Cardano [ADA] tries to give a push back to the market crash with multiple developmental announcements

The bear attack has been quite the juggernaut with several cryptocurrencies seeing their supports break consistently. Cardano [ADA] which has felt the bear’s pressure too, has been on quite the developmental roll.
Just recently, Charles Hoskinson, the CEO and Founder of IOHK informed users about the upcoming 1.4 and Shelly update for the Cardano 1.4 network. Hoskinson had said:
“The update 1.4 for Cardano is coming along well and we’re in regression testing right now. We’ve had a few regressions but nothing significant is found yet and it’s a lot of new code. There has been a huge amount of refactoring on the core, and we’ve found new database solutions, so we’ve gone from lots of storage to little storage and become much more efficient.”
The computer scientist had also given his thoughts about the new appointees to the Cardano Foundation. Hoskinson’s comment comes in the wake of the appointment of Pascal Schmid as the interim Chairman of the Foundation Council. In Hoskinson’s words:
“What this means is that at the moment Pascal is the current custodian of the Foundation and will be in charge of the transition to reinvigorate and reconstruct the Foundation. There are a lot of things that have to be done between now and when the foundation can become effective as an entity.”
The IOHK official also stated that he would like to see IOHK and Emurgo working together and that might be a possibility in 60 days. He also added that it would be great to see diversity and community management with large grants and the hundreds of thousands of dollars being given to many different organizations. According to Hoskinson, these organizations can then be responsible for building Cardano communities all across the planet.
The post Cardano [ADA] tries to give a push back to the market crash with multiple developmental announcements appeared first on AMBCrypto.
Source: AMB Crypto

Cardano Price Analysis: ADA/USD Accelerating Losses Below $0.060

Key Highlights

ADA price extended losses below the $0.0620 and $0.0600 support levels against the US Dollar (tethered).
There was a break below a connecting bullish trend line with support at $0.0614 on the hourly chart of the ADA/USD pair (data feed via Bittrex).
The pair is currently trading well below $0.0600 and it could continue to move down in the near term.

Cardano price fell significantly recently against the US Dollar and Bitcoin. ADA/USD is likely to decline further towards the $0.0530 level.
Cardano Price Analysis
In the last analysis, we discussed that cardano price could extend losses below $0.0620 against the US Dollar. The ADA/USD pair did decline recently and traded below the $0.0620 and $0.0600 support levels. There was even a close below the $0.0600 support and the 100 hourly simple moving average. The last swing high was formed near $0.0640 from where the price started a solid decline.
During the drop, there was a break below a connecting bullish trend line with support at $0.0614 on the hourly chart of the ADA/USD pair. More importantly, the price traded below the last swing low of $0.0579. The next support is at $0.0560, which is the 1.236 Fibonacci extension level of the last wave from the $0.0579 low to $0.0649 high. The current price action is super bearish below $0.060. Thus, there are high chances of more losses towards the $0.0535 level. It represents the 1.618 Fibonacci extension level of the last wave from the $0.0579 low to $0.0649 high.

The chart indicates that ADA price settled below a few key support at $0.0600 and the 100 hourly SMA. To recover, the price must climb above $0.0600, $0.06200. If buyers fail to gain traction, the price will most likely slide below $0.0550 in the near term.
Hourly MACD – The MACD for ADA/USD is gaining strength in the bearish zone.
Hourly RSI – The RSI for ADA/USD is currently below the 30 level.
Major Support Level – $0.0550
Major Resistance Level – $0.0620
The post Cardano Price Analysis: ADA/USD Accelerating Losses Below $0.060 appeared first on NewsBTC.
Source: New feedNewsBTC.com

Cardano [ADA] 1.4 update to be released by end of November or early December

Cardano’s Charles Hoskinson, the CEO of IOHK did an AMA [Ask Me Anything] on YouTube on November 17. He spoke about the upcoming 1.4 and Shelly update for Cardano 1.4.

