We are still in an uneven period for digital currencies despite the April 2 crypto bull run that saw the price of the major assets rise. Since that date, the volatility appears to be in effect as overall, prices have dropped and risen again. This isn’t an uncommon phenomenon. Investors and traders hope the next crypto bull run will usher in an era where price rises can be sustainable for stablecoins. However, the overall outlook for cryptocurrencies remains optimistic. Today we will see how Blockchain protocol Cardano (ADA) has faired via its year to date (YTD) chart.
Cardano (ADA) Price Today – ADA / USD
Cardano Price Prediction 2019: Cardano Went Down on Its Year to Date Charts
Cardano (ADA) is still number 9 in the list of the largest cryptocurrency by market capitalization. The digital asset latest dips occurred in November of this year when it went down on its YTD charts.
The recent crypto bull run ensured that Cardano was able to acquire positive returns as seen on its YTD charts. However, following the dip that continued for weeks leaving only a few days for rebounding on November 26th, ADA is down by 2.5% on its year to date chart. Cardano is still a promising Blockchain project in the market as a result of its unique technology. It has massive potential with the reports Coinbase listing in coming weeks and the scalability solution the network offers.
Cardano Price Prediction 2019: Cardano Long Term Forecast
In the event that Cardano enters Q2 of this year at $0.10, that is if the positive market trends come into play, ADA could trade as high as $0.50 per unit.
By the year 2020 Cardano should have implemented scalability solutions or officially become a third generation crypto. This could take its price at the beginning of January 2020 at $0.90.
Our price prediction also shows the least ADA price in 2020 as 0.9$ and its highest price above $5.
More enthusiastic Cardano price prediction 2019 are forecasting $33 for ADA in 2020. They expect that it will acquire stable growth and keep its value above the $30 position.
It is being considered, according to ADA’s price patterns and its future roadmap, that the digital asset may top in the year 2025 to set its lowest price at 15$ per ADA.
The highest price that Cardano could attain in this case would be $50. The reason for this is because ADA is expected to get close to EOS and Ether on the list of top ten virtual currencies.
Cardano Price Prediction 2019: Cardano is Likely to See More Gains in the Long Term
Considering the fact that Cardano is one of the most prominent projects in the crypto market ADA is likely to surge higher than fall short in the coming months.
Cardano much like Ethereum (ETH), is a smart contract-backed system that can run dApps). It is a layered system.
According to Cardano, the project claims to be the first digital currency on the scientific peer review. This ensures the safety of the time digital asset. As of the time this report was published, Cardano was trading at $0.084318. The digital asset is up by 2.41% with a market cap of $2,186,123,531
The Cardano loses the level of the 0.069861 dollars after falling a 0.63%
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.
Cardano (ADA) Price Could Correct Higher Before Fresh Dip
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.
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.
Cardano [ADA]: It is definitely not my responsibility to appreciate ADA’s value, says Charles Hoskinson
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,
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.”