Tag Archives: Cardano (ADA) Price

It appears that the bears are slowly taking control over the market in the short term as the primary cryptocurrency trades below $20K, and the majority of other coins look indecisive at best. Of course, there are certain exceptions. Bitcoin Losing $20K The $20,000 level is one of significant importance. Apart from being a psychological mark, it also contains technical and fundamental support, being the high of the 2017-2018 bull market. With that said, BTC has been flirting...

Input-Output Hong Kong (IOHK), the blockchain development firm behind Cardano (ADA), confirmed the release date of the Vasil hard fork. It will happen on September 22, contrary to what some developers had speculated. In a series of Tweets, IOHK informed the status of the Vasil upgrade, adding that it would be the most important and complicated upgrade to date as, in addition to bringing greater capacity to the network, it will significantly reduce the cost of transactions....

In today’s overview, we take a closer look at Ethereum, Cardano, Ripple, Binance Coin, and Solana. Ethereum Ethereum might be down 9.1% this week, but it’s recovering well from the latest collapse. The cryptocurrency fell from above $1,800 last Friday and continued to decline during the weekend until it found support at the 50-day MA level. It rebounded from the 50-day MA and started to climb throughout the week. Yesterday, it found resistance at the 20-day MA level and the...

This week, we take a closer look at Ethereum, Ripple, Cardano, Binance Coin, and Dogecoin. Ethereum (ETH) This past week Ethereum broke below its uptrend, which was a major bearish signal, and lost 9.4% in the process. Moreover, today, the bears dominated the charts, and Ethereum lost almost 8.5% of its valuation in less than an hour when the market suddenly crashed. At the time of this post, bulls have managed to stop the downtrend at the $1,700 support level, but bears...

With the upcoming Vasil hard fork, Cardano is expected to see an overhaul on the network. The focus will be on ramping up throughput and smart contract improvements. In a recent report, on-chain analytics platform, Messari observed that Cardano is “priced more aggressively” when compared to other growing ecosystems due to Vasil. It further said the market seems to be expecting significant improvement from the much-anticipated upgrade. Cardano Overvalued? Cardano has been...

Cardano managed to rally by 7% together with the rest of the market once CPI figures showed inflation slowed in the US. Key Support levels: $0.50, $0.45  Key Resistance levels: $0.55, $0.66  US inflation decreased in July to 8.5% compared to 9.1% in June. The market quickly rebounded as soon as these figures were published today. ADA’s price was also quick to react with a 7% rally on the daily chart. Now, the price is again approaching the key resistance at $0.55, and support...

ADA failed to sustain a rally and break the key resistance. Now, the price is dangerously close to a critical support. Key Support levels: $0.50, $0.40  Key Resistance levels: $0.60, $0.75 ADA attempted to rally yesterday, but the price was quickly pushed back to the key support at $0.50. Should this critical level fall, then the cryptocurrency could go all the way down to $0.40. The important resistance sits at $0.60, and Cardano only managed to test this level once when it...

It has already been 240 days of a continuous downtrend for ADA, and it’s not over yet. Despite that ADA formed a promising market structure in March, April’s monthly candle so far is showing a 35% drop. Technical Analysis Technical Analysis By Grizzly The Daily Chart Cardano (ADA) is trading inside a falling wedge (marked orange) on the daily timeframe, which is technically a reversal pattern. Also, the RSI indicator has also reached a level at which the price has started to...

Like the rest of the crypto markets, ADA had recently seen major volatility. The bears were able to push the price down to over 30% since April’s high of $1.25, but on the other hand, the bulls have not yet been able to break out of the descending channel that accompanied the price from the all-time high. Technical Analysis Technical Analysis By Grizzly The Daily Chart: After increasing 60% in March, Cardano holders hoped to reach higher levels. However, the bears took...

Key Support levels: $0.90, $0.79  Key Resistance levels: $1, $1.2 This Monday saw the market open in red, and ADA dropped 5% in a few hours. The support at $0.90 is struggling to prevent the cryptocurrency from falling lower but will likely fail if the selling pressure continues. Should that happen, ADA has good support at $0.79. The resistance at $1 is unlikely to be tested considering the current price action. Chart by TradingViewTechnical Indicators Trading Volume: The...