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Cardano [ADA]

CARDANO Price Prediction: Long-term (ADA) Value Forecast – March 24

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  • 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.

Source:bitcoinexchangeguide

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Cardano [ADA]

The Cardano loses the level of the 0.069861 dollars after falling a 0.63%

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Investing.com – Cardano lost today the level of $ 0.069861, trading at 0.069861 at 00:04 (22:04 GMT) on the Investing.com Index, which represents a daily fall of 0.63 %. It is the highest percentage depreciation in a day since last April 25. This downward movement reduces the capitalization of the Cardano to $ 1.90838B, or 1.08% with respect to the total market capitalization of all the cryptocurrencies. The maximum level reached by the Cardano was at $ 23,91700B. During the previous 24 hours, the Cardano has been moving in a range between $ 0.069861 and $ 0.075615. In the last week, the Cardano lost 9.78%. The negotiated volume of the Cardano in the 24 hours prior to its current quotation was $ 81.93517M, or 0.18% of the total volume for the set of cryptocurrencies. It moved during the past week in a range between $ 0.0678 and $ 0.0813. In its current price, the Cardano shows a difference of 94.83% with respect to the annual maximums that marked the $ 1.35 on January 4, 2018. Evolution of other cryptocurrencies of interest The Bitcoin has marked its latest movement today in the $ 5,250.7 on the Investing.com Index, which represents a fall of 2.87%. The Ethereum, for its part, is trading at $ 155.51 on the Investing.com Index, which represents a loss of 4.91%. At present, the market capitalization of Bitcoin is at $ 96,52839B, or 54.56% over the total capitalization of all the cryptocurrencies, while that of the Ethereum is at $ 17,28227B, or 9 , 77% with respect to the rest of the market value of the sector.

Source.fxstreet

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Cardano [ADA]

Cardano (ADA) Price Could Correct Higher Before Fresh Dip

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ADA price declined heavily after it failed to break the $0.0800 resistance against the US Dollar.
The price declined sharply and broke the $0.0750 and $0.0720 support levels.
There is a key connecting bearish trend line in place with resistance at $0.0765 on the 4-hours chart (data feed via Kraken).
The price could correct higher, but the $0.0750 and $0.0765 levels are likely to cap upsides.
Cardano price declined heavily below key supports against the US Dollar and bitcoin. ADA is currently trading near $0.0700 and it could correct higher towards $0.0750 in the near term.

Cardano Price Analysis
This past week, there was a sharp dip in cardano price below the $0.0800 support against the US Dollar. The ADA/USD pair declined below the $0.0750 and $0.0720 support levels. It tested the $0.0700 support area and recently rebounded above $0.0750. However, the same $0.0800 level acted as a strong resistance along with the 55 simple moving average (4-hours). As a result, there was a fresh decline below $0.0750 and $0.0720 support levels.

The price recently retest the $0.0700 support level and traded as low as $0.0706. It is currently trading with a bearish bias, but there could be a short term correction above $0.0720. An initial resistance is near the $0.0730 level and the 23.6% Fibonacci retracement level of the recent drop from the $0.0801 high to $0.0706 low. The next key resistance is near the $0.0750 and $0.0755 levels. The 50% Fibonacci retracement level of the recent drop from the $0.0801 high to $0.0706 low is also near the $0.0750 level.

Besides, there is a key connecting bearish trend line in place with resistance at $0.0765 on the 4-hours chart. Therefore, if the price corrects higher, the $0.0750 and $0.765 levels are likely to act as strong resistances in the near term. On the downside, the main support is at $0.0700. If there is a downside break, the price could accelerate losses towards the $0.0680 and $0.0665 levels.

The chart indicates that ADA price is clearly trading in a downtrend below the $0.0800 pivot level and the 55 simple moving average (4-hours). As long as the price is below $0.0800, any recovery is likely to face sellers near $0.0750 or $0.0765. On the downside, the price may test the $0.0680 level before starting a substantial rebound in the coming days.

Technical Indicators
4 hours MACD – The MACD for ADA/USD is gaining momentum in the bearish zone, with no positive signs.

4 hours RSI – The RSI for ADA/USD is now well below the 40 level and it might decline towards the 25 level.

Key Support Levels – $0.0700 and $0.0680.

Key Resistance Levels – $0.0750 and $0.0765.

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Cardano [ADA]

Cardano [ADA]: It is definitely not my responsibility to appreciate ADA’s value, says Charles Hoskinson

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Cardano’s [ADA] Charles Hoskinson has been one of the most active proponents of crypto in the cryptospace, making sure the organization’s agendas are known to the entire community. In a recent video uploaded by the IOHK Chief Executive Officer, Hoskinson explained the company’s future roadmap and addressed the FUDs about Cardano, floating around in the space.

The computer scientist clarified off the bat that users should not compare the user interface and user experience of cryptocurrency companies to bigwigs like Microsoft, Google and Amazon as the latter are too far ahead in terms of development. He emphatically stated that it is not a game of user experience, rather is a game of philosophies. Hoskinson frankly admitted that, “Cardano cannot be everything to everyone.” He added,

“With the amount of work we are putting into the software and the network, Cardano has become a very stable wallet now. To build the platform, we had to consider several factors like cryptography, game theory and byzantine actors. Some people claim that the delays in the release of the Shelley testnet is making money but it’s actually the opposite. I am losing money with every single delay, a cost that the company as well as I am willing to bear.”

Hoskinson went on to state that IOHK did not take any technology from anyone else and ensured that they built all original products. He also addressed the persistent rumor suggesting that IOHK has to write new code for the implementation of Shelley. To this, he responded,“Since September of last year, we have had engineers working on making the Shelley testnet the best version of itself. That work will only be considered as done when there is a reasonable wallet structure and when all the bugs are solved. Many users keep asking us to give a date for the testnet release and I am saying right now that will be done when it is time. Many who are asking do not even know what a testnet is and are asking simply for the sake of stirring up the ecosystem.”

The IOHK CEO also compared companies like Microsoft and Boeing to IOHK, in terms of product delays. He took the example of Microsoft delaying the Vista launch and Boeing having problems with their flagship Boeing 787 Dreamliner, stating,“There will always be delays and so it is not my responsibility to appreciate the value of ADA.”

Source:ambcrypto

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