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#Cardano Price Analysis

Cardano Latest Updates, ADA Price Analysis

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The article intuitively covers the recent advancements with respect to Cardano and the latest price analysis for ADA token.

Keeping up with the changing attributes in the crypto domain is highly challenging in this busy world. The article intuitively covers the recent advancements with respect to Cardano.

 

Cardano news updates from the past few months

Things have not been quite in favor of Cardano, within the past few weeks as the existence of Cardano Foundation is at stake. The Cardano project was a joint venture of three organizations namely, the Cardano Foundation, IOHK, and Emurgo. The overall workload for the development of the blockchain protocol was divided among them equally. But, recently the Cardano Foundation has been accused of underperforming. The CEO of the project, Charles Hoskinson in favor of IOHK and the CEO of Emurgo, Ken Kodama submitted an open letter to the Cardano foundation marking its underperformance.

 

The Cardano Foundation has also various futuristic roadmaps for the fourth quarter of 2018. It predominantly concentrates upon decentralized and fully autonomous systems. Interestingly the foundation has five stages of the roadmap, and currently, it is in the Byron stage, but are parallel working for the development of its next stage, the Shelley stage which focuses on multi-signature transactions for HD wallets.

 

Price analysis

ADAUSD Price Chart

ADAUSD Price Chart

July

From $0.13 to $0.19 the prices marked a significant rise during the month of July. But later again it fell back to $0.13.

 

August

Further bearish Momentum was experienced by the prices, as it fell from $0.13 almost to $0.091 level.

 

September

On 5th September 2018, the price broke its support level of $0.1 and drastically fell to $0.06.

 

October

From $0.08 the prices fell up to $0.07. The 9th largest cryptocurrency is trading around $0.073528.

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1 Comment

1 Comment

  1. Tom

    October 14, 2018 at 1:27 pm

    No worries…the project is in excellent hands and is steaming ahead full-bore.

    > > COMPARE Cardano to ANY Blockchain Project
    – Designed & Built from the ground-up using Scientific & Academic Standards
    – Testnet running for several weeks, ZERO BUGS.
    – Global Team of Engineers & Researchers
    – Quantum Resistant Signature Scheme
    – Haskell Programming Language
    – Provably Secure PoS Algorithm
    – Independent Third Party Audits
    – Academic Peer-Review
    – A Complete Ecosystem
    – Use Cases
    – Use Cases
    – Use Cases
    – Use Cases
    – Use Cases
    – Use Cases

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#Cardano Price Analysis

ADA Daily Trading Signals: 24 October

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Dominant bias for CARDANO (ADA)- Bearish

Resistance Levels- $0.08800, $0.09000, $0.09200

Support Levels- $0.07000, $0.06800. $0.06600

 

ADA is in a bearish trend.  After the loss of the bullish pressure that saw ADAUSD at $0.07939 in the resistance area on 21st October, the bears’ return was gradual. Initially, the cryptocurrency was down to $0.07680 in the support area before closing same day. The increased bearish pressure led ADAUSD to $0.07610 before minor bullish pullback on 22nd October that pushed the cryptocurrency up $0.07771 in the resistance area. Today’s 4-hour opening candle at $0.07616 formed a bearish railroad an indication that the bears are back and price may head south.

 

ADA 4-hour chart

ADA 4-hour chart

 

Price is below the 34 EMA a plus to the bears’ pressure coupled with the relative strength index signal pointing down it implies downward price movement of the cryptocurrency may be inevitable.

The downward trendline serves as a strong resistance. Each touch of price on it result in a breakdown. A breakdown may be expected as the price is around it. $0.07200 in the support area may the initial bears’ target

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#Cardano Price Analysis

ADA Daily Trading Signals: 23 October

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ADA is in a bearish trend.  After the loss of the bullish pressure that saw ADA at $0.07939 in the resistance area on 21st Oct, the bears' return was gradual

Dominant bias for CARDANO (ADA) – Bearish

Resistance Levels- $0.08800, $0.09000, $0.09200

Support Levels- $0.07000, $0.06800. $0.06600

 

ADA is in a bearish trend.  After the loss of the bullish pressure that saw ADAUSD at $0.07939 in the resistance area on 21st October, the bears’ return was gradual. Initially, the cryptocurrency was down to $0.07680 in the support area before closing same day. The increased bearish pressure led ADAUSD to $0.07610 before minor bullish pullback on 22nd October that pushed the cryptocurrency up $0.07771 in the resistance area. Today’s 4-hour opening candle at $0.07616 formed a bearish railroad an indication that the bears are back and price may head south.

 

ADA 4-hour chart

ADA 4-hour chart

 

ADA Price is below the 34 EMA a plus to the bears’ pressure coupled with the relative strength index signal pointing down, it implies downward price movement of the cryptocurrency may be inevitable.

The downward trendline serves as a strong resistance. Each touch of price on it result in a breakdown. A breakdown may be expected as the price is around it. $0.07200 in the support area may the initial bears’ target

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#Cardano Price Analysis

ADA Daily Trading Signals: 19 October

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ADA Price is below the two EMAs with the stochastic oscillator signal pointing down at 43%. This implies further downward movement within the range.

Dominant bias for CARDANO (ADA) – Ranging

Resistance Levels- $0.08800, $0.09000, $0.09200

Support Level-$0.07000, $0.06800. $0.06600

 

ADA is in a range-bound market   The loss in bullish momentum at $0.08091 in the resistance area for the continued upward journey after the retest gradually set the bears back in the market. The doji opening candle of 18th October at $0.08001 followed by the bearish hammer confirmed the bears’ takeover. ADAUSD was initially down to $0.07752. Increased bears pressure pushed the cryptocurrency further down to $0.07537 in the support area as ADAUSD enters the range.

ADA Price is below the two EMAs with the stochastic oscillator signal pointing down at 43%. This implies further downward movement within the range.

 

ADA 4-hour chart

ADA 4-hour chart

 

ADA is in consolidation and trading between $0.08050 in the upper supply area and at $0.07200 in the lower demand area of the range. A breakout at the upper resistance area or breakdown at the lower support area may occur hence patience is required for either to happen. Confirmation with good reversal candles after retest will be of great importance.

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