• 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
technical analysis cardano

Cardano Price Analysis: ADA/USD Sink and Stabilize Below 7 cents

Dalmas Ngetich by Dalmas Ngetich
4 years ago
in Uncategorized
Reading Time: 3 mins read
Advertisement

Even if prices are low and on-chain development slow, Charles Hoskinson and Cardano are literally hitting milestones. Though it could take a decade or more before Voltaire, once it goes live Cardano might easily outperform competing platforms. This is so because Cardano’s foundation is thorough with scientific verification. Price wise ADA/USD is technically bearish. Unless there are strong moves above Oct 29 highs and key liquidating resistance trend line, bulls stand no chance.

Latest Cardano News

Any altcoin is as good as the team behind it. That has been the word from the very beginning and surely Cardano is living and breathing by it. Charles Hoskinson, the serial developer behind platforms as Ethereum Classic rarely flatter. So whenever there is a positive comment, his thorough analysis and/or criticism highlight brilliance. He recently commended Algorand, a blockchain project adopting the peer review path, claiming they now have a competitor.

Congratulations Silvio, we finally have some real competition https://t.co/fI3FzcwIL3 🙂

— Charles Hoskinson (@IOHK_Charles) October 24, 2018

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!

Though this could be a bit harsh for existing platforms that brag on their exclusivity, flaws are inevitable. More often than not, Charles Hoskinson isn’t shy to highlight them and even proposing solutions as good will for the community’s sake.

I've decided to have an Ethereum mode developed for our Mantis client so it can support both ETC and ETH. I guess we finally got around to building an Ethereum wallet 🙂

— Charles Hoskinson (@IOHK_Charles) May 25, 2018

In the grand scheme of things, Cardano progress is slow and almost stagnant at some point but still there are movements. Straight from SCALA and the Mantis Client where the team did recreate a copy of Ethereum with just 15,000 lines of code. What’s interesting about this is not the clone itself but the chain could be satisfactorily verified with property-backed testing.

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

Today we launch the second #Cardano testnet, which is for the IELE virtual machine (VM) and follows our recent launch of the KEVM testnet. Developers now have the opportunity to explore Cardano's #smartcontracts technology, read more here: https://t.co/VAzuYwvFWe @cardanocom #Ada pic.twitter.com/CegeGlA4XZ

— Input Output (@InputOutputHK) July 30, 2018

Besides, developers can easily deploy the Ethereum Classic full node. Soon it will have the same support for the Ethereum client. Additionally, substantial development continues after the launch of IELE virtual machine for smart contract deployment. Already two test nets created from K-Framework semantics allowing for formal development of crypto developments are now with IELE and KEVM. If anything this is huge for Cardano and ADA.

ADA/USD Price Analysis

Weekly Chart

ADA/USD Price Analysis

Technically, the path of least resistance is southwards. It doesn’t matter the fall from 2017 highs because it appears that sellers are unrelenting in their effort. From the weekly chart, we easily note that ADA/USD sellers have been successful reversing all of 2017 gains. However, it appears that they are insatiable and breaks below 6 cents, the new ADA’s all time lows, could trigger another wave of sell pressure driving this coin to oblivion.

Like in our previous ADA/USD trade plans it all depends on whether there will be confirmation of the bear break out pattern of early August even in this consolidating market. If ADA cave-in, wiping out gains of week ending Sep 23 then conservative traders should sell on retests at 6 cents. Thereafter they shall let the trade run with safe stops at 9.5 cents.

Daily Chart

ADA/USD Price Analysis

In the meantime, cracks are beginning show in the daily chart. Though we were net bullish not because of Oct 15 rallies but because of the depth of ADA/USD correction, the reversal of Oct 15 bulls did push prices below 7 cents. This is minor support and sell trigger meaning trades with stops at 7.5 cents or Oct 29 highs are live.

Therefore, unless otherwise there are strong, high volume gains reversing Oct 29 losses, clearing stops and thrusting prices above the minor resistance trend line, our last ADA/USD price forecast hold true.

Traders should take every high as liquidation points in lower time frames with first targets at 6 cents. On the other hand, clearance of 7.5 cents mean risk on traders can begin becoming comfortable with gains above Oct highs at 9.5 cents as bulls build momentum for 12 cents resistance clearance.

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/USDADA/USD Price AnalysisCardano price AnalysisCharles Hoskinson CardanoLatest Cardano News
Tweet123Share213ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Dalmas Ngetich

Dalmas Ngetich

Interested in new Tech

Related Posts

bitcoin price bear

Will Bitcoin Price Return To $20,000? Here’s What Investors Expect

58 mins ago
Solana

Solana Can Depreciate Further If It Doesn’t Breach Its Immediate Target

2 hours ago
fetch ai fet chatgpt

Fetch.AI (FET) Soars 20% In Under 24 Hours As AI Arms Race Hastens

4 hours ago
Polkadot

Polkadot (DOT) Gains 6% In One Day As Market Sees Correction

4 hours ago
Ethereum

Ethereum Burning Reaches New High, Is ETH Warming Up For Another Rally?

5 hours ago
Litecoin

Litecoin (LTC) Tallies Over 12% Increase In Last 7 Seven Days

6 hours 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

ApeCoin (APE), Dogecoin (DOGE), and Snowfall Protocol (SNW) – Three Great Coins for NFT Lovers

February 3, 2023

Turn Playtime into Paytime with RankerDAO’s Gaming Crypto Platform

February 3, 2023

Fetch.ai (FET) up 200% in 30 days – Orbeon Protocol (ORBN) Skyrockets by 1400% in Presale

February 3, 2023

Dacxi.com rebrands to Wealth99

February 2, 2023

What Is the Latest in Crypto? Terra Classic Community Approves Crucial Proposal to Resume Terra CLasic (LUNC) Burns, Fetch.Ai (FET) Ranks Among the Top AI Altcoins for Investors In 2023, Snowfall DEX Attracts More Investors to Snowfall Protocol (SNW) with A Week to Official Launch

February 2, 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.