Cardano (ADA) turned down from $1.59 on Dec. 27 and the price has dipped to the 20-day EMA ($1.39). If the price rebounds off the current level, the bulls will attempt to push the price to the resistance line of the descending channel. The flattish 20-day EMA and the RSI near the midpoint suggest a balance between supply and demand. A break and close above the channel will indicate that the downtrend could be over. The bulls will then try to push the price toward the strong overhead resistance at $2.47. On the other hand, if the price sustains below the 20-day EMA, it will suggest that bears continue to sell on rallies. The ADA/USDT pair could then drop to the strong support zone at $1.18. If this support cracks, the pair could decline to $1.
December 15, 2021
Cardano’s ADA price eyes 30% rally with a potential ‘triple bottom’ setup. The only glitch in the bullish setup, for now, remains the Federal Reserve’s taper acceleration plans. Cardano (ADA) may rally by nearly 30% in the coming days as it forms a classic bullish reversal pattern. Dubbed “triple bottom,” the pattern typically occurs at the end of a downtrend and consists of three consecutive lows printed roughly atop the same level. This means triple bottoms indicate sellers’ inability to break below a specific support level on three back-to-back attempts, which ultimately paves the way for buyers to take over. In a perfect scenario, the return of buyers to the market allows the instrument to retrace sharply toward a higher level, called the “neckline,” that connects the highs of the previous two rebounds. The move follows up with another breakout, this time taking the price higher by as much as the distance between the pattern’s bottom and neckline. So far, ADA’s price has been able to paint the triple bottom halfway, now rebounding after forming the third low.
November 25, 2021
The long tail on the Nov. 16 and 17 candlestick shows that bulls attempted to defend the strong support at $1.87. However, the failure to sustain Cardano (ADA) above $1.87 may have prompted aggressive selling from traders on Nov. 18. The bulls are currently trying to push the price back above $1.87. If they manage to sustain the price above this level, it could trap the aggressive bears. That could start a strong recovery, which may reach the downtrend line. Contrary to this assumption, if the price turns down from the current level or the 20-day EMA ($1.99), it will suggest that sentiment remains negative and traders are selling on rallies. The bears will then try to pull the pair below $1.70, extending the decline to $1.50.
November 19, 2021
Cardano (ADA) turned down sharply on Nov. 16 and broke below the critical support at $1.87 but a minor positive is that bulls did not allow the price to close below it. The long tail on the candlestick indicates that buyers are attempting to defend the support. The bulls are attempting to push the price back above $1.87 on Nov. 17 but higher levels may attract selling. Both moving averages have started to turn down and the RSI has dipped into the negative zone, indicating that bears are in command. If the price turns down from the current level or the 20-day EMA, the bears will try to sink the ADA/USDT pair below $1.75. If they manage to do that, the pair could drop to $1.50. The first sign of strength will be a break and close above the downtrend line.
November 16, 2021
Cardano (ADA) has been trading below the 20-day EMA ($2.06) for the past three days but the bears have not been able to capitalize on this and pull the price to the strong support at $1.87. The flattish 20-day EMA and the RSI just below the midpoint suggest a range-bound action in the near term. If bulls propel the price above the downtrend line, it will suggest that the bears may be losing their grip. The ADA/USDT pair could then rise to the overhead resistance at $2.47 where the bears may again mount a stiff resistance. Alternatively, if the price turns down from the current level, the pair could drop to $1.87. The bears will have to pull the price below this support to signal the start of a downtrend.
November 2, 2021
The bulls have successfully defended the strong support at $1.87 for the past few days but they are struggling to push Cardano (ADA) above the 20-day EMA ($2.07). This indicates a lack of demand at higher levels. The bears will now try to sink the price below the support zone at $1.87 to $1.80. If that happens, the ADA/USDT pair could drop to $1.58. The downsloping moving averages and the RSI in the negative zone indicate that bears are in control. Contrary to this assumption, if the price rises from the current level and breaks above the moving averages, it will indicate strong accumulation at $1.87. The pair could then rally to the overhead resistance at $2.47.
October 14, 2021
Cardano (ADA) broke and closed below the support line of the symmetrical triangle on Oct. 12. This suggests that the uncertainty of the past few days has resolved in favor of the bears. The bulls will try to push the price back above the 20-day EMA ($2.21) but if they fail, the ADA/USDT pair could drop to $1.87. This is a critical level to monitor because if it breaks down, the decline may extend to $1.63. The 20-day EMA has started to turn down and the RSI has dropped below 44, indicating advantage to bears. This negative perspective will be invalidated if bulls push and sustain the pair above the resistance line of the triangle.
