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.
Battle Lines Drawn: Cardano And Tron Struggle For The 10th Spot On Market Rankings
There’s a war raging between two rival and popular cryptocurrencies on CoinMarketCap, and it’s interesting to see just how resilient these coins can be. The tug of war is between Cardano and Tron, both of which have been in the news lately.
Before the swords were drawn, Tron stood at position 10 while Cardano sat at position 11. However, it seems like Cardano is no longer interested in living outside the coveted top 10 membership. Tron, on the other hand, wants to keep its seat. That’s how the battle of the positions started.
ADA Grabs The Spot
Early on the 23rd March 2019 (Yesterday), Cardano woke up with its sword drawn, taking Tron by surprise. The consequent 8% bullish rally saw Cardano unseat Tron (TRX) from the 10th position to become the last member of the top 10 charts on CoinMarketCap’s list of the largest cryptos in the market.
TRX Snatches It Back
Despite putting up a strong defense for its new position, Cardano couldn’t hold the line for long as TRX came back with a vengeance, pushing ADA into retreat and reclaiming the position. It took a few hours of intense tug of war to arrive at that. During this time, Tron shot up by around 5%.
The events of the 23rd March are still obscure to some. One factor that contributed to the ADA surge is its recent release of the upgrade to the Cardano 1.5 on the Cardano mainnet. The release scores some good level of importance given that it marks the last upgrade within the development phase known as Cardano Byron.
At the moment, data from CoinMarketCap indicate that Tron has since knocked out Cardano from the 10th position, again. Cardano now sits at position 11 trading at around $0.060 and posting a market cap of about $1.564 billion. Tron, now at position 10, trades at around $0.023 and posts a market cap of about $1.573 billion. Whether it will maintain its position in the days to come remains to be seen.
Cardano Price Keeps Moving up Across the Board
When the Bitcoin momentum sours a bit, one has to wonder if the alternative markets will see bearish or bullish pressure. During the weekend, the momentum can easily swing either way for altcoins, tokens, or assets. As far as the Cardano price is concerned, there is still a lot of initial promise. Its most recent gains are also interesting to take note of at this time.
Cardano Price Momentum Continues
Traders who have kept a close eye on the altcoin markets in recent weeks may have noted some interesting trends are taking shape. While Cardano is not known for its major pump cycles or steep gains out of the blue, the market seems to be moving up slowly and surely. Even today, this is one of the few top 10 markets in the green, which further confirms the demand for ADA is not drying up just yet.
To put this in perspective, the Cardano price has gained another 4.3% in both USD and BTC alike. This brings the value to $0.061958 or 1,543 Satoshi. A lot of traders and speculators will be quite happy with this trend, although it is merely a continuation of what has been taking place nearly all week long. Combined with $127.22m in trading volume, it is evident there may be some further gains on the horizon for ADA. However, that will only happen if Bitcoin doesn’t lose more value than it already has.
One particular and peculiar trend in the Cardano ecosystem is how Charles Hoskinson likes to do many surprise AMAs through social media and YouTube. This most recent addition seemingly got a lot of valuable feedback once again, although some users have indicated they would like to see fewer videos and more actual work being done. As the Shelly release is just around the corner, it seems this surprise AMA came at the right time.
It's that time again https://t.co/BL2swJdlGE
— Charles Hoskinson (@IOHK_Charles) March 24, 2019
It would also appear a lot of traders are at a point where taking profit becomes rather straightforward. Wallstreet Income confirms they noted 219.2% profit with Cardano so far. Although pump signal groups should never be trusted or paid for by any means, it is a clear indication Cardano checks a lot of right boxes for traders and speculators alike. How high this price can go from this point onward, is very difficult to predict.
— Wallstreet Income (@wallstreetincom) March 24, 2019
It would also appear some people are getting better at predicting the Cardano value movements. While one always should conduct their own research and not blindly follow any price chart, it would appear one of these charts is bang on the money, for a change. He accurately predicted most market movements to a T, although there were some minor hiccups as well. That particular chart seems to indicate there is room for further gains, albeit not too many.
If you are looking for a good charter check this guy, never seen anyone predict price movement like @SatoshiWolf
— CryptoNerds! ® (@CryptoNerdsio) March 24, 2019
For the time being, there is nothing to overly concerned about when it comes to the current Cardano value. While there is room for some further gains, it seems there could be a fair bit of bearish pressure looming ahead as well. As long as ADA remains above $0.061, most traders and holders will be quite pleased with how things are going as of right now. Even so, a massive Bitcoin collapse- which plenty of traders still expect – could easily send this market in a downward spiral as well.
CARDANO Price Prediction: Long-term (ADA) Value Forecast – March 24
- The long-term outlook is in a bullish trend.
- A minor pull back may occur before the $0.07000 target is tested.
ADA/USD Long-term Trend –Bullish
Supply zone: $0.0700, $0.0900, $0.1100
Demand zone: $0.0100, $0.0080, $0.0060
ADA is in a bullish trend in its long-term outlook. The upper supply area of the range at $0.05200 was broken as the bulls increased their momentum to the upside on 19th March.
Three attempts were made at the upper price range before the breakout and subsequent retest for the market correction on 21st March. This confirms resumption of bullish continuation.
ADAUSD rose to $0.06595 in the supply area, the high ever since 16th November 2018.
The bullish pressure may be sustained within the new week but a minor pullback may occur with the bears creating a flag. This should be seen as a correction to the bullish impulsive move.
Price is above the two EMAs and the stochastic oscillator signal is pointing up 86%. These suggest an upward momentum of the cryptocurrency in the long-term.
$0.07000 in the supply area may be retested as the bullish momentum increased and more candles opened and closed above the two EMAs.
The views and opinion as expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.