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Cardano (ADA) entered the world of cryptography in September 2017. Since then, ADA has experienced tremendous price movements, which have reached their highest level and have been reduced to 90% of their current level. . Four months after its launch, ADA gained 1,520% in value and its market capitalization also reached $ 18 billion.
The Cardano blockchain applies a scientific strategy with a methodology based on research. ADA's open source technology is subject to an extensive peer review process, conducted jointly by scientists and inventors.
The current price of Cardano
The day after registration, the price of the coin had jumped 11% at the time of writing this article. The market capitalization of ADA has also increased to $ 1.3 billion. The altcoin is currently trading at $ 0.05 with a trading volume of $ 49 million over 24 hours. You can see the current prices on Coinmarketcap or the ADA trading page on Binance.
The 11% gain represents a four-day high for this altcoin that gained momentum during the week. Binance holds most of ADA's trading volume at 27.26%, representing $ 32.624 million. Upbit is closely behind at $ 30.607 million.
The coin has gained momentum over the past few weeks and although the ADA has dropped 50% in recent months due to continued market gloom and the latest upward trend, ADA has risen by 4% a period of 24 hours. In addition, the Cardano management has announced the launch of IELE (a Cardano virtual machine), which allows Cardano customers to easily develop programming applications via the Cardano blockchain.
Cardano also comes from the launch of the Infinito portfolio, which replaces the Daedalus portfolio. The Infinito Wallet is a mobile application that greatly facilitates the deposit and receipt of ADA tokens, as well as the display of transaction history. Daedalus' portfolio has been criticized for being too cumbersome to use. The launch of the Infinito portfolio will undoubtedly improve the adoption and use of Cardano.
According to rumors, Internet Online Hong Kong (IOHK) and the Cardano Foundation are about to invent a widely accepted payment system by ADA, in addition to collaborating to develop solutions to the world's most difficult problems. of the blockchain.
Given that ADA is among the top eleven crypto-currencies, a market recovery would certainly increase the price of its parts, as well as BTC and ETH. The combination of an increase in the overall market and ADA's technical progress could propel the room to serious multiples. We believe that it is possible to obtain a 4-5x result by the end of the year with these factors; but he will not do it alone. The whole market, led by Bitcoin, will have to come.
ADA could reach $ .50 by the end of the year?
Taking into account the recent trend of the cryptography market, almost every digital currency is gaining value, some have risen sharply while others seem to be heating up for the impending bulls of the market. Regarding the statement above, on September 21, 2018, ADA has increased by 12% in 24 hours. This trend further increased the value of the currency on the weekly chart by 19%.
If you take a close look at historical ADA maps, especially in the previous quarter, you will notice that at a time like last year, the value of ADA was estimated at around $ 0.020. The ADA's current price is $ 0.050, four times better than last year, but ten times lower than its record level.
Regardless of its current value, Cardano presents to the blockchain sector some inventions that can not be ignored. For example, Cardano is one of the few cryptocurrencies with a strong team of scientists and developers who review and strive to improve the project. Any cryptography expert will agree with me that this is what makes a currency reliable.
With the release of IELE, which is expected to offer the use of intelligent contract technology to the Cardano chain of chains simplifying the process of inventing dApp, ADA is expected to become more popular among crypto enthusiasts and investors. This will be further strengthened by the release in October of Trezor's hardware portfolio, which will provide further support to ADA.
Once these projects have been successfully implemented, ADA could bounce around a quarter of a dollar ($ 0.25) in parts prices. And this forecast was confirmed this week by the successful deployment of the main network 1.5 of the platform.
Next outing Shelly
There is a lot of buzz around Cardano right now and his contribution has been decisive for its price. The platform has just deployed its main 1.5 network, which brings it closer to the release of Shelley. If the last price movement we have seen since the altcoin is any other choice, the release of Shelley will be mbadive at the price of ADA.
Shelley will make Cardano a blockchain truly decentralized and powerful at the same time. Indeed, it will be the first proof-of-custody evidence blocking chain that is at the same level of security as Bitcoin's POW, but without the energy problems that hinder POW systems.
In addition, the new protocol will make Cardano attractive to dapper developers because of two key features; security and resistance to censorship.
Check out our guide for how to buy ADA on Binance here.
Technical perspectives
Here is a LONG TradingView card from Cardano by DanielAdam that indicates that the start of the ADA bull race might have started and that the last resistance could be at 1400.
The badyst says that we have already seen the 50 MA gold cross on 200 MA daily since March 15 and that we observed today a bullish cross that confirms the uptrend.
Now there are only two resistors left, one at 1350 and the other at 1375-1400, to break. After that, there is no other serious resistance until the 1800-2000 levels. However, with the RSI so dangerously high, the badyst expects a downturn of at least one slowdown after or beyond the 1350 resistance level. But with Shelley, the Cardano top and other important updates at the corner of the street, the altcoin might be preparing to go to the moon.
Learn how to trade on BitMex for Bitcoin and Cardano ADA
Analysis of experts
According to a CRYPTOGLOBE badyst, ADA is expected to increase, but could meet resistance at the $ 0.070 level. The coin has already exceeded the previous range of $ 0.040 and $ 0.045 to a maximum of $ 0.054. He also predicts that the average trend will be bullish with resistance levels of $ 0.080, $ 0.090 and $ 0.100. Support levels: $ 0.050, $ 0.040, $ 0.030.
In addition, the price of ADA is higher than the EMA, which means that it will probably increase. Recently, the price of the coin has reached highs and lows, the uptrend continues if the trend line has not been shattered by the price.
If a candlestick has to break the trend line and another one closes in front of it, the current trend will be over. Meanwhile, the stochastic seems to be in the overbought zone, but more than 80%. This is a clear indicator that the price of the ADA is in a bullish momentum and a buy signal.
Feeling of the market
Here are the long-term, medium-term, and short-term prospects for the ADA / USD pair:
· Long term – bullish
· Medium-term – bullish
· Short term – bullish
Conclusion and purchase of Cardano ADA
Cardano advanced over the bear market with respect to its technical roadmap and its application to current use cases. This is a good thing and should come to support the price of the coin if we witness a full recovery of the market. Lovers of Cardano's possibilities probably did not disappear, the price of the coin having fallen; the support of the community and investors should come back with confidence.
If we see Bticoin recover and return to levels above $ 10,000, Cardano should also bring Cardano to yield levels ranging from 2 to 4x, heading towards a year-end price of between 0.15 and 0. , 3 USD. The latter seems to be a good side.
For those interested, the easiest way to get Cardano ADA is to use Binance's trading platform. BitMex also offers Cardano ADA trading as well as other features such as leveraged trading.
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