Hoskinson said:
“The update 1.4 for Cardano is coming along well and we’re in regression testing right now. We’ve had a few regressions but nothing significant is found yet and it’s a lot of new code. There has been a huge amount of refactoring on the core, and we’ve found new database solutions, so we’ve gone from lots of storage to little storage and become much more efficient.”
He continued saying that the biggest development that has happened is in the wallet backend. Moreover, Hoskinson confirmed that it was the first piece of formally verified code that they’ve had.
Hoskinson further confirmed that the development cut-off was a few weeks ago and that they were working their way through the QA which is being led Alan McNicholas, the head of the QA department at IOHK and his team.
Hoskinson stated:
“The update won’t be taking much longer, I’d say a few more weeks and hopefully we should have the update 1.4 release by end of November or early December. And it’s the most significant update we’ve ever made to the Cardno ecosystem.”
The Cardano 1.4 update is the foundation for the new wallet’s backend. Hoskinson had previously explained that the current Cardano SL code was never meant to be something that is long-term. He also mentioned that the existing code will be heavily changed and refactored to drop dependencies and make architectural changes.
Charles Hoskinson added:
“After the 1.4 update, every update is going to be Shelley related so the first major update will be basically some new code for Ouroboros BFT and that’ll get us all aligned up so that we can start moving towards some variant of Ouroboros.”
He said that there were five different teams that were using the test implementations of Ouroboros in different capacities and that they’ve published a paper on e-print for Ouroboros.
The post Cardano [ADA] 1.4 update to be released by end of November or early December appeared first on AMBCrypto.
Source: AMB Crypto

Cardano [ADA/USD] Technical Analysis: Cryptocurrency price falls to yearly low as bear continues to enjoy its spoils

The bear attack has not been pretty to watch with several cryptocurrencies crumbling under the pressure. Even popular cryptocurrencies such as Bitcoin [BTC], Ethereum [ETH] and Cardano [ADA] were not spared from the ruthless attack, with some coins even breaking their price supports.
1-hour

The one-hour chart shows Cardano’s [ADA] price moving sideways after a freefall from the top. The downtrend saw the price drop from $0.0743 to $0.061. The support was broken recently, with the price falling to its yearly low of $0.0581. The resistance has been holding at $0.0824.
The Bollinger band has undergone a slight divergence, with the size of the Bollinger cloud increasing, indicating multiple trend changes.
The Chaikin Money Flow has taken a hairpin turn towards the zone of the graph, which is a sign of the money outflow increasing. The indicator staying above the axis shows that ADA is reaching out to the bull’s realm.
1-day

The Cardano one-day chart shows the grave situation of the cryptocurrency falling to its lowest value in over a year. The new support right now is at $0.061, with the downtrend taking the coin falling from $0.174 to $0.061.
The MACD indicator points to the signal line moving downwards while the MACD line has become one with the axis. The bear maul has also affected the MACD histogram, almost making it tend to zero.
The Awesome Oscillator has reflected the bear attack, with the market momentum almost negligible now.
Conclusion
The support break has done Cardano no favors with the AO, CMF and the MACD all pointing to a continued bear run.
The post Cardano [ADA/USD] Technical Analysis: Cryptocurrency price falls to yearly low as bear continues to enjoy its spoils appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC], XRP, Ethereum [ETH] and Cardano [ADA] get destroyed by the bear’s all-out attack

The bear attack on November 14 saw a lot of the cryptocurrencies crumble under the bear pressure which also coincided with multiple support breaks. Bitcoin [BTC] faced the bear’s first wave of attack, with the cryptocurrency plummeting below the all-time psychological support of $6000.
At the time of writing, Bitcoin was still languishing below $6000 combined with its market cap going under $100 billion. Just prior to the drop, Jihan Wu, the Chief Executive Officer [CEO] of Bitmain had tweeted:
“I have no intention to start a hash war with CSW, because if I do 9by relocating hash power from btc mining to bch mining.btc price will dump below yearly support; it may even breach $5000. But since CSW is relentless, I am all in to fight till death!”
Another coin that shared Bitcoin’s fate was Cardano [ADA], which saw it crash to its lowest price point in over a year. Cardano was also in the news recently when the ADA team conducted an Ask Me Anything [AMA] session to talk about the reward schemes in their stake pools.
One user asked about staking ADA using a Ledger hardware wallet and Raspberry Pi computer. To this, Jonne33, a Reddit user stated:
“Once delegated you can put your ada on Ledger or even on a paper wallet. You don’t need to be online after that (ie you don’t need raspberry pi or something). Raspberry Pi can be used initially for accessing your Ada and delegating it via Linux Daedalus client (still in development) or via different light wallets which are popping up currently.”
Ethereum [ETH] and XRP also felt the ripple from the price drop with XRP taking over Ethereum in terms of market cap. Both the cryptocurrencies witnessed double-digit weekly losses where Ethereum slid by 12% while XRP fell by a significant 18%.
The post Bitcoin [BTC], XRP, Ethereum [ETH] and Cardano [ADA] get destroyed by the bear’s all-out attack appeared first on AMBCrypto.
Source: AMB Crypto

