• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
Cardano (ADA) Technical Analysis

Cardano (ADA) Technical Analysis: ADA is 2 Cents Away From All Time Lows

Dalmas Ngetich by Dalmas Ngetich
4 years ago
in Uncategorized
Reading Time: 2 mins read
Advertisement

After Prometheus, there is Yoroi and Icarus. Both of these wallets are light weight and hallmark Cardano’s projects that would ultimately push the coin towards adoption. However, shadowing this are Cardano (ADA) sellers who despite slowing down are still on the forefront targeting ATLs at 7 cents.

From the News

Emurgo is a Japanese company headed by the visionary Ken Kodama, the CEO and co-founder of the Cardano platform. As the business development wing of Cardano, Emurgo has clear objectives. Among the many, their work involves offering support and incubating commercial ventures desirous of changing their respective industries by leveraging on Cardano’s blockchain technology.

It’s along this line that several South East Asia companies as Indonesia’s Hara–a data exchange platform with focus on the agricultural sector and HERO Group, the owners of Hero hypermarket chains based in Indonesia are on board. Encouragingly, there are more projects that are likely to launch on the network. Two days back, Emurgo unveiled Yoroi, IOHK product and one of Emurgo’s flagships.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

Yoroi is a Cardano light wallet that the team claim is light weight, fast and most importantly easy to use. Synonymous with Cardano, the wallet adheres to the best industry standard, intuitive and secure. The wallet is for day to day use and is a fork of Icarus. Icarus is a Cardano’s light weight wallet that  run off Google Extension.

Technical Analysis

Weekly Chart

Cardano (ADA) Technical Analysis
Cardano Weekly Chart by Trading View

In the past two to three weeks, Cardano (ADA) losses have been so steep shedding 35 percent. So far, the smart contracting token is down 22 percent on a weekly basis and poised for more as long as prices are trading between the coin’s ATL’s at 7 cents and our immediate resistance line at 12 cents.

From previous analysis, 12 cents remains an important level in our price capping gains and defining our potential levels of retest now that ADA’s prices are down 95 percent from 2017 peaks. Regardless, we shall retain a bearish preview. Since this is a bearish break out pattern following week ending Aug 12 break below 12 cents, our first take profits would be at 7 cents.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

On the reverse side, any strong gains that will see ADA’s prices trading above 12 cents would likely usher in a wave of buys with first targets at 20 cents.

Daily Chart

Cardano (ADA) Technical Analysis
Cardano (ADA) Daily Chart by Trading View

Like most coins under our preview, ADA bears are in charge. As long as prices are trading below 12 cents, selling on pull backs has to be the best trading plan. So far, prices are stable and trading within Aug 13 bearish engulfing pattern.

And since recent attempts for higher highs didn’t reverse that bear candlestick losses, the only way ADA bulls would be in charge is if there are gains above 12 cents. Before any of that happens, selling on every high in lower time frames with stops at 12 cents and first targets at ADA’s ATLs at 7 cents is ideal.

 

Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.

Tags: Cardano ADACardano IcarusCardano PrometheusCardano Yoroi
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Dalmas Ngetich

Dalmas Ngetich

Interested in new Tech

Related Posts

Polygon Price May Surpass $1.50 in February: Here's Why

Polygon Price May Surpass $1.50 In February – Here’s Why

8 hours ago
Cardano

Cardano (ADA) Up By Over 65% In 2023 – Here’s Why

10 hours ago
Bitcoin Network

Craig Wright Wants His $2.5 Billion, Demanding For a Bitcoin Hard Fork

1 day ago
FBI NFT Phishing Scammer

FBI Recovers An $141,000 Audemars Piquet Watch, NFTs, From Scammer

1 day ago
Dogecoin DOGE

63% Of Dogecoin Holders Are Making Money

1 day ago
Reddit MOON Arbitrum Nova

Reddit Deprecates The MOON Bridge To Arbitrum Nova, Users To Lose 4.77 Million Tokens

1 day ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Metaspins

Metaspins

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
Coinplay

Coinplay

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

Big Eyes Coin Presale Crosses $22 Million Mark, Indonesia Plans Launch of Crypto Exchange in June

February 5, 2023

Presenting LYOPAY Pro – An Innovative Payment App Connecting Traditional Finance with Digital Currency

February 5, 2023

Dogecoin (DOGE) And Fantom (FTM) Make Appreciable Profits As Orbeon Protocol (ORBN) Moves Closer To 700%

February 5, 2023

Monero (XMR) and Dogecoin (DOGE) are Popular Twitter Crypto Recommendations. Here’s Why Savvy Investors Choose Snowfall Protocol (SNW) Instead

February 5, 2023

Price Predictions for Polygon (MATIC), Uniswap (UNI), and Snowfall Protocol (SNW) for 2023 – 2030

February 5, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.