Cardano saw a massive upswing yesterday that allowed it to erase virtually all of its recent losses
For a brief period, the crypto even tapped its previously established yearly highs, although the selling pressure here proved to be quite significant
As for where the cryptocurrency could trend next, analysts are growing increasingly cautious about its outlook
Despite there being a few technical signs that suggest it may continue pushing higher, one trader is noting that it could “nuke lower” at any second
Cardano (ADA) has been caught in the throes of a firm uptrend throughout the past several days and weeks, adding a significant amount of money to its market capitalization as investors pour fresh funds in.
This positive price action has largely been rooted in positive news regarding the Shelley mainnet upgrade as well as the imminent launch of ADA staking on Coinbase Custody.
Investors have rallied behind this news, allowing the crypto to climb by several hundred percent since the start of the year.
This growth may not be as sustainable in the short-term as it seems, however, as one analyst is noting that it could easily “nuke” lower at any second.
That being said, there are still some technical factors playing in ADA bull’s favor.
Cardano Attempts to Confirm Extremely Bullish Pattern Despite Overnight Rejection
At the time of writing, Cardano is trading down marginally at its current price of $0.13.
This marks a recovery from its daily lows of under $0.127 that were set following its rejection at its yearly highs of $0.135.
One analyst is now noting that the cryptocurrency is on the cusp of forming a coveted “cup and handle” pattern, which is an overwhelmingly bullish pattern that is typically followed by notable breakout rallies.
“This is about as good of a cup and handle example as you’ll find in the wild,” he explained.
Image Courtesy of Jonny Moe. Chart via TradingView.
If Cardano can surge higher and break above its 2020 highs, this pattern would be confirmed and could help fuel its momentum.
Why One Trader is Cautious of ADA’s Uptrend
Despite showing overt signs of strength, one popular trader is noting that he is treading cautiously when it comes to Cardano.
He notes that ADA could “nuke” lower at any second, although he does expect it to see slightly further upside.
“ADA Cardano: Beast. I think it could make one more leg up into weekly resistance, however I’d tread very cautiously since this could just as easily nuke here. Personally, I’m longing a small position now and waiting for price to break to the upside convincingly before adding.”
Image Courtesy of Bagsy. Chart via TradingView.
How Cardano trends in the coming days should be quite revealing for its macro outlook.
Featured image from Shutterstock.
Charts via TradingView. origin »
Altcoin Buzz made a video to discuss whether Cardano could reach $7 in 2025. According to the analyst, many skeptics predict ADA could hover $1. 50 to $2. 50. He believes that Cardano could surpass $3, aiming for targets of $5, $7, or even as high as $11.
Cardano swing traders could wait for a demand zone retest to enter.
The$0. 787 resistance could stall bullish efforts.
Cardano [ADA] investors have waited for this moment for almost three monThe post Cardano achieves a breakout - Could $1.
Cardano, now the sixth-largest cryptocurrency by market cap, could see its current upward momentum last for quite a while without seeing any major consolidation.
The post Strong fundamentals mean Cardano (ADA) could keep up with its July rally appeared first on CryptoSlate.
Cardano’s price rallied more than 25% in the past few days and it traded close to $0. 1400. ADA is currently down 7%, but it is still holding key supports and likely to resume its surge. ADA surged towards the $0.
Cardano (ADA) has been trading alongside some of the best performing digital assets throughout the past quarter, posting intense gains fueled by positive news regarding the roll-out of the Shelley mainnet upgrade.
Cardano and Tezos posted impressive gains over the last few weeks, but stiff resistance could pose problems for their ascent. Cardano Might Hit a Wall One of the so-called “Ethereum...
Cardano could see Presidential coins issued on its platform in order to demonstrate its multi-asset standard, Charles Hoskinson said in his latest AMA.
The post IOHK could demonstrate Cardano’s multi-asset standard with Presidential campaign coins for Kanye West and Brock Pierce appeared first on CryptoSlate.
Cardano has been caught within an intense rally over the past few weeks, surging amidst a flurry of positive news This rally has allowed it to set fresh yearly highs today, and in the near-term, it appears that it will continue climbing higher It is important to note that it is quickly navigating up towards a massive high time frame resistance level The selling pressure here may be insurmountable and could spark a selloff This […]
Like its competitors, Cardano has been active with updates in 2020. However, they may not be enough to stop the project from falling behind. Hence, ADA holders may experience another...
Cardano’s ADA has done extremely well in 2020 in terms of price action.
The post Analyst explains how ADA could continue its rally as Cardano’s “Shelly” arrives appeared first on CryptoSlate.
Cardano (ADA) has been one of the hottest cryptocurrencies throughout 2020, posting gains that have only been rivaled by Tezos and Chainlink.
