Cardano [ADA] Technical Analysis and Price Prediction 2018, 2020
Cardano [ADA] has failed to fend off crypto bears currently plaguing the broader market. Cardano [ADA] experienced a sharp decline earlier this week, and has since been attempting to recover. However, the crypto is back in a downtrend and struggling to maintain upside momentum.
The coin has failed to break out from the current resistance level, which can be found at $0.104. The virtual currency breached a major support level, noted at around $0.102, and has since slipped to as low $0.097.
The 100 EMA line currently shows that the crypto is in a downtrend. The MACD indicates that the digital asset is steadily making its way into bearish territory after spending most of the day in the bullish zone. ADA is exhibiting a significant trading range of $0.095-$0.113. As of 2330 GMT, the coin was had dropped 7.6 percent against the U.S. dollar to trade at $0.101.
At the time of writing, one ADA was is equivalent to 0.000016 BTC and had slid 5.6 percent against BTC.
Cardano [ADA] Latest Updates
- Emurgo, Cardano Foundation’s venture capital partner, recently launched Yoroi – a light wallet that runs on the Cardano blockchain. Ken Kodama, Emurgo’s CEO and also among Cardano’s founders, made the announcement on YouTube, explaining the wallet’s features including speed, simplicity and security.
- Charles Hoskinson, Cardano’s creator, jumped the gun and announced details about the Foundation’s next project a day early. The upcoming venture involves an extension of Google Chrome known as Icarus.
ADA Price Prediction 2018, 2020
- According to Smartereum, the one-year forecast for ADA is around $2.5. Experts believe the coin could as high as $10 in five years. Experts have also forecast that the market cap of the crypto could rise to about $40 billion by the end of this year.
- Longforecast.com expects the coin to reach $1.89 by December 2020, which is quite a conservative forecast and seems to be less optimistic than other predictions.
- Oracletimes.com author Pedro Bernardo has predicted that ADA’s price could climb to around $1.50 by the end of this year.
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