What is there in the market for the altcoin, ADA that boasts of blockchain 3.0 technology? We can derive some clarity with the technical analysis.
Developed by Ethereum co-founder Charles Hoskinson, the Cardano platform promises an advancement over the existing Alternative Coin such as Ethereum. The development and modification of this crypto-asset are supervised by the Cardano Foundation.
Using the proof-of-stake protocol has brought this cryptocurrency to the limelight and it has seen quite an up move since its initial release in 2017. Given the recent profit booking scenario in the broader crypto market, we will be covering the technical analysis of ADA to determine a stable projection of its momentum in the trading arena.
Cardano price declines below $1.5 Cardano price ADA/USD Chart By TradingView For a short duration since March 2021, the $1.5 benchmark was seen as a resistance and the investors took four attempts to break the resistance. During the brief three months, the prices were stable within the range of $1.5 to $1. The stiff resistance was finally broken on the 6th of May and we witnessed a strong up move.
The profit-booking scenario on ADA coin came much later after the majority of the crypto prices were on a decline. And this is something amazing. While $1.5 acted as a support for a short while, it couldn’t tame the profit booking greed of investors and panic selling by other investors.
Currently, the $1.5 seems like a borderline resistance which can be broken in the intraday momentum. It will be worthwhile to note the price momentum after breaking $1.5. Will it move upwards or succumb to profit-booking is to be speculated.
Will ADA price continue to decline further below $1.2?
STARTLING TRUTH ABOUT CARDANO! (ADA Holders Must PREPARE). Cardano price dipped 60%+ and has consolidated for around one month now. Outside of the zoomed in charts are ADA fundamentals that show how bullish of a cryptocurrency ADA really is. So much is happening across the crypto markets, but no crypto has introduced some of the technology that ADA has built. We discuss all of this alongside zoomed out and zoomed in ADA price.
THIS CARDANO NEWS WILL CHANGE EVERYTHING! (All About ADA Price). This is a little different in terms of Cardano content and data. With so much bullish news for ADA and the Cardano crypto, what opportunity might there be to accumulate and build? Have you ever asked yourself the question of what you would do if the crypto bull market did end and ADA entered a bear market crash? Are you prepared for that scenario. While I do not think that is what is currently happening, I discuss why you should be ready for it.
In this video tutorial, we'll learn WHY CARDANO WILL OVERTAKE BITCOIN!! 🚀 (All ADA Holders MUST WATCH!) (HOT NEWS!!!). What's special about it? Why are so many people looking forward to it?
In this video tutorial, we'll learn CARDANO'S Most Exciting START of 2021 (ADA Getting Even HOTTER). What's special about it? Why are so many people looking forward to it?
Cardano has been on a tear recently, following our previous videos breaking down the use cases, fundamentals, whitepaper, team & road map on this ecosystem I thought I would update you on some of the current price action. That is why today we are spending some time in the ADA/USD chart taking a macro view then zooming into some of the shorter term time frames to better understand where ADA could be headed moving forward.