• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Invest BTCTry
  • Join STC ICOBuy
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Invest BTCTry
  • Join STC ICOBuy
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo

Cardano Price Analysis: Every Low a Buying Opportunity for ADA Bulls

Dalmas Ngetich by Dalmas Ngetich
2 years ago
in
Reading Time: 3min read
technical analysis cardano ADA
Advertisement

Regardless of the politics around ZRX CoinBase listing, ADA could possible bottom up despite yesterday’s losses. Overly, we maintain a bullish stand now that there has been a strong correction from 2017 highs with bears threatening to dip below ADA’s all-time-lows at 6 cents.

Latest Cardano News

As I type this, ZRX, an ERC-20 token of The Ox protocol is live at CoinBase. Well, the results are obvious and have been the source of anger, postulation and criticism moments after CoinBase availed ZRX for their US customers. While some of these criticisms may be valid and perhaps even be the basis of a wider investigation many should realize that the $8 billion US exchange does list coins at their own discretion. We can even argue that CoinBase is just like any other for profit exchange. It’s only that it happens to be popular, hack free and has the trust of the community.

While ZRX is the first ERC-20 token and one of the five coins/tokens CoinBase was exploring, the fact that Cardano and three other coins were left out made no sense for many. Though Cardano doesn’t meet some of the platform’s digital framework because of its centralization—IOHK does all the mining and has no working prototype, Charles Hoskinson and the team behind Cardano are working overtime to make this project a reality.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Milestones have been hit and Project Shelly is set for Q1 2019. Unless there is project acceleration, we don’t expect Cardano to be fully operational in months. However, it’s no secret that once it launches it will definitely clip some market share from Ethereum and EOS.

Cardano Price Analysis

Weekly Chart

Cardano Price Analysis

Technically, Cardano (ADA) is in consolidation and safe the occasional pumps and resistance around the 10 cents to 12 cents region, our previous Cardano price analysis is valid. This is so because not only are prices ranging inside week ending Sep 23 high lows but Oct 15 bulls could affirm the presence of buyers who have so far been successful in rejecting lower lows.

If anything, risk-averse traders should hold a neutral stand only taking longs once there are strong gains above 12 cents. Thereafter, they can begin packing on dips with first targets at 20 cents. Conversely, any break below 6 cents—the new ADA all-time-low open doors for new lows. When that happens, we recommend selling on all pullbacks with stops at around 10 cents. Thereafter we can  let the trade run.

Daily Chart

Cardano Price Analysis

ADA is down roughly five percent in the last day but still trading below the minor resistance trend line. Obviously, it is a liquidating line preventing gains above 9.5 cents.

Because of this, it’s likely that our last Cardano trade plan could materialize today or over the week. However, that is subject to gains above 9.5 cents. What traders need to see are strong thrusts triggering buyers in line with Oct 15 trend definition. Remember, gains above 12 cents automatically means ADA is bottoming up and bulls are in charge.

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: ADA/USDCardano price AnalysiscoinbaseLatest Cardano NewsZRX
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Dalmas Ngetich

Dalmas Ngetich

Interested in new Tech

Related Posts

Value Network

Value Networks’ Binary Options on Qtum Blockchain Experienced 200x Growth in DeFi

11 hours ago
Bitcoin

Why Bitcoin Price Is Gearing For Another Lift-Off To New ATH

12 hours ago
OlympusDAO OHM

Why this OlympusDAO’s product could be amongst DeFi most lucrative

20 hours ago
Bitcoin BTC BTCUSD

How Bitcoin back above $60,000 could create a powerful upside move

21 hours ago
Ripple XRPUSDT

How Ripple’s big win in court correlates with XRP’s 113% rally

22 hours ago
bitcoin real estate mogul

LA Real Estate Mogul Buys Bitcoin, Accepts BTC For Rent

2 days ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
Bybit

Bybit

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Top ICOs

Student Coin

Student Coin

Review · Visit

Token sale

Holdefi

Holdefi

Review · Visit

Press Releases

Two Leading Russian Media and PR Agencies United Into One Full Cycle Advertising Agency

April 9, 2021

Southampton FC Extend Partnership Deal with Blockchain Leader the Coingaming Group

April 9, 2021

Omni.ai Releases Whitepaper for Alternative All-Inclusive and Revenue-Sharing Social Media Platform

April 9, 2021

Newsletter Signup


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.

COMPANY

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

Technical Analysis

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

LINKS

Auto Trading Software ▸

Cryptocurrency news

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

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Invest BTC
  • Join STC ICO

© 2020 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.