The post These three factors could determine the mid-term fate of Cardano (ADA) appeared first on CryptoSlate.
Cardano founder Charles Hoskinson reckons it is time Twitter grant him its blue check mark so as to prevent numerous con artists impersonating him ?on a daily basis?
The signs of an altcoin rally could be seen in the cryptocurrency market as every other day, a new coin rallies while bitcoin keeps steady under $10,000. The likes of Cardano, Kyber Network, Zilliqa, and THETA have been already recording significant gains and now it’s time for yet another altcoin to enjoy the greens. It […]
The Cardano (ADA) price has increased by 58% since May 18. It has, however, reached an important resistance area that could initiate a severe reversal. This possibility is also supported by the creation of a short-term bearish pattern.
While the first wave of pioneers is testing Shelley, Hoskinson took to YouTube to answer community questions, touching on topics such as incessant trolls, roadmap deadlines, and handling a future Cardano that could process thousands of transactions every second.
Cardano (ADA) has broken out from a short-term descending resistance line. However, it is still trading inside a longer-term symmetrical triangle. A breakout from the latter could send the price to 690 satoshis.
A few days ago, Bitcoin scaled the $10,000 mark and then reversed not long after. Bitcoin at $10K is not at all strange, especially when its $20,000 all-time high is considered. However, there was a time when people probably did not think that Bitcoin could hit $10,000.
Cardano founder Charlies Hoskinson said that Ethereum could have developed more smoothly, had Buterin made different decisions regarding the PoS protocol
The ADA price has been decreasing since reaching a high of 694 satoshis on Feb. 13. On Feb. 25, it reached the previous breakout level and bounced upward. Cardano (ADA) Price Highlights There is support at 540 satoshis.
As environmentalists continue to criticize Bitcoin’s proof-of-work (PoW) consensus algorithm for using too much energy, proponents of delegated proof-of-stake (DPoS) have come forward, touting its aThe post Tezos, Cardano, EOS, other DPoS networks could have inherent governance problems appeared first on AMBCrypto.
The decentralized public blockchain and cryptocurrency project, Cardano could be embraced by the high tech capital of the world, Silicon Valley very soon. This was revealed by Charles Hoskinson, the CThe post Cardano could be soon embraced by high-tech Silicon Valley appeared first on AMBCrypto.
With a flurry of developments over the last two months, 2020 could indeed be the year for the Cardano ecosystem. In fact, the team just recently released a major update with the announcement of a new The post Cardano's new Haskell implementation intends to 'radically' improve design appeared first on AMBCrypto.
Cardano has seen a lot of positive movement this year, with the ADA token recording significant gains in the first month of 2020 alone. However, this might not be the end of its glory days as some bulThe post Cardano could breakout to 38.
Like many crypto assets, the price of Cardano (ADA) has increased over the opening month of 2020. Starting the year at around $0.033, the digital currrency now trades at more than $0.054. Although the same could be said about many of the thousands of other digital currencies, the gains do not appear to be based... The post appeared first on NewsBTC.
Cardano rallied more than 12% and outpaced bitcoin’s 5% rise. ADA price is now trading well above $0. 0500 and it could continue to rise towards the $0. 0600 resistance area. ADA price started a strong rise after it broke a major resistance near $0.
Near the top of the Bitcoin bull market in 2018, Cardano (ADA) was dominating. Everything. Aside from a few select altcoins in Ethereum, XRP, and BCH, ADA was at the top of the market, rallying on a seemingly strong team and the promise of Cardano becoming the next leading blockchain that could service everything and... The post appeared first on NewsBTC.
Since January 2018, a time when Cardano was valued at around $1. 40, ADA has lost over 97% of its value. With a market value of $0. 042 at the time of writing, Cardano could be in for some short-term moThe post Cardano might go past $0.
The ADA price has increased by more than 10 percent over the past week. The recent short-term breakout above a resistance area could have been the first step that precedes a major price rally. Trader @CryptoMichNL outlined a price movement which he believes is present in numerous altcoins.
The Cardano Foundation shared the goals it achieved during 2019, which could pave the way for ADA’s price action this year. Cardano’s 2019 review In a recent blog post, the Cardano Foundation revealed that 2019 was a “transformational” year for the non-profit organization as well as for the development of its native cryptocurrency ADA.
The ADA price has decreased by 75% since the beginning of April. It has created an ascending triangle, out of which we believe it will break out. However, due to the gradual slope of the pattern, this breakout could take months to materialize.
Following a brief recovery, Cardano headed for a downtrend as the month dawned. Despite significant developments on the tech front to bolster the coin's adoption, Cardano has failed to post any signifThe post Cardano's price could face resistance at $0.