Bear attack: Bitcoin Cash [BCH], Tron [TRX], Litecoin [LTC] biggest losers, Bitcoin [BTC], XRP and XLM most resilient

The market has been seeing a generally bearish downturn as the date of its historical bull run draws closer. Even as the space continues to see interesting developments in terms of custody solutions, market maturation and the entry of institutional developments, the market continues to not shake off the strong grip of the bear’s hold.
Even this week, the market is experiencing a general downward trend, generally owing to the lack of market momentum seen in the Bitcoin [BTC] market in particular.
#1 Bitcoin Cash [BCH]:
Bitcoin Cash has undoubtedly been the star of the media’s eye, as its upcoming hard fork has everyone in the crypto-space looking. However, as a consequence of its astronomic rise last week, the coin is now experiencing a retracement of 15.6% in the red zone, making BCH the biggest loser in this week’s bearish experience.
It is currently experiencing a loss of 2.6% over the past day with a trading price of $524 and a market cap just under 1/10th of Bitcoin at $9.1 billion.
#2 Tron [TRX]:
Tron [TRX] is the second biggest loser this week with a loss percentage of 9.99% over the timeframe, with a 2.6% loss continuing into the 24-hour zone. The coin is trading at $0.02 with a market cap of $1.4 billion, putting its position on CoinMarketCap right below that of USD Tether.
#3 Litecoin [LTC]:
Litecoin is the 3rd largest loser this week with a 9.4% loss over the past 7 days culminating in its loss today of 1.1%. This puts it at a price of $50.2 with a market cap of $2.9 billion.
#4 Cardano [ADA]:
Cardano is also experiencing a heavy loss of 8.4% over the week and 3% over the past 24 hours, reducing its price to a low of $0.07. This puts its market cap at $1.8 billion and makes it the 4th biggest loser in the bearish race downwards.
#5 EOS:
EOS is close behind, as the coin has only recently lost its position and is now at #6 by market cap. It is trailing XLM’s market cap by $100 million, with a market cap of $4.7 billion and a price of $5.2. It is undergoing a loss of 8.3% over the week, with a loss of 2.4% over the past 24 hours. This puts it at the position of being the 5th largest loser over the week.
#6 Monero [XMR]:
Monero is another coin that seems to be resilient to the bear’s attacks, with its loss coming in the middle of the pack at 6.5% over the week. However, it has undergone only a 0.5% loss over the past 24 hours, putting its price at $104 with a market cap close behind Cardano’s at $1.7 billion.
#7 Ethereum [ETH]:
The second largest cryptocurrency, Ethereum, has begun experiencing a general downward spiral to see a bounce off the $200 mark yet again. It is currently undergoing a loss of 5.2% over the past week, with a 1.2% loss over the past 24 hours at a price of $206 and a market cap only $900 million past its closest competitor at $21.3 billion.
#8 XRP:
XRP seems to be building up positive sentiment, as seen by the variety of good news for the HODLers of the coin. However, the price is not reflecting the same, as it has observed a 1.4% slide over the day, adding to its weekly loss of 4.4%. This marks its place as the 3rd lowest loser over the time period, with its current price of $0.50 and a market cap of $20.4 billion.
#9 Bitcoin [BTC]:
The #1 cryptocurrency has not presented any of its characteristic knife drops or shooting star-esque growth over the past 2 months, leading many to believe that traders are slowly leaving the market for greener pastures.
The coin is down by 2.75% over the past week, with a slow decline of 0.38% over the past 24 hours. It is currently resting at a price of $6531, with an undisputed market cap of $110.3 billion. It is hence the second lowest loser over the past week.
#10 Stellar Lumens [XLM]:
Stellar Lumens has been the coin with the most armor against the bear’s attacks, it seems, leading to a loss of only 2.3% over the past week, making it the lowest loser. However, the coin is undergoing a loss of 5.2% over the past day and is now at a trading price of $0.25 and a market cap of $4.8 billion.
The crypto-market might be set for another recovery rally. However, all the market seems to want is the volatile market movement seen by the coins before this period of extended non-volatility.
The post Bear attack: Bitcoin Cash [BCH], Tron [TRX], Litecoin [LTC] biggest losers, Bitcoin [BTC], XRP and XLM most resilient appeared first on AMBCrypto.
Source: AMB Crypto