September 30, 2021
The bulls pushed Cardano (ADA) above the moving averages on Sept. 25 but they could not clear the hurdle at $2.47. This suggests that bears have not given up and are selling on rallies to overhead resistance levels. The ADA/USDT pair has turned down and the bears will now try to sink the price to the critical support at $1.94. This is an important level for the bulls to defend because if it cracks, the pair could start a downtrend. On the contrary, if the price turns up from the current level or rebounds off $1.94, the bulls will again try to propel the pair above $2.47. If they manage to do that, it will indicate that the correction could be over. The pair could then rally to $2.97.
September 23, 2021
Cardano (ADA) is in a strong corrective phase but the bulls are attempting to arrest the decline at the strong support at $1.94, where they are likely to run into a wall at the 20-day EMA ($2.38). The moving averages are close to completing a bearish crossover and the RSI is in the negative territory, suggesting that bears have the upper hand. If the price turns down from the 20-day EMA, the bears may again challenge the $1.94 support. A break and close below this level could open the doors for a further fall to $1.60. The bulls will have to push and sustain the price above the 20-day EMA to indicate the start of a sustained recovery. The ADA/USDT pair could then rise to $2.60 and later to $2.80.
September 17, 2021
One third-party explorer puts the number of time-locked Cardano smart contracts over 2,000. More than 200 smart contracts have been listed on the Cardano blockchain explorer following the Alonzo upgrade on Monday — but there’s a catch. As of now, the 200 smart contracts listed are in timelock and cannot be used by developers until they’re released. The Vercel App currently puts the number of smart contracts readying to be launched at more than 2,200. Smart contracts have been a long-anticipated feature on Cardano since its launch in 2017, and the functionality was finally enabled with the recent Alonzo hard fork. Charles Hoskinson, founder of Cardano and IOHK, said on Friday that the decentralized finance (DeFi) space is “up for grabs” now that Cardano supports smart contracts. Hoskinson said that the winners of what he called the “second wave” of DeFi were going to have liquidity and interoperability, the ability to move multi-chain and cost predictability. “We need governance, we need certification, we need insurance, we need regulation on these things, metadata identity… at the same time, you need to decentralize,” he said, adding: “The way we constructed Cardano was for that second wave.” There are several notable projects that have smart contracts in timelock or are planning on launching soon, such as GREED, a rewards token redistributing Cardano’s ADA back to holders; Liqwid, an open-source and non-custodial liquidity protocol for interest rate curves; SingularityNET, a platform that lets anyone create, share and monetize artificial intelligence services at scale; and Cardax, the first decentralized exchange on Cardano. Cardano will be Ethereum Virtual Machine-backwards-compatible and is hoping to attract DeFi developers who wish to save money on transaction fees. ADA’s price saw a huge 170% price run-up since mid-July, but it’s currently about 20% down from its all-time high of $3.09 at the start of the month. ADA is currently trading around $2.42.
September 7, 2021
The bears have thwarted several attempts by the bulls to push Cardano (ADA) above the $2.97 to $3.10 overhead resistance zone. The negative divergence on the RSI also indicates that the bullish momentum is slowing down. The ADA/USDT pair could drop to the 20-day EMA ($2.65), which is likely to act as a strong support. If the price rebounds off this level, the bulls will again try to propel the pair above the overhead zone. If they succeed, the pair could start its journey toward $3.50. On the other hand, if the price breaks below the 20-day EMA, the pair may drop to $2.47. A bounce off this level could keep the pair range-bound between $2.47 and $3.10 for a few days. A break below $2.47 will signal a possible change in trend.
September 3, 2021
Cardano (ADA) is currently consolidating between $2.97 and $2.47. The price had dropped to the breakout level at $2.47 on Aug. 26, but the sharp rebound off it on Aug. 27 shows that bulls have flipped the level into support. A consolidation near the all-time high is a positive sign as it shows that traders continue to buy on dips. Both moving averages are sloping up and the RSI is near the overbought territory, indicating that the path of least resistance is to the upside. If buyers drive and sustain the price above the psychological barrier at $3, the ADA/USDT pair could resume its uptrend. The next target objective on the upside is $3.50. Contrary to this assumption, if the price turns down from the $2.97-to-$3 resistance zone, the pair may extend its stay inside the range for a few more days. A break and close below $2.47 will suggest that the bullish momentum has weakened. The RSI on the four-hour chart has formed a negative divergence, indicating that the upward momentum may be slowing down. If bears pull and sustain the price below the 50-day simple moving average, the pair may drop to $2.47. A strong bounce off this support could keep the pair range-bound between $2.47 and $2.97 for some time. The bears will have to sink the price below the $2.47-to-$2.31 support zone to gain the upper hand. Alternatively, the uptrend may resume if bulls drive and sustain the price above $2.97.
