed from $0.04499 to $0.04550. The day closed with another escalation of 1.33%. This time, ADA price shifted from $0.04520 to $0.04580. The intraday progression was of 0.88%. Today, the coin opened with a slight upsurge. Later, ADA price fell tremendously to $0.0450 from $0.0458 by 1.87%. Cardano has yet again started improving and it could take the price up.
Cardano Price Prediction
ADA price chart is indicating that coin is currently moving towards the recovery. Yesterday, the coin touched a high at $0.045795 and a low at $0.044963. The volume marked on September 13, 2019, was $38,257,028. However, today, the 24hr volume of Cardano is marked as $40,107,089.
The improvement in the ADA price has given us hope that there could be a slight possibility of an upsurge. The traders are speculated to book huge returns in the future. The year would end around $0.52 in Cardano. As per the current scenario, traders are recommended to diversify the investment in cryptocurrencies to deteriorate the risk.
Cardano Stands Tall by Adding 4.5% in One Day
- Cardano gains 4.5% in one day and reached $0.048.
- The next resistance is likely to come at $0.049.
Cardano has shocked the market with a 4.5% hike since yesterday. The current ADA price has again started racing against $0.050. Out of the four swings of the coin, there were gradual hikes.
Cardano Price Statistics-
|Cardano (ADA)||September 10, 04:54 UTC|
|ROI (Return on Investment)||121.50%|
|Coin Circulation||25,927,070,538 ADA|
|Market Cap||1,242,722,736 USD|
|Value in USD||0.048009 USD|
|Value in BTC||0.00000465 BTC|
|Yesterday’s Volume||64,445,050 USD|
ADA to USD Price Comparison-
Cardano price gets a blow in terms of its first swing between 00:27 UTC and 07:52 UTC, which took $0.001530 away from the value and placed the coin at $0.045259. This was followed by a hike of 4.35% between 07:52 UTC and 13:39 UTC, this swing added $0.001 to the coin. The third swing happened between 16:45 UTC and 22:46 UTC and this variation placed the coin at $0.046967 by 22:46 UTC. The last swing started at 00:03 UTC today and in the next 4 hours and 46 minutes, the coin added $0.0014 to reach $0.048116.
ADA Price Prediction-
ADA coin is gaining when all other major altcoins are struggling, this proves that Cardano is never prone to sudden fluctuations in the market. The coin may have resistance at $0.049 next. The details of the next resistance and support levels are given below.
|Cardano (ADA)||Support And Resistance Levels|
|1st Support Level||$0.045884333|
|2nd Support Level||$0.044837667|
|3rd Support Level||$0.044174333|
Cardano News Today
- Cardano ADA surged by 5.62% within 24 hours.
- Analyst suggests that the price of Cardano ADA may move higher in the coming weeks.
Cardano News Today – Cardano ADA, just like every other cryptocurrency in the market, has fallen significantly against the USD. At the beginning of the year, Cardano ADA enjoyed a bull run that took the price above the $0.1000 level. At the time, analysts said that the surge in price was due to anticipation regarding the Cardano Shelley upgrade. Cardano Shelley is the long-awaited upgrade that is going to make the Cardano blockchain 100 times more decentralized than Bitcoin. This is expected to be the last upgrade that will set the stage for Cardano to be a more ideal option than Ethereum.
Cardano ADA Rises By 5.62% Against The USD Over 24 Hours
Yesterday, the price of Cardano ADA increased by 5.62% during the day. It reached $0.047 for the first time in a while. The cryptocurrency analyst on International Cryptocoin claims that the price of Cardano will reach higher highs near-term. The analyst suggested that ADA will reach the $0.0517 level before the end of the week. Over the last 48 hours, Cardano has formed resistance at $0.04800 and support at $0.04423. The analyst also suggested that the highest price for ADA near-term is $0.08911. Reaching the $0.1000 now appears like a long-term goal.
Cardano (ADA) Price Today – ADA / USD
Last week, as reported by smartereum.com, the founder of Cardano, held an emergency AMA session where he tried to convince the Cardano community that the Cardano Shelley upgrade on the main net will hold as scheduled. However, members of the community were not satisfied because the price of Cardano ADA was falling significantly despite the buzz surrounding Cardano Shelley. Because the Cardano ADA token is down by more than 47.26% over the last 100 days, it’s not a surprise that the community is upset with the Cardano development team.
At the time of writing, the price of Cardano ADA was $0.046395. This means that it is down by 1.11% against the USD and up by 1.55% against the price of BTC. Yesterday’s bullish momentum could not be maintained because the price of Bitcoin fell yesterday, dragging the rest of the market, including Cardano, along. Right now, Cardano is following Bitcoin’s lead. If the price of Bitcoin can rise against the USD before the end of today, it will most likely carry Cardano and other altcoins along.