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#Cardano Price Analysis

Is this the best time to buy Cardano? Cardano Price long term analysis

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Reliability of Cardano is better than bitcoin and Ethereum. Before making decisions on whether to buy Cardano or not, it is good to know why to buy Cardano.

The name Cardano sounds familiar does it not? That’s because the whole world is talking about how you would regret if you do not buy Cardano today at the current cryptocurrency market as the opportunities seem vast and beneficial if you buy Cardano now.  

What is Cardano?

It is another cryptocurrency like bitcoin and Ethereum. Let’s say bitcoin is considered as first-generation cryptocurrency, Ethereum is considered as second-generation and Cardano is considered as third-generation cryptocurrency where all the problems and issues encountered in the first- and second-generation cryptocurrency is fixed in the third-generation which is the Cardano.

It is a cryptocurrency that works on the blockchain platform as similar as bitcoin and Ethereum. The only difference is that Cardano has is better comparatively as far as the features that have been made in this cryptocurrency. Before making decisions on whether to buy Cardano or not, it is good to know why to buy Cardano.

What are the problems fixed by Cardano?

1. Bitcoin and Ethereum has their limitations when in relation to transactions as their block size are limited making the transactions a bit slower. This also results in reduced availability of the cryptocurrency platform for all users around the world. Cardano has solved this by a unique mechanism called consensus mechanism. This is one of the very promising features as to why you should buy Cardano. The increase in its efficiency is this is one of the reasons why you must buy Cardano.

2. Reliability of Cardano is better than bitcoin and Ethereum and the issues faced in relation to network downtime or connectivity during transactions or data storage. With the new graphene protocol and new upcoming updates Cardano has better options and opportunities to make even better features and thus reducing the size of storage of data in CPU, increasing the transaction rate with an increase in the network connectivity. This is one other promising feature as to why to buy Cardano.

3. The lifetime and the features of the bitcoin and Ethereum stay only as long as a new threat is not risen to its very existence. With every change that happen in technology in the world new threats and attacks keep arising too. With the attacks made on bitcoin and Ethereum, the cryptocurrency market platform learns from the attacks and make sure it does not repeat again by making updates more standardized and increased security features. This makes Cardano more sustainable in nature. This feature makes you feel more reliable on why to buy Cardano.

Why buy Cardano?

ADAUSD 3 months Price Chart

ADAUSD 3 months Price Chart

Looking at the above 3 months chart, ADA Price seems to be at the lowest point at the moment which may be considered at the best time to invest in Cardano.

 

With changing technology, you need a cryptocurrency that you can trust to be reliable with any updates that come or any changes in technology that come along with it too. When you decide to buy Cardano, that by itself makes you feel better because the whole world is talking about it and trusts it to be better and good in many aspects ranging from privacy, rate of transactions to security protection features against attacks, etc.

When you buy Cardano all the following feature will be of great help and you will not regret it. The updating process of Cardano is easier and faster as it also learns from the first two generation cryptocurrencies and in addition it also makes the updating features more reliable as the updates are built over the ones that are already released previously thus having a base to work on. The usage of Cardano is also not as difficult as it may seem or sound. It can be self-learnt and easier to handle. The process is also easy to understand the transactions are easier for handling too.

Cardano is backed up by various academic researchers and developers making it the smarter choice when deciding to buy Cardano instead of buying any other cryptocurrency. The regulations of Cardano are standardized making it more securable and private.

Since its still in developing stage it may feel if you should invest in this cryptocurrency wondering if to buy Cardano today or buy Cardano later. But you know the answer to your question, right? The value might go up for Cardano as the days pass by as it is very promising in nature and very well growing too. The competition may seem high with many cryptocurrencies out it in the market already but what matters is that, if you are willing to take the chance and trust the new trends that the world is talking about or if you are willing to take the chance and trust the trends that the world talked about. The answer comes to one solution which is, you need to be updated and adaptable to the changing technology trends, especially in digital currency markets as they are prone to change often from time to time. If you want to buy a cryptocurrency where people are focused on making it better to make your life better constantly then you need to buy Cardano. It is the smart choice.

#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

Continue Reading

#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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