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With respect to the main markets of cryptography, there is no notable gain to report. There are also no spectacular losses to consider, although this does not necessarily mean that these markets are well positioned for the moment. The Cardano price has risen the highest of all the top 15 markets so far, which seems to indicate that a lot of interesting things are happening in this market right now.
Cardano Price Momentum Improves Significantly
It is not unusual for most of the major crypto markets to get off to a difficult start. This situation has been in place for some time now, a direct result of the 2018 bear market. Even at the beginning of 2019, this bearish pressure still seems to be hanging over his head for some reason. Cardano is not affected by this particular development at the moment, which is promising in itself. The continuation of this uptrend will be different, with the next weekend.
To put this in perspective, the Cardano the price rose 5.7% in USD and BTC. This in itself is rather interesting to watch, mainly because many other major markets are gaining 1.5% or less. The current value of Cardano is approaching the $ 0.05 level, which could prove to be a new level of support or a major hurdle. One or the other scenario is still in play right now.
On social media, the general ledger support for Cardano is apparently much less important than the real price charts. This is the sign that this bullish race could stop quite quickly. Crypto Wunderbear expects this race to improve again, provided that Bitcoin does not spoil the party. It is obvious that Cardano relies heavily on Bitcoin, which can be very problematic in the long run.
Let's go $ ada – Do you like it? #bitcoin do not waste it by one of your random deposits! $ btc #cardano pic.twitter.com/eZQTteoOLf
– Crypto Wunderbaer | maximalist cardano (@Wiiinnie) March 15, 2019
Nerubica, on the other hand, remains a little comfortable as to how this prize will be played. Given the fact that there is nothing that can be too exciting at the moment, it seems that this little boost can easily be crushed. The volume of ADA's transactions is also far from impressive, although this particular aspect is of little concern to merchants and cardholders in recent months. With the $ 0.05 level handy, trading volumes may only experience a slight surge in the next few days.
#ADABTC – #Cardano, ready for hatching? – #ADABTC chart https://t.co/w3UTZRij6N
– Nerubica (@NerubicaCrypto) March 15, 2019
Some traders are still trying to make the most of the current situation. BitcoinBethke, for example, expects the ADA to reach 1m330 Satoshi, which would require a further 7% increase from the current level. However, this user also indicates that it is a short-term target, which may result in a further decrease shortly thereafter. Crypto-currencies are primarily volatile, Cardano being no exception in this regard.
Gold cross on $ ADA #cardano? Let's go! Short-term target 1330-1390 then moon. pic.twitter.com/SZRqabyWiA
– BitcoinBethke (@NanoMaximalist) March 15, 2019
While it is somewhat promising to see the value of Cardano increase while other markets are struggling to develop, taking a step ahead is never a good sign either. At the moment, the lack of high transaction volume and the emphasis on price, rather than actual developments, can make it a fairly short-lived uptrend as long as Bitcoin remains on shaky legs. This could however be a very interesting market to watch this weekend.
Disclaimer: This is not a trading or investment advice. The above article is for entertainment and educational purposes only. Please do your own research before buying or investing in cryptocurrency.
Image (s): Shutterstock.com
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