- ADA price is gaining pace above the $0.0620 resistance area against the US Dollar.
- The price recently broke the $0.0650 level and it could continue to rise in the near term.
- There is a major bullish trend line forming with support near $0.0610 on the 4-hours chart (data feed via Kraken).
- The price is likely to surpass the $0.0700 resistance and continue higher in the near term.
Cardano price is trading in a strong uptrend above $0.0600 against the US Dollar, similar to bitcoin. ADA price could soon test the $0.0800 resistance area.
Cardano Price Analysis
In the past few days, cardano price remained in a nice uptrend above $0.0550 against the US Dollar. The ADA/USD pair even climbed above the $0.0620 resistance and the 55 simple moving average (4-hours).
Finally, it broke the $0.0650 resistance and traded to a new 2020 high at $0.0656. It is currently rising and it might continue to rise towards $0.0700. If there is a downside correction, an initial support is near the $0.0640 level.
It represents the 23.6% Fibonacci retracement level of the recent upward move from the $0.0584 low to $0.0656 high. The main support on the downside is now near the $0.0620 level.
More importantly, there is a major bullish trend line forming with support near $0.0610 on the 4-hours chart. An intermediate support is near the 50% Fibonacci retracement level of the recent upward move from the $0.0584 low to $0.0656 high.
Therefore, if cardano price corrects lower, it is likely to find support near the $0.0620 and $0.0610 levels. Any further losses could lead the price towards the $0.0600 support.
On the upside, an initial resistance is near the $0.0680 level, followed by $0.0700. If the bulls able to gain strength above $0.0700, there are chances of a strong rise in the coming sessions.
The next target for the bulls may perhaps be near the $0.0800 level. Any further upsides could lead the price towards the all-important $0.1000 resistance area.
The chart indicates that ADA price is following a nice bullish path above the $0.0620 and $0.0610 support levels. On the upside, a clear break above the $0.0680 level might set the pace for a larger upward move.
4 hours MACD – The MACD for ADA/USD is now gaining momentum in the bullish zone.
4 hours RSI – The RSI for ADA/USD is currently well above the 60 level.
Key Support Levels – $0.0620 and $0.0610.
Key Resistance Levels – $0.0700 and $0.0800.
Cardano Latest News – Top Headline for Cardano ADA, February 18th, 2020
- Silicon Valley next Milestone for Cardano?
- IOHK Open A New Research Lab At Wyoming University
Cardano Latest Update – As declared by the CEO and Co-Founder of IOHK, Charles Hoskinson in a recent Ask Me Anything session, Hoskinson stated that Cardano could soon start looking into big tech hubs on the world, like Silicon Valley. Cardano Shelley – according to reports, there have been talks/meetings in regards to the same with Emurgo, Hoskinson added that the Cardano Shelley ecosystem will be perfect to commence its negotiation in the near term.
Hoskinson went thus: “When Goguen hits or shortly before Goguen, I think that is our time to go and really aggressively push things on Silicon Valley. Silicon Valley has a unique and lukewarm relationship with cryptocurrencies. They like building things, likes doing creative new things.”
Cardano Shelley – Hoskinson added that subsequent to the creation of Cardano’s ADA, they made their own platform which paved the way for a whole new area of venture which was established mainly in Silicon Valley. Cardano Shelley – Hoskinson believes it is quite important to have a big presence in this aspect of the world. He went thus:
“You need to teach people how to deploy solutions on our platform and the burden is upon us to have great developer experience and for that infrastructure to help developers get to their solutions.”
Cardano News Update – According to Hoskinson, after these targets are met, it is not going to be an easy task for the foundation to completely move to Silicon Valley. He also added that it won’t be an easy task either settling in anywhere in the world lie Tokyo or New York.
IOHK Open A New Research Lab At Wyoming University.
Cardano News Today – IOHK recently opened a research center at the University of Wyoming after realizing a $500,000 donation made wholly in ADA cryptocurrency. This announcement was made at the end of last week by IOHK that the new research and validation center would form part of the Universities Blockchain Research and Development Lab. Cardano staking – With this creation, it will help enhance IOHK academic approach to blockchain development.
