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You are here: Home / Archives for Cardano (ADA)

Cardano (ADA)

Cardano [ADA] Targets $0.37 As Momentum Rests With The Buyers

January 15, 2021 by Chayanika Deka

Cardano’s [ADA] price sustained a significant setback after the market-wide meltdown. Following which its price started moving sideways. However, the dull market movement reversed and it underwent a price recovery shortly thereafter. Buyers shunned the negative market trend triggering Cardano to enter a consolidation channel thus helping its price to minimize the weekly losses to a little over 3%.

The shift in momentum was a relief for the ecosystem which depicted renewed buying pressure. Meanwhile, ADA was trading at $0.313 after accruing more than 8.6% in gains over the last 24-hours. In addition, the crypto-asset registered a market cap of $9.77 billion and a 24-hour trading volume of $2.48 billion, at the time of writing.

Will ADA bulls propel a much-anticipated upswing and help the token topple its nearest ceiling?

Cardano [ADA] Daily Chart:

ADA1 1

Cardano’s [ADA] relief rally aimed for the recently established multi-year high while anticipating cues for a definitive movement from the wider crypto market. The placement of the moving averages does not suggest any bearish flip.

The 50 DMA [Pink] continued to mimick ADA’s price action while maintaining a steady divergence with the 200 DMA [Blue] as both formed crucial support points for the candlestick arrangement.

download

The MACD was quite optimistic as continued the bullish journey for two straight weeks above the zero-line showing. The indicator could essentially prompt the buyers in pushing the price north.

The Stochastic RSI also eased the selling pressure as it appeared to undergo a bullish crossover. Moreover, despite the weekend fall, the RSI has continued to hold its fort above the 50-median line which was further indicative of significant buyer demand in the market.

Hence, what remains to be seen, is the impact that the ongoing buying pressure could have on Cardano’s price, and whether the price can break above the present resistance level and help push the altcoin’s price up the charts. ADA was capped at an overhead resistance of $0.332. If it manages to breach this level, the crypto-asset could climb all the way to $0.37, a level last seen in May 2018.

The support levels for the coin stood firm at $0.275 and $0.24 respectively.

Filed Under: Altcoin News, News Tagged With: Cardano (ADA)

Cardano [ADA] Bags In Profits Up To 80% Throughout The Week; Bulls Continue To Reign The ADA Market

January 10, 2021 by Sahana Kiran

The crypto market was painted in green, with XRP as an exception. Cardano [ADA] made maximum profits over the last week. Bitcoin [BTC] was surging past $40K with a market cap of $753.84 billion. Ethereum [ETH] was trying hard to push past $1.3K to overpass its previous all-time high. Stellar was, however, seen retracing after surging over 130% in the last seven days. XRP was still tussling within $0.32. Despite soaring by over 44% in the past week, XRP failed to cross $0.35.

Cardano [ADA] continued residing as the sixth-largest cryptocurrency with a market cap of $9.63 billion. At the time of writing, the coin was priced at $0.311 with dainty gains. The altcoin had surged beyond 80% in the last seven days. 

Cardano [ADA] One-Day Price Chart

Cardano

In the one-day price chart of Cardano [ADA], the bulls were seen reigning. Even though the coin surged by over 80% this week, the asset failed to go beyond $0.5. The Parabolic SAR indicator affirmed the presence of bulls. The indicator put down lines below the candlesticks which resisted the chances of a downward breakout. The indicator maintained this trend since the end of December 2020.

The MACD indicator also revealed that the bulls were going to hibernate in the ADA market for longer. The MACD line had taken over the signal line way back in December and has continued to do so. The huge disparity between the two affirmed that a bearish crossover wasn’t in the cards anytime soon.

Cardano [ADA] Has Bulls Grazing In Its Market

Cardano

The Awesome Oscillator indicator affirmed that the bulls were here to stay as it formed big bold green closing lines. The Relative Strength Index [RSI] indicator was exhibiting a buyers’ sentiment as the RSI marker was way over 50 median in the overbought zone.

While Cardano has been trying hard to $1, the continuous presence of the bulls in its market could take the altcoin way beyond that.

Filed Under: Altcoin News, Market Analysis, News Tagged With: Cardano (ADA)

Could Cardano [ADA] Hit $1 Before XRP?