The Cardano price has likely made a long-term bottom. The ADA price close on November 29 will likely indicate whether an upward move has already begun. On November 28, the Cardano foundation announced that it is releasing Adapay.
Cardano had briefly shown signs of recovery from its previous fall in early-November. However, the coin could not keep up with the trend. The digital asset has been trading at a yearly low due to incrThe post Cardano's price to drop further with breach of descending triangle appeared first on AMBCrypto.
Over the last week, $50 billion were wiped off the total crypto market capitalization. The losses are visible throughout most cryptocurrencies in the industry. Now, it seems like the carnage could be over, or at least temporarily paused.
Back in 2017 when new and exciting crypto projects were emerging on the scene a shill here or there could make all the difference. Some called it market manipulation and in a way it was; an artificial pump to inflate prices which subsequently dumped again.
In another surprise AMA session, Charles Hoskinson shared the latest updates on Cardano. The CEO of IOHK said that October has been a month packed with action that could enable the first snapshot for the Shelley incentivized testnet to happen as early as Nov.
During the past week, the total volume of transactions larger than $100,000 in ADA surged exponentially. Data from IntoTheBlock also revealed that while the overall amount of Cardano transactions has been steady, the volume is increasing, which could be later reflected in its market value.
Cardano’s [ADA] price has suffered downside pressure since the last week of September, despite brief upward momentum following major upgrades in the Cardano ecosystem. The coin dropped to a low of $0.
Cardano network’s implementation has been pretty successful, with the ecosystem led by Charles Hoskinson all set to launch the incentivized testnet for Shelley which involves real incentives in the form of staking and delegation rewards to stir participation.
Some of the top altcoins by market capitalization—including TRON, Cardano, and Chainlink—began surging over the last few hours. As they absorb a bigger share of the market it could mark the beginning of a new altseason.
Cardano has lost over 23% over a period of seven days and at the time of writing, the altcoin was priced at $0.037 after a decline of 4.10% in the last hour. Despite a steep rise in the latter part of March and a flurry of developments soon after in the Cardano ecosystem, the altcoin […]
After consolidating low in the charts for the past couple months, major altcoins were moving in a direction which could revive some of its early-year optimism. Bitcoin dominance was still above 70 percent at press time, as alts tried to make a comeback in the market.
Charles Hoskinson, the founder of Cardano seems to be a busy bee in the cryptosphere lately. Just a few days ago, he announced that Cardano version 1.6 would be going live in a few days. Now yesterday, Cardano Foundation broke the news of a major partnership with blockchain venture studio based in Berlin, Germany, Konfidio […]
The post Could This New Partnership With Blockchain Venture Studio Be The Catalyst That Sparks A Resurgence Of ADA? appeared first on ZyCrypto.
Cardano has been widely hailed as one of the most ambitious yet scientifically driven projects in the cryptocurrency space. Many cryptocurrency enthusiasts and especially ADA holders have been anticipating the beginning of Cardano’s proof of stake era and its move to become fully decentralized.
Cardano (ADA) prices are oscillating below 10 cents Shelly is the Reward Era. Cardano is right on track, building towards Voltaire Shifting from Byron to Shelly, Cardano is firm on their roadmap.
Cardano is one of the most actively developed blockchains with an ambitious roadmap. Its native ADA token has seen immense growth since launching in 2017. This article explores what’s next for Cardano prices.
Cardano (ADA) has been experiencing a persistent downside trend since the start of 2023; the selling pressure has increased in the past week. However, network development continues to grow and could hint at a reversal for the cryptocurrency.
After losing the crucial $0. 34 price support, Cardano (ADA) has experienced a significant downtrend. In the past 24 hours, ADA has declined by 1. 6%. On the weekly chart, ADA has struggled to recover from an over 8% depreciation.
Cardano’s native token, ADA, has been significantly affected by the recent downturn in the cryptocurrency market, experiencing a notable decline in price. Despite a recent surge of over 6% in the last 24 hours, the bearish sentiment continues to exert its influence.
The Cardano (ADA) price experienced a decline, breaking below the $0. 33 level. This downward movement has resulted in bears gaining control of the market. ADA has lost around 4% of its value in the past 24 hours and has seen a weekly plunge of approximately 10%.
The Cardano price has consistently remained below the $0. 38 zone for the past two weeks, indicating a strong presence of sellers in the market. Despite attempts by buyers to regain strength over the past month, their efforts have been feeble, unable to overcome the bearish sentiment.
The price of Cardano has been following a bearish trajectory for the past couple of weeks. However, in recent trading sessions, there were bullish attempts as buyers tried to push the price higher.
