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Cardano [ADA]

Cardano [ADA] shoots up following blockchain integration and Ledger Wallet arrival

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Following its recent overtake of Bitcoin SV [BSV], the now eleventh largest coin in the market, Cardano [ADA], has once again been visited by the bulls. Cardano shot up by over 6 percent to become the highest gainer in the top-15 while the major coins are caught in sideways movement.

The price surge comes after the Cardano Foundation was included as one of the founding members of the International Association for Trusted Blockchain Application (INATBA), as confirmed via a press release from the Foundation. The INATBA aims to further the progress of blockchain technology and cryptocurrency adoption within Europe.

INATBA is a body of SMEs, policy-makers, regulators and civil-standard setting organizations. Cardano will be able to build dialogue with authorities with reference to the regulation surrounding blockchain and decentralized currency and push adoption.

Charles Hoskinson, the founder of the Cardano Foundation, further buoyed the ADA community by a March 14 tweet depicting the first Ledger hardware wallet with a Cardano logo. The wallet follows the early-February news of the ADA ecosystem integrating the Ledger wallet.

Source: Twitter

The February 2 tweet stated:

“We are thrilled to announce that we will be integrating Ledger hardware wallet in our Cardano ecosystem. This means users will be able to hold their Ada offline, through the convenient and highly secure means of cold storage.”

Source: Trading View

The coin’s price began rising from March 9. It increased from $0.042 by 14.28 percent to reach $0.048 in three days. After dropping down to $0.046, the coin saw another 7.82 percent rise in the next two days, pushing the coin just below the $0.05 mark which the coin briefly shot above in late-February and early-January. At press time, the coin has shot up by 5.82 percent.

Cardano has seen its valuation increase by over $200 million in the past week. On March 9, the coin’s market cap stood at $1.102 billion and surged by 16.87 percent to reach $1.28 billion. Currently, the market cap has slightly slipped to $1.27 billion.

Source .ambcrypto

Cardano [ADA]

Cardano (ADA) Price Analysis: Upsurge Could Continue Above $0.0530

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  • ADA price started a strong rise from the $0.0450 support area against the US Dollar.
  • The price is currently gaining momentum above $0.0500 and it could continue to rise in the near term.
  • There is a strong support forming near $0.0475 and a bullish trend line on the 4-hours chart (data feed via Kraken).
  • The price is likely to rally sharply if it breaks the $0.0525 and $0.0530 resistance levels.

Cardano price is gaining bullish momentum against the US Dollar and bitcoin. ADA price could continue to grind higher towards the $0.0530 and $0.0550 levels.

Cardano Price Analysis

Recently, cardano price formed a decent support base near the $0.0450 level against the US Dollar. As a result, the ADA/USD pair started a decent recovery and climbed above the $0.0465 and $0.0475 resistance levels. The recent rise was such that the price settled above the $0.0500 level and the 55 simple moving average (4-hours). Finally, it broke the $0.0510 level and tested the $0.0515 resistance level.

The recent high was formed near $0.0514 and the price is currently showing a lot of positive signs. An immediate support is near the $0.0500 level. Moreover, the 23.6% Fibonacci retracement level of the recent rise from the $0.0457 low to $0.0514 high is also near the $0.0500 level. If there is an extended downside correction, the price could test the $0.0475 support area.

An intermediate support is near the 50% Fibonacci retracement level of the recent rise from the $0.0457 low to $0.0514 high at $0.0486. However, it seems like there is a strong support forming near $0.0475 and a bullish trend line on the 4-hours chart. Therefore, the price remains well supported near the $0.0485 and $0.0475 levels if there is a downside correction.

On the upside, the main resistance is near the $0.0525 and $0.0530 levels. A successful break above the $0.0530 resistance could start a strong upward move towards the $0.0550 level. Any further gains may perhaps push the price towards the $0.0600 resistance area in the coming sessions.

Cardano Price Analysis ADA Chart

The chart indicates that ADA price is gaining momentum above $0.0500 and it could continue to rise in the near term. However, the bulls might struggle to push the price above the $0.0525 and $0.0530 resistance levels. If they succeed, it could start another strong rise towards the $0.0600 level. On the downside, there are many supports near $0.0485 and $0.0475.