January 6, 2021 by Sahana Kiran

The market value of cryptocurrencies seems to be rising without a hurdle. Cardano [ADA], Bitcoin [BTC], Ethereum [ETH], and an array of assets were seen elevating the entire crypto market cap. At the time of writing, the global crypto market cap was at $932.56 billion with a 9.13% daily increase. It was evident that the crypto-verse was on an uphill journey with $1 trillion as its next stop. Bitcoin advanced the bull run by hitting a high of $35K. Cardano [ADA], as well as Stellar [XLM], were undoubtedly the star of today’s show as both these assets were consolidating double-digit surges.

Over the course of 2020, Cardano had fallen down multiple times in terms of market cap. However, the asset seems to have found a comfortable spot as the sixth largest cryptocurrency. During press time, ADA’s market cap was at $8.67 billion. The altcoin was priced at $0.2780 with a 19.20% rise over the last 24-hours. The last seven days helped ADA bag gains of 53.04%.

Cardano [ADA] Short Term Price Chart

Cardano

The one-hour price chart of Cardano revealed that the altcoin was in for a trek up ahead. The Bollinger Bands indicator suggested that ADA was prepping for an increase in volatility. The bands were seen wide apart which further indicated an improvement in volatility. The daily moving average revealed that the increased volatility would be beneficial for the altcoin. The 50 daily moving average [Blue] was seen over the 100 daily moving average [Red] forming a bullish crossover.

Furthermore, the volume in the ADA market was quite high during the time of writing.

XRP Short Term Price Chart

Cardano

The ongoing SEC lawsuit against Ripple has caused hefty damage to XRP. The asset depreciated immensely over the last few days in terms of price and market cap. The Bollinger Bands indicator in XRP’s one-hour price chart affirmed that the altcoin would not endure any sudden drops for a while as the bands were diverging which indicated low volatility. The 50 daily moving average [Blue] and the 100 daily moving average [Red] were above the candlesticks which further suggested the presence of bears in the XRP market.

Additionally, the trading volume of XRP was quite low which is understandable considering the delisting of the asset from several exchanges.

Filed Under: Market Analysis, Altcoin News, News Tagged With: Cardano (ADA), Ripple (XRP)

Cardano Breaks $0.230 Hurdle; Eyes To Break More Multi-Year Highs

January 6, 2021 by Chayanika Deka

Cardano [ADA] has been on an impressive rally, surging more than 22% over the week. The 8th-largest coin started trading in a sideways range following conflicting market momentum as Bitcoin and altcoins sustained downside move. However, after undergoing a rebound, ADA/USD pair restarted a fresh uptrend which aided in breach of several crucial resistances along the way. This strong surge opened the doors for more upsides for the coin in the coming days.

Over the past 24-hours, ADA was up by 11.49% which drove its price to $0.230. At the time of writing, the crypto-asset registered a market cap of $7.11 billion and a 24-hour trading volume of $3.27 billion.

Cardano [ADA] Daily Chart:

ADA

Cardano [ADA] formed a bearish ascending channel pattern on the daily chart. As per convention, an ascending channel concludes with a bearish breakout, and hence a minor correction was predicted. However, ADA defied this trend, underwent a reversal, and broke above.

The moving averages continued to form crucial support for the coin. Furthermore, the rising gauge between the 50 DMA [Pink] and the 200 DMA [Blue] exhibited a bullish outlook for Cardano.

Despite the positive turnaround, will ADA bulls be able to sustain higher levels?

ADA1

Following the latest price movement to the positive side, the Bollinger Bands diverged which depicted a period of high volatility in the coin market. The MACD generated a very strong buy signal as it formed a bullish crossover above zero. This trend into the bullish territory was further indicative that Cardano was primed for more gains in the near-term.

The RSI was also heading towards the overbought zone. This essentially signaled a high buying pressure among the investors in the ADA market and there was still time for a peak to materialize.

The above charts noted that Cardano could potentially breach more upside levels before the volatility fades. In which case, the target points for the coin stood at $0.277, $0.309, and $357 respectively.

However, if the bears battle it out for supremacy, ADA could fall close to the levels well supported by the 50 DMA at $0.158 and the 200 DMA at $0.121.