Cardano Price Analysis: ADA/USD Could Extend Declines To $0.072

Key Highlights

ADA price failed to stay above the $0.0760 support and extended losses against the US Dollar (tethered).
There was a break below a key bullish trend line with support at $0.0760 on the hourly chart of the ADA/USD pair (data feed via Bittrex).
The pair may perhaps continue to move down towards the $0.0730 or $0.0720 support.

Cardano price is slowly moving lower against the US Dollar and Bitcoin. ADA/USD could accelerate declines towards the $0.0720 support in the near term.
Cardano Price Analysis
Recently, cardano price settled below the $0.0800 support level against the US Dollar. It resulted in a fresh decline and the ADA/USD pair declined below the $0.0780 support and the 100 hourly simple moving average. During the decline, the price traded below the 50% Fibonacci retracement level of the last major wave from the $0.0703 low to $0.0820 high.
More importantly, there was a break below a key bullish trend line with support at $0.0760 on the hourly chart of the ADA/USD pair. The pair settled below the $0.0760 support, which is a short term bearish sign. The next support is near the $0.0730 level. It represents the 76.4% Fibonacci retracement level of the last major wave from the $0.0703 low to $0.0820 high. Below $0.0730, the price will most likely decline towards the $0.0720 support area. If there is an upside correction, the $0.0760 level and the 100 hourly SMA are likely to act as hurdles. Above the $0.0760 resistance, the price may resume its upward move.

The chart indicates that ADA price moved into a short term bearish zone below the $0.0760 support and the 100 hourly SMA. If buyers struggle to push the price back above $0.0760 and $0.0762, there could be more losses towards $0.0720.
Hourly MACD – The MACD for ADA/USD is placed heavily in the bearish zone.
Hourly RSI – The RSI for ADA/USD is currently attempting a recovery from the 30 level.
Major Support Level – $0.0720
Major Resistance Level – $0.0762
The post Cardano Price Analysis: ADA/USD Could Extend Declines To $0.072 appeared first on NewsBTC.
Source: New feedNewsBTC.com

Cardano [ADA/USD] Technical Analysis: Bulls look ready to push price upwards as coin is set to test bearish pullback

Cardano [ADA] has done well to find support levels in its recent recovery run, regaining the price range in the mid $0.070s. This has resulted in a formation indicative of a bounce upwards, a claim that seems to be backed up by the technical outlook for the coin.
1 hour:
An uptrend is seen from $0.0608 – $0.075, demonstrating the sharp upward movement by the price, suggesting a clash with the downtrend from $0.082 – $0.077. Support levels are visible at $0.068 and $0.075, with the latter providing the price with momentum to test the $0.078 resistance.
The Aroon indicator shows that a trend reversal is in progress, with the downtrend decreasing in power as the uptrend witnesses a sharp hike.
The MACD is set for a bullish crossover.
The Klinger Volume Oscillator is demonstrating a bullish crossover with a continued upward movement.
1 day:
In the long-term outlook, an uptrend is visible from $0.063 – $0.07 – $0.076, with the dominant downtrend showing price movement from $0.037 – $0.076. A support level is seen at $0.063, with the coin yet to set resistances at $0.089, $0.181 and $0.37.
The RSI shows that buying and selling pressure have stabilized in the market.
The Relative Vigor Index is demonstrating a bearish crossover.
The Parabolic SAR is bullish.
Conclusion:
The general outlook for Cardano’s price is bullish and might see the coin test the resistance levels it struggled with during its recent hike. The first resistance to be tested will be at $0.078, with further resistances at $0.089 and $0.181.
The post Cardano [ADA/USD] Technical Analysis: Bulls look ready to push price upwards as coin is set to test bearish pullback appeared first on AMBCrypto.
Source: AMB Crypto