According to the official statement by IOHK, the new center will feature a new Plutus development facility that will offer developers of blockchain with an applied lab for writing code in the smart contract language of Cardano. Cardano Staking – in addition, tools and resources will be utilized to experiment with new solutions.
Cardano (ADA) Price Today – ADA / USD
Cardano Staking – Also, there will be a design studio for a new hardware tool that will help validation and combating fake applications in the cryptocurrency. Hoskinson attended the ceremony that signified the opening of the research lab in Wyoming state.
Cardano News Today – Cardano ADA Loses Bullish Push After Days
- Cardano ADA’s price has slackened by 7.27% during the past 24 hours
- The price of Cardano may fall to the $0.057715 support area
- The Cardano ADA price has no support from the short-term daily MA’s
Cardano news Today – The price of ADA has been less impressive in the last 24 hours. This is after the market situation changed from bullish to bearish. The overall grim state of the digital asset market appears to have impacted the price movement of Cardano. In the past 24 hours pf trade, the digital currency has lost some ground. The price of Cardano has lost around 7.27%. Its value has slipped from the $0.064111 area to the $0.059445 position which was its price at press time. There is no imminent recovery movement going by the current trend. Let’s see how this issue with ADA happened.
Cardano (ADA) Price Today – ADA / USD
Cardano Price Prediction: ADA Opened Trade Today at $0.064111
The ADA coin opened trading for the day at the $0.064111 area. During the initial three hours plus, the price of ADA posted a 4.52% increase which took its price to $0.067006 which has now become the highest point for today since trade began. From this high price position, the price of Cardano started to trade downwards. It eventually fell to the $0.05669 area at 16:53 UTC. In the last 13 hours and 22 minutes before it completed 24 hours, ADA faced a steep fall which made it lose 15.39% in value before it moved down to the $0.056691 area. After ADA registered this steep movement, its next action was followed by a brief price recovery which added 11.02% to the coin’s value. The price position that the coin reached was at $0.062937. In the next two hours, the price of Cardano coin dropped by 5.29% falling to the $0.059621 area.
The Price of Cardano ADA is Trading at $0.059445 as of Press Time
Cardano News Today – The price of ADA at press time stands at $0.059445. This price point was the end product of a drop of 7.72% for the coin in the last 24 hours. The price of Cardano is now lagging behind its 50-day moving average at $0.060386 and its 20-day moving average of $0.060029 (indicating a 1.55% and 0.97% drop in value respectively). In the coming days, it appears ADA may still struggle as experts don’t see any good prospects for the coin. As per the ADA technical indicators, the coin’s price is set to cross the support position of $0.057715 in the coming hours. After which it will start trading further below. Investors should not expect any huge price recovery for ADA in the short-term.
Cardano Research Lab Opened At Wyoming University By IOHK
- Cardano has just established a research centre at the University of Wyoming after making a $500,000 donation made completely in ADA.
- With this, it will promote the companies academic approach to blockchain development and engineering.
The lead development firm for the Cardano blockchain has just established a research centre at the University of Wyoming after making a $500,000 donation made completely in ADA cryptocurrency. It was announced at the end of last week by IOHK that the new research and authentication centre would form part of the Universities Blockchain Research and Development Lab. With this, it will help further the companies academic approach to blockchain development.
The centre is going to feature a new Plutus development facility which will provide developers of blockchain with an applied lab for writing code in the smart contract language of Cardano. On top of this, tools and resources will be used to experiment with new solutions. Furthermore, there will be a design studio for a new hardware tool which will help authentication and fighting counterfeit apps in the cryptocurrency.
The CEO and founder of IOHK, Charles Hoskinson has explained all in a recent ask me anything session:
“This is a very applied laboratory, where instead of doing peer theory, we’re actually building real-life things and writing real software that will enter production very quickly.”
The founder went to the ceremony that marked the opening of the research lab in Wyoming state. The butterfly logo for IOHK is going to be added to the lab which will be at the very centre of the future work IOHK has with the livestock traceability platform, BeefChain.
On top of this, the collaboration with the University will see IOHK receive a $500,000 grant in ADA tokens which will help fund and develop projects into new blockchain applications. This includes things like traceability tools.