Filed Under: Altcoin News, News Tagged With: Cardano (ADA)

Cardano Rallies By 20% As It Joins Bitcoin, Ethereum With IOHK’s Crucial Partnership

December 30, 2020 by Reena Shaw

Looking back at 2020, Cardano [ADA] can be heralded as one of the most promising altcoin projects. This year has significantly helped shape the network into a future-proof, third-generation blockchain.

More recently, Cardano has posted an impressive rally over the week as it catapulted gains of nearly 20%. The eight-largest crypto-asset changed hands at $0.181, at the time of writing.

Interestingly, ADA had previously struggled to push above the $0.16-level, however, over the past 7-days, this trend has reversed noticeably.  ADA witnessed a fresh upward momentum as it eyed to breach $0.2 while recording a multi-year high.

ADA 1 e1609318465157

The latest boost to the cryptocurrency coincided with a partnership. IOHK, which is the company behind Cardano,  recently announced its partnership with Wolfram Blockchain Labs to integrate the Cardano blockchain into Wolfram Alpha.

As a part of this deal, Cardano data would be integrated into the Wolfram Alpha computational intelligence engine. According to reports, Wolfram earlier integrated with Bitcoin and Ethereum blockchains, as well as the ARK blockchain framework and Bloxberg. The official blog post also revealed that the IOHK team was currently defining a scope of work that would utilize Wolfram Alpha to offer Oracle services for Cardano.

Oracles are touted as a crucial component to drive smart contracts since they enable data to be transported from a variety of sources into the blockchain. The latest news has been claimed to be a ” landmark moment for IOHK” as it would give help expand Cardano’s ability to provide ways for developers to integrate advanced external information into their smart contacts.

Further explaining what the latest integration with Wolfram Alpha means and how working with the engine behind Siri is a big step for the blockchain, IOHK stated,

“This makes Cardano’s information available to virtual assistants like Alexa and Siri. Once integrated, users will be able to query the system to find information or solve computational problems as easily as asking their virtual assistant. We anticipate the initial phases of integration with Wolfram will occur Q2/Q3 of next year”

Notably, this is not the first tryst of IOHK with Wolfram. The two platforms have historically enjoyed close ties. The Founder and CEO of Wolfram Research, Stephen Wolfram had previously presented at Cardano2020 as well as at the IOHK Miami 2019 summit.

Filed Under: Altcoin News, News Tagged With: Cardano (ADA), IOHK

Cardano [ADA] Experiences Rising Buy Pressure As It Trades Close to $0.18

December 28, 2020 by Reena Shaw

Cardano [ADA] was one of the fastest-growing altcoins of the year, especially after the much-anticipated Shelley update. It witnessed a roller-coaster ride after Bitcoin’s route to new highs, which in turn, made ADA, the 8th largest crypto in the world in just a matter of less than a week after climbing from the 10th position of the crypto ladder. Furthermore, it projected gains of more than 412% year-to-date [YTD].

Over the past 24-hours, Cardano [ADA] witnessed a surge of 7.00% pushing the price of the coin to $0.167. At the of writing, the token registered a market cap of $5.22 billion and a 24-hour trading volume of $1.83 billion.

Cardano [ADA] Daily Chart:

ADA e1609159126196

For the most part of December, Cardano remained oscillating between the trendlines of a symmetrical triangle as depicted by the above daily chart. The outcome could be a potential break on either side. As the coin awaited clarity in terms of the direction, there were some levels of interest for a short-term pullback.

After mild bearish hints, ADA flipped right back up from the 50 DMA [Pink] while the 100 DMA [Purple] continued to tread well below the ADA price candles. The gauge between the two moving averages was seen rising which was a positive indicator.

ADA2 e1609159358325

Cardano suffered a minor pullback which triggered a bearish crossover in terms of MACD. However, the indicator was now hinting at a potential bullish crossover in the near-term which could push the price of the coin for an upside breakout.

Stochastic RSI suggested a rise near the overbought zone, which was another positive indicator for the coin. The RSI too was above the 50-median line depicting a sentiment of increasing buying pressure among the investors as the altcoin spot market jumped on the bullish bandwagon to reap the profits.