5 Coins Coinbase Likely to Add Next

CoinSpeaker

5 Coins Coinbase Likely to Add Next

At the advent of an excessive Coinbase expansion, Coinspeaker worked out the list of digital coins that are expected to broaden the exchange’s offering next.

5 Coins Coinbase Likely to Add Next

Continue reading at Coinspeaker
Source: CoinSpeaker

Cardano [ADA/USD] Technical Analysis: Bear to stay in the market for a longer duration

Cardano [ADA], the eighth-biggest cryptocurrency in the market, has been sparking green on a constant basis in the market, despite the lack of new announcements. However, the coin has failed to show its continuous support to the bull after the race, which took place at the beginning of this month.
According to CoinMarketCap, the cryptocurrency was trading at $0.075 with a market cap of more than $1 billion. The coin had a trading volume of more than $20 million and had seen a gain of 4.94% in the past 7 days.
1-hour:
Cardano [ADA] one-hour price chart | Source: Trading ViewIn the one-hour chart, the coin showed a downward trend from $o.077 to $0.075. It also displayed an upward trend which started at $0.0744 and ended at $0.0748. The coin has a strong resistance at $0.078 and an immediate resistance at $0.0754. Nonetheless, the coin has a strong support at $0.0744 ground and an immediate support at $0.0746.
The Chaikin Money Flow showed that the bull could take over the market.
Parabolic SAR showed that the dots have started to align below the candlesticks, predicting a bullish run to take place soon.
The Bollinger Bands were contracting at the time of writing, displaying a less volatile market. 
1-day:
Cardano [ADA] one-hour price chart | Source: Trading ViewIn the one-day chart, ADA displayed a downward trend from $0.172 to $0.081 and an upward trend from $0.071 to $0.076. The cryptocurrency showed that there was a tough battle ahead as it had to breach the immediate resistance, which is set at $0.086 and the strong resistance, which is set at $0.107. If the strong resistance is breached, then the next resistance is set at $0.172
The RSI indicator showed that the selling pressure and the buying pressure of the coin are evening out each other.
MACD showed that the moving average line was above the signal line. However, the line was converging and showed that it could dive below the signal line, forecasting a bearish weather.
The Klinger Oscillator was on the bear’s side, as the reading line was below the signal line.
Conclusion
The cryptocurrency could rejoin the bear’s group soon as the MACD and Klinger Oscillator are showing their favor to the bear.
The post Cardano [ADA/USD] Technical Analysis: Bear to stay in the market for a longer duration appeared first on AMBCrypto.
Source: AMB Crypto

Cardano [ADA] Reddit AMA session clears the air about reward sharing schemes as stake pools impend