Technical Indicators

4 hours MACD – The MACD for ADA/USD is currently gaining pace in the bullish zone.

4 hours RSI – The RSI for ADA/USD is currently climbing higher and is approaching the overbought zone.

Key Support Levels – $0.0485 and $0.0475.

Key Resistance Levels – $0.0525 and $0.0530.

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Cardano [ADA]

Cardano Fails to Retain its Fort; May Seek the Support at $0.045 Soon

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  • Cardano loses 0.5% in the last 24 hours.
  • The next support for Cardano may come at 0.045 USD.

Cardano could not stand the heavy pressure exerted from the market and lost almost half a percent in the last one day. It is now roaming around 0.047 USD. The three price swings of Cardano had a trading range between 0.047 USD and 0.045 USD.

ADA to USD Price Analysis:

Cardano Price
Cardano Chart By TradingView

Cardano’s first swing started around 01:54 UTC and in the next 11 hours and 9 minutes, it lost 4.31% and got placed at 0.045663 USD, the lowest of the day. Later, it got strengthened by 3.96% and made it to trade around 0.0474666 USD by 21:38 UTC. Later it started falling towards the closing of the day. Between 21:38 UTC and 04:58 UTC, it cut 1.04% to touch 0.046973 USD. This fall had a break at 0.046882 USD.

Cardano Price Prediction:

Cardano has started the price correction process like all other coins and in the next few days, it may have to suffer more. The next support may come at 0.045 USD. However, the medium-term of Cardano is likely to be bullish.

Cardano (ADA)Resistance & Support Levels
1st Resistance$0.047
2nd Resistance$0.048
3rd Resistance$0.049
1st Support Level$0.046
2nd Support Level$0.045
3rd Support Level$0.044

Source.cryptonewsz

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Cardano [ADA]

Cardano (ADA) Price Approaches Key Technical Resistance as Bulls Try to Take Over

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Technically, the 11th most significant cryptocurrency is signaling to go down shortly.

  • Cardano’s price is rising to a crucial resistance level at $0.049 and at the same time approaching the upper boundary of the channel
  • The ADA/USD pair may go bearish if the $0.0433 level could no longer hold as critical technical support for the market

The 11th largest cryptocurrency by market cap, Cardano’s price is currently up by +1.27% in the last few hours of trading, although the market saw a slight drop of about 0.27% yesterday.

Lifting from $0.043 area on August 29, Cardano (ADA) had recorded a monthly high at $0.048. The price movement is now caught in a channel pattern on the 4-hour time frame. If Bitcoin remains in a consolidation mode for a while, we can expect the bullish trend to continue in a short-term.

Cardano’s Current Statistics

Trading Price: $0.047

Market Capitalization: $1,227,905,045

Trading Volume: $43,232,624

Key resistance levels: $0.0471, $0.048, $0.049

Key support levels: $0.0462, $0.045, $0.0444

Cardano (ADA) Price Prediction for September 16, 2019

Cardano is following a short-term bullish trend, making the price to trade around $0.47 at the moment. Now, it appears that the market is about attempting a pullback, although the buyers are still gaining control of the market. We can expect the market to sell to close supports at $0.0462, $0.045, and $0.0444 if a pullback occurs.

Cardano ADA technical price analysis chart
ADA/USD, 4H Price Chart – September 16, 2019

If the mentioned supports fail to play out, Cardano will continue to climb back to$0.0471, $0.048 and $0.049 resistance. But as it is now, the bears appeared to be looking for lower price levels. Considering long-term outlook for this market, ADA/USD is still reflecting a dominant bearish bias.

Conclusively

As we can see, Cardano (ADA) is trading inside a channel pattern, which suggests a bullish trend. But the pattern formation is mostly followed by a bearish breakout. If the breakout occurs, the ADA/USD pair will continue its long-term bearish move.

Technical Indicator Reading

The RSI for Cardano is showing a bullish moment after crossing up the 50 level, which means the buyers are still active in the market.

The Stochastic is conversely bullish but hovering around the upper limit for the past two days. This shows that the bulls are getting weak as the price may fall shortly.

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