The above technicals for ADA indicated a bullish breakout on completion of the pattern formation as the bulls continued to aggressively defend the current price level.

For a bullish case, the levels to look out for were $0.172 and $0.182 respectively. In addition, the coin found significant support at points $0.149, $0.143, and $0.138.

Filed Under: Altcoin News, News Tagged With: Cardano (ADA)

Cardano [ADA] To Have A Merry Christmas; Bitcoin Hits New ATH

December 25, 2020 by Sahana Kiran

The crypto industry had once again welcomed the bulls into its market. Cardano [ADA], XRP, Litecoin [LTC], as well as Bitcoin Cash [BNB] were gaining big. Bitcoin’s price change had left the crypto-industry with a merry Christmas. The king coin managed to secure an all-time high of $24K with a 7% rise over the last seven days. XRP had been swimming in troubled waters, however, the asset was seen rising by over 40% in the past 24-hours.

All the altcoins were on an upward surge. Cardano [ADA], was priced at $0.160 with a 13.07% rise over the course of the last 24-hours. The coin had recorded a slump of 5.25% in the last seven days. The asset had recorded immense fluctuations in terms of market cap. At the time of writing, ADA was standing as the seventh-largest coin with a market cap of $4.9 billion.

Cardano [ADA] One Hour Price Chart

Cardano

The one-hour price chart of ADA revealed that the altcoin was in for an uphill journey. The volume in the ADA market wasn’t very high or very low. The daily moving average indicator revealed a bullish sentiment in the market. The 100 daily moving average [Red] was seen below the 50 daily moving average [Green] which indicated the presence of bulls.

Cardano [ADA] Price Chart With Indicators

Cardano

It was all bulls for the ADA market. The Awesome Oscillator indicator notified the presence of bulls with the formation of green closing bars. The MACD indicator also affirmed the invasion of bulls as the MACD line took over the signal line.

Bitcoin was unstoppable. The king coin kept surging and prolonged the bull trend. BTC, at the time of writing, was trading at a high of $24,600 with a daily increase of over 6% over the last 24-hours. Bitcoin’s market cap was also seen on a rise as it was noted at $456.54 billion.

Filed Under: Altcoin News, Bitcoin News, News Tagged With: Cardano (ADA)

Cardano [ADA] Takes A Stroll In The Bearish Territory

December 15, 2020 by Sahana Kiran

The crypto market was ecstatic after Bitcoin once again zoomed past $19K. Certain coins like Cardano [ADA], Bitcoin Cash [BCH] as well as Binance Coin [BNB] were in sync with the price movement of the king coin as they were seen surging. A few other currencies, like XRP and Ethereum [ETH], were seen hibernating with the bears. The fairly new cryptocurrency, Polkadot [DOT] was the star of the show with a 4% surge over the past 24-hours.

During the time of writing, Cardano was trading for $0.153 with a dainty change in its price. Over the course of the last seven days, ADA had managed to bag gains up to 2.47%. The market cap of the coin was at $4.77 billion this further allowed the coin to prolong its stay as the eighth largest coin. 

Cardano [ADA] One Hour Price Chart

Cardano [ADA]

The one hour price chart of ADA had formed two diverging lines further laying out an ascending triangle pattern. The pattern was identified by higher highs at $0.1503, $0.1572 as well as $0.160 forming the upper trend line. This was followed by a lower trend line with higher lows at $0.134, $0.142, and $0.149. The formation of the aforementioned pattern insinuated a breakout in the upward direction.

This bullish pattern was further affirmed by the daily moving average indicator. The 50 daily moving average [Blue] remained above the 100 daily moving average [Orange] for a long time now. The indicator revealed the strong presence of bulls with this crossover.

 Cardano [ADA] Price Chart With Indicators

Cardano [ADA]

 

The Cardano market was seen as a battleground between the bulls and the bears. With both these parties fighting the uncertainty of the fate of ADA grew stronger. While the ascending triangle pattern and the daily moving average indicator affirmed the presence of bulls in the ADA market, the MACD indicator suggested otherwise. The MACD line was seen resting below the signal line which was a bearish crossover. This crossover took place earlier today and indicated the evasion of bears in the market. The Bollinger Bands indicator was seen diverging which further hinted at an increase in volatility.