The Cardano [ADA] team recently conducted an ‘Ask Me Anything’ session on Reddit regarding the reward schemes in their stake pools. The session was conducted by Aggelos Kiayias, Chief Scientist at IOHK, in conjunction with Lars Brünjes, Elias Koutsoupias and Aikaterini-Panagiota Stouka, the co-authors of the paper to implement the reward schemes.
The session was kick-off by user mchapman1989, who asked whether he would be able to stake ADA using a Ledger hardware wallet and Raspberry Pi computer. In response, Kiayias answered to the affirmative, clarifying that staking meant delegating the user’s stake to a pool and receiving rewards from it.
User Jonne33 pitched in as well, stating:
“Once delegated you can put your ada on Ledger or even on a paper wallet. You don’t need to be online after that (ie you don’t need raspberry pi or something). Raspberry Pi can be used initially for accessing your Ada and delegating it via Linux Daedalus client (still in development) or via different light wallets which are popping up currently.”
User Gr3cu enquired about an alternative to economic incentives being a part of the scheme for staking scheme. His alternatives included real-time information or advice by a system observing the pools. He also stated that he would be up for even a separate pool operated by a party such as IOHK that could be trusted with ADA.
Gr3cu then proceeded to ask whether the said entity could manage the ADA to increase the performance of the network at the expense of stake rewards.
In response, Kiayias stated:
“In general, it is hard to get reliable performance metrics / advice that are not attackable or involve a single point of failure. The wallet will provide some input to the stakeholders about what pools are performing as they should using information drawn from the blockchain . In any case IOHK will be like any other entity in the ecosystem without any special role or access.”
User nel0_angel0 had a question on the general functioning of Cardano, as it was a worldwide organization. He asked whether this does not hinder work, with the response from Kiayias being:
“It is challenging but we take full advantage of all kinds of online communication + regular teleconferencing. In academic research we are used to work like this anyway since many projects are cross institution / organisation and work involves traveling and international coordination on a daily basis.”
The post Cardano [ADA] Reddit AMA session clears the air about reward sharing schemes as stake pools impend appeared first on AMBCrypto.
Source: AMB Crypto

Cardano (ADA) Finally Breaks Downtrend To Begin A New Cycle

Chart for ADA/USD (1W)
Cardano (ADA) has finally broken a historical downtrend and started a new cycle. This is a major achievement for Cardano (ADA) considering its aggressive correction left a lot of investors clueless as to what might be the future of this project. Cardano (ADA) received a lot of hype last year which soon put it in the top 10 league. However, as we have seen in the past, usually after a correction, new projects replace old projects in terms of ranking. For instance, once overhyped coins like Stratis, Factom and Augur are not so hot anymore. In fact, most new cryptocurrency investors may have not even heard of them, but there was once a time when these cryptocurrencies were a part of every altcoin investor’s portfolio.
The price of a cryptocurrency is not often a true reflection of its actual value. This was also the case with Cardano (ADA). When Cardano (ADA) entered the top 10 league and it was one of the hottest investments around late 2017, debates regarding its actual value started to rise. Some investors believed Cardano (ADA) was really undervalued and others thought it was really overhyped. The number of investors or analysts who believed it was somewhere in the middle was very low. This was because Cardano (ADA) was and still is shrouded in different layers of mystery. Investors like to believe it is a wonderful project but they cannot really explain how exactly.

Chart for ADA/BTC (1W)
One thing is clear and that is that Cardano (ADA) derives most of its popularity and hype from two key names associated with the project: Charles Hoskinson and IOHK. Both of these names are also associated with Ethereum Classic (ETC). So, people who know enough about Charles Hoskinson or IOHK are inclined to believe that Cardano (ADA) is a great project even if they do not know much about it. I used to be one of those people. Charles and IOHK have achieved so much and they are one the major driving forces in the blockchain space. If it were not for them, we would have people like Dan Larimer and a race for useless products and upgrades just for public consumption. Charles Hoskinson and IOHK on the other hand are focused on real work and sustainable products instead of creating useless shiny products one after the other.
Cardano (ADA) might have been overvalued at the top even if majority believed otherwise. However, the fact remains that is a long way from the top and is now just above its all time low, looking to begin a new cycle. There should be absolutely no doubt that Cardano (ADA) is definitely undervalued at this price and has a lot of room for growth considering everything that the team has been up to. For people who want to invest in the future, cryptocurrencies like Cardano (ADA) is one of the safest bets. Projects like Ripple (XRP) or Eos (EOS) may have a lot more room for short term gains but their future remains uncertain.

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The post Cardano (ADA) Finally Breaks Downtrend To Begin A New Cycle appeared first on Crypto Daily™.
Source: Crypto Daily

Cardano Price Analysis: ADA/USD Buyers In Control, $0.080 Next?