July 29, 2021
The long wick on Cardano’s (ADA) July 26 candlestick suggests that traders are selling on rallies. The bears tried to pull and sustain the price below the 20-day EMA ($1.25) on July 27 but failed, indicating buying at lower levels. This may have reinvigorated the buyers who are again trying to push the price above the 50-day SMA ($1.33). If that happens, the ADA/USDT pair could gradually rise to $1.50. This level may pose a stiff challenge for buyers but if they can overcome it, the pair could start its northward journey toward $1.94. Conversely, if the price turns down from the current level or the overhead resistance and slides below $1.20, it will indicate that bears continue to sell at every higher level. That may result in a retest of the critical support at $1.
July 20, 2021
Cardano (ADA) closed below the $1.19 support on July 16. The bulls tried to trap the bears and push the price back above $1.19 on July 18 but failed to sustain the higher levels. This suggests that bears continue to sell at rallies. The bears have renewed their selling today. If sellers sink the price below $1.10, the ADA/USDT pair could retest the critical support at $1. This level has held on several occasions in the past few months, hence the bulls will again try to defend it aggressively. A strong rebound will indicate accumulation at the $1 support. On the other hand, if bears pull the price below $1, long liquidation may occur. That could open the doors for a further decline to $0.80 and then $0.68.
July 13, 2021
Cardano (ADA) has been trading between the 20-day EMA ($1.37) and the horizontal support at $1.28 for the past three days. This tight consolidation suggests that both the bulls and the bears are waiting for a clear direction before placing large bets. Both moving averages are nearly flat and the RSI is above 44, indicating an equilibrium between buyers and sellers. This advantage will tilt in favor of the bears if the $1.28 support gives way. That will clear the path for a possible drop to $1.20 and then $1.10. On the contrary, if the price rebounds off $1.28, the bulls will try to drive the price above the 20-day EMA. If they succeed, the ADA/USDT pair could rise to the 50-day SMA ($1.47) and then to the downtrend line. A break above this resistance will be the first sign that the correction may be over.
March 23, 2021
Significant price action can also be expected from Cardano (ADA), which has rapidly burst into the list of leading altcoins by adding to Coinbase Pro, as well as adding a token to Bloomberg terminals. This news indicates the potential for growth in the use of the rival Ethereum token by professional investors. In February 2021 alone, ADA jumped in price by almost 300%.
March 17, 2021
Cryptocurrency Cardano (ADA) jumped 20% on Tuesday after the announcement of its upcoming listing on the Coinbase crypto exchange. ADA ranked fourth in the ranking of cryptocurrencies in terms of capitalization. In February, Cardano is up nearly 300%. On Wednesday, the ADA hit the previous day's highs to reach $ 1.26, but is still below its all-time high of $ 1.45 on Feb.27. Coinbase has already started accepting incoming transfers to ADA and will open trading on March 18, subject to liquidity requirements. The cryptocurrency is being added to the professional trading platform Coinbase Pro. Coinbase.com retail portal and ADA mobile app will not be available for purchase at this time. Bloomberg added ADA to its terminal last week. Reportedly, only a description of the cryptocurrency was added, without the ability to track its rate. Bloomberg also published an article on Sunday about Cardano's success in the market.
July 9, 2020
Cardano (ADA) grew by 40% in a week, moving Litecoin to 7th place in the list of largest cryptocurrencies of CoinGecko portal. ADA growth has been seen amid preparations for the launch of the Shelley update on the core network. It will be held on July 29 and, as expected, will significantly increase the decentralization of the blockchain.
April 27, 2020
I hate to say it, but I think Cardano isn’t going anywhere. Ever since the ADA summit, i think investors are very disappointed with not only the zero news, but lack of professionalism. At the end of the summit, Charles even committed animal abuse with the box full of butterflies. I don’t think any CEO on this planet would ever try to pull such a ridiculous stunt, and it lost a lot of credibility for the project. ADA will fall out of the top ten as the market continues to decide who stays and who must go.
April 14, 2019
Cardano is about to have their first ever blockchain summit next week. This is going to be held in Miami, which is really an amazing place to host such a blockbuster event. I can never say enough positive things about ADA, but this upcoming conference is about to gain so much momentum for the prject, community and coin. Basically they’re about to announce a whole lot of partnerships, future roadmap, staking details, and maybe even a first glance at Shelley mainnet. This is going to bee a bright month for ADA.
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