Cardano is a smart contract platform that is built on the Ethereum blockchain. It is a decentralized open source platform, which is striving to create a highly scalable blockchain designed from the ground up for the needs of the future. Cardano is the vision of IOHK, which is the Cardano Foundation. Both have the same vision, to create a blockchain platform that can scale and be used by the general public. Cardano has been in the news lately because it was recently upgraded from Ethereum to become the next iteration of Ethereum.
I’ve been watching Cardano’s price closely since it began its quest for the #3 spot ahead of Bitcoin and Ethereum. I’ve had a few reasons for tracking the price, hanging on to Cardano as long as I am, but the one thing that made me keep on with Cardano, was the support it has been getting from Twitter CEO Jack Dorsey.
The cryptocurrency market is starting to show signs that it is on the way up. Today, we saw some good news for Cardano (ADA), which has been a solid performer in the last few weeks after initially dropping in price due to the Ethereum hard fork. The project has quietly been working on a big update for its blockchain that includes a new platform called Shelley. Shelley will be the platform used to activate the third phase of the Cardano roadmap.
Summary of the situation
- ADA has risen to $1.70.
- Support is there overnight at $1.34.
- Next target at 2
Today’s Cardano price forecast is bullish, as the market has risen sharply in recent hours, to $1.70 following a higher swing low of $1.34 overnight. Therefore, we expect the ADA/USD to continue to rise in the coming days and break through the $2 barrier. Crypto-currency heat map. Source: Coin360 The cryptocurrency market has been in the green for the past 24 hours. Bitcoin was up 3.65 percent and Ethereum was up 2 percent. Cardano is one of the best performers, with 16% growth. ADA/USD opened at $1.40 after a slightly bearish close yesterday. The bulls then took the initiative and began pushing Cardano price higher, with the next resistance seen at $1.80. If ADA/USD breaks out to the upside, we expect the market to reach new all-time highs next month.
Cardano price movement in the last 24 hours
The ADA/USD exchange rate moved within a range of $1.34 to $1.69, indicating good volatility. Total transaction volume increased 42.7% to $5.5 billion. Meanwhile, the market capitalization stands at $51.4 billion, putting the cryptocurrency in 4th place overall.
Chart 4-Hour ADA/USD – ADA rising above
On the 4-hour chart, we see that the market is moving away from the $1.34 support level that was tested last night, suggesting that a higher high was reached. 4-hour chart ADA/USD. Source: TradingView The general market is beginning to trade with an increasingly bullish price action pattern in recent days. After a pullback from the high of $2.45, the ADA/USD pair lost 60% until support was found at $1. After a sharp rise below $2, ADA/USD retreated to a low of $1.10. From there, a new slightly lower top was reached at the $1.80 resistance, suggesting that the market is poised for a reversal in the coming weeks. The price of Cardano has fallen back at the end of this week and has found support at $1.34, marking a new low. The ADA/USD pair has moved higher and is currently trying to break through the previous high at $1.80. If Cardano can break above $1.80, we could see bullish momentum prevail and push the market price to new all-time highs above $2.45.
Cardano price forecast: Supplement
The price outlook for Cardano is bullish now that a new higher swing low of around $1.34 was established overnight. Therefore, we expect ADA/USD to continue its upward movement in the next 24 hours and break through the $1.80 resistance next week. In anticipation of the continued movement of Cardano price, check out our guides on buying Cardano (ADA), mining Zcash (ZEC) and Litecoin (LTC). Denial. The information provided does not constitute commercial advice. .com accepts no responsibility for investments made on the basis of information provided on this site. We strongly recommend that you conduct independent research and/or consult a qualified expert before making any investment decision.Cardano has been one of the best performing cryptocurrencies over the past six months, surging from under $0.10 at the beginning of the year to over $1.80 by the beginning of April. It’s hard to believe that Cardano is still in the red, but the price drops that have occurred since the end of March have been dramatic. The Cardano price prediction market shows that a lot of people still think that Cardano will surge over the coming weeks. The Cardano price prediction for 2018 is that it will surge to $1.70, which is almost a 30% gain. This makes it one of the best performing cryptocurrencies in 2018, and with a current price of $1.39, Cardano is one. Read more about cardano to $2 and let us know what you think.
Frequently Asked Questions
Will Cardano go to $100?
After a steep price drop in October, Cardano is back in the green and is trading for nearly $0.28. The crypto market recently had a very rough week. Cardano, one of the top coins, was hit the hardest by the sell-off. At the time of writing, ADA is in the red, and it appears more likely that ADA will stay there for some time. While the recent sell-off is likely to be short-lived and the market will bounce back, there is little doubt that ADA will hit a value of $100 by the end of the year.
Will Cardano reach $5?
Cardano is one of the top 10 cryptocurrencies in the world and is currently in the green and trending up. Its crypto price is currently at $0.06 with the market cap at $1.3B and the price has been stable for a couple of weeks at around $0.06. It is currently trading at the $0.11 mark, it has spiked by about 8% in the past 24 hours and is expected to move up to between $0.12 and $0.15. The cryptocurrency is currently trading at a market cap of $1.3B, it is currently ranked in the top 10. The Cardano price is up almost 15% today on the surge in ADA/USD’s price, which has pushed the Cardano price up to $1.69 at this moment. The coin is currently one of the top performing cryptocurrencies, showing strong daily gains. Will the price continue to rise? Or will the price reach $1.70, the price point that is critical to reach before the end of 2018?
Is Cardano a good investment 2020?
Today’s Cardano (ADA) price prediction is a bit different than the norm, since it takes other cryptocurrency movements into account. We’re predicting a spike in the price of Cardano (ADA) to stop around the $1.80 level later today, which will likely be a strong support level in the short-term. This will be followed by a sharp sell-off, eventually dropping Cardano (ADA) to a low around $1.50. When trying to decide whether or not to invest in a given cryptocurrency, it is important to understand the history of that project. In this case, we will be looking at Cardano, which began its journey as an open-source project in September 2014. After several steps by the Cardano Foundation, Cardano officially launched in September 2017, which saw the launch of the Cardano Settlement Layer, the Cardano Computation Layer, and the Cardano Transfer Layer. Today, Cardano is one of the top 5 cryptocurrencies by market capitalization, ranking third worldwide.
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