Filed Under: Market Analysis, Altcoin News, News Tagged With: Cardano (ADA)

Will ‘Project Catalyst’ Be Cardano Blockchain’s First-Ever DeFi Protocol?

December 9, 2020 by Reena Shaw

IOHK, the company behind the Cardano blockchain announced experimenting with a decentralized finance [DeFi] lending protocol dubbed ‘Project Catalyst’. In a long Twitter thread, IOHK urged the Cardano community to pitch and, get community feedback. The community would then vote on the favorite ideas the best of which would get the funds to build the project.

IOHK tweeted,

“We’ll soon be inviting the community to register to vote, kicking off the first-ever public Catalyst funding round. An initial $250k-worth of #ADA will be available for building the best idea[s] at Cardano. And that’s just the beginning…”

Throughout 2021, IOHK revealed several rounds would, in turn, unlock millions-worth of ADA to fund development ranging from content to community resources, decentralized apps[ DApps] to decentralized finance [Defi]. With its latest initiative ‘#festivalofidead’, the team intends to accelerate the development of the Cardano ecosystem by pooling in the community by “empowering” and funding them.

The best ideas which will be selected by Cardano community members will essentially receive up to $250,000 worth of ADA to advance the development of their projects.

The first candidate to be announced for IOHK’s latest project is dubbed ‘Liqwid’ which claims to be an open-source lending protocol on a distributed decentralized cloud. According to Dewayne Cameron, Management Consultant at Liqwid, the platform enables participants to earn interest on deposits and borrow assets directly on the Cardano blockchain.

Furthermore, Liqwid is essentially governed by its members who are the only individuals that introduce proposals or vote on updates. All member decisions will be recorded and enforced by smart contracts on the Cardano blockchain.

According to Liqwid’s official release, the development phase for the protocol will begin in December third week while testing is scheduled for the end of the first quarter of 2021.

Besides, IOHK further revealed a second collaborative idea by Workshop Maybe, a community focussed organization, and Gimba Labs. According to the pitch, the idea aims to drive up adoption for Cardano.

 

Filed Under: DeFi, Altcoin News, News Tagged With: Cardano (ADA), IOHK

Cardano [ADA] To Fend Off Bears As It Speeds Towards The Bullish Realm

December 9, 2020 by Sahana Kiran

The crypto market was experiencing carnage with almost every coin recording significant slumps. Cardano [ADA] and XRP were seen topping the list as the biggest losers of the ongoing bear market. Other coins like Litecoin [LTC], as well as Chainlink [LINK], were also recording a major downfall. Bitcoin did not have enough fuel to drive past $20K as the king coin was trading for $17,875.77 at the time of writing.

During press time, Cardano [ADA] was trading for $0.1336 with a whopping 12.94% drop in its price over the last 24 hours. The coin was seen resting as the ninth-largest cryptocurrency with a market cap of $4.143 billion. Over the course of the last seven days, the altcoin had plummeted by 15.97%. 

Cardano [ADA] One Hour Price Chart

Cardano

The one-hour price chart of Cardano [ADA] formed a bullish pattern. Two downsloping converging trendlines formed a falling wedge pattern. The upper trend line was identified by lower highs at $0.148, $0.145, and at $0.138. The lower trend line, on the other hand, was formed by lower lows at $0.143 and $0.131. The direction of a breakout for the falling wedge pattern is usually upwards. This further revealed that the ADA market was gearing up for a reversal of trend.

The 50 and 100 daily moving average indicators were in sync with the bullish pattern. The 100 daily moving average [Red] was seen lounging below the 50 daily moving average [Blue] which further acknowledged the presence of bulls in the ADA market.

Cardano [ADA] With Key Indicators

Cardano

The entire crypto-verse was muddled in the red sea. With every coin hibernating with the bears, certain coins were trying hard to move on to the bullish territory and ADA was one among them. The Bollinger Bands indicator suggested an increase in volatility as the bands were significantly apart. Furthermore, the bands were seen diverging which suggested that the coin was gearing up for a price change.

The Stochastic RSI indicator was seen recovering from the oversold zone. The indicator was seen suggesting that ADA would once again take a trip to the oversold zone.

Filed Under: Market Analysis, Altcoin News, News Tagged With: Cardano (ADA)

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