Key Highlights

ADA price traded higher recently and broke the $0.0750 resistance against the US Dollar (tethered).
There are two bullish trend lines in place with support at $0.0740 and $0.0730 on the hourly chart of the ADA/USD pair (data feed via Bittrex).
The pair remains well supported and buyers could attempt to push the price towards $0.0800 in the near term.

Cardano price is moving nicely against the US Dollar and Bitcoin. ADA/USD is likely to continue higher towards the $0.0800 and $0.0810 levels.
Cardano Price Analysis
In the last analysis, we discussed the chances of a recovery above $0.0750 in cardano price against the US Dollar. The ADA/USD pair did trade higher recently and broke the $0.0750 and $0.0760 resistance levels. There was even a close above the $0.0750 level and the 100 hourly simple moving average. The upside move was strong as the price traded as high as $0.0784 before sellers appeared.
Later, the price corrected lower and declined below $0.0760. There was a break below the 23.6% Fibonacci retracement level of the recent upside move from the $0.0704 low to $0.0784 high. However, there is a strong support formed near the $0.0740 and $0.0750 levels. There are also two bullish trend lines in place with support at $0.0740 and $0.0730 on the hourly chart of the ADA/USD pair. Besides, the 50% Fibonacci retracement level of the recent upside move from the $0.0704 low to $0.0784 high at $0.0744 is an immediate support. Therefore, the price is likely to find support near the $0.0740 or $0.0730 level in the near term.

The chart indicates that ADA price is placed in a bullish zone above $0.0730. On the upside, a break above the $0.0770 and $0.0780 level could open the doors for a push towards $0.0800.
Hourly MACD – The MACD for ADA/USD moved back in the bearish zone.
Hourly RSI – The RSI for ADA/USD is currently flat near the 50 level.
Major Support Level – $0.0730
Major Resistance Level – $0.0780
The post Cardano Price Analysis: ADA/USD Buyers In Control, $0.080 Next? appeared first on NewsBTC.
Source: New feedNewsBTC.com

BTC, IOTA And ADA Relish In Positive End To October


 Listen Here – https://soundcloud.com/cryptodaily/btc-iota-and-ada-relish-in-positive-end-to-october
This week may have been a slow week for the markets, however as always, the crypto news has been rife. We want to go back over a number of this week’s headlines with you for two reasons. Firstly, we want to offer you a chance to re-cap, with so much news constantly flowing, we’ll admit it’s very hard to keep up.
Secondly though, yesterday’s news can help us to decide what might happen next – by reviewing the news of this week, we can all become better investors and can all learn to make more accurate predictions, helping us to manage our portfolios more efficiently.
Why did Bitcoin drop today?
This week has seen a number of troughs in the value of the markets. It seems that a bearish regression has really hit Bitcoin hard this week, dragging its value right down, moving ever closer to the $6,000.00 threshold that most investors wish Bitcoin would run away from. According to some reports, much of this fall was helped along by the theory that Bitcoin is creeping closer to becoming a stable coin (not in the tethered sense, more in the sense that it has held a consistent price for a very long time now).
“Prominent faces in the industry quickly commented to underscore Bitcoin’s new quasi-stablecoin status. A senior market analyst at eToro, Mati Greenspan jested last week saying: Hey stock jocks!!! Tell me again how Bitcoin isn’t a stable store of wealth due to extreme volatility.”
This ‘stability’ hasn’t just affected Bitcoin, as of Tuesday:
“Similar patterns were seen by Ethereum too with a negative momentum, slowly dropping down 3% on the day to trade to around $197 at the time of writing. Over the past week, the second biggest coin in the market has also been trading sideways, showing only marginally more fluctuation than Bitcoin over a similar time frame.”
What will Bitcoin be worth in 5 years time?
When we are forced to sit within bear markets, experts and investors start to speculate about future prices. Indeed, nobody expects this bear market to last, and we do know that one day, Bitcoin will find value again, so, I suppose there’s no harm in speculating about future prices at the moment – though remember this is just speculation, there is no guarantee that Bitcoin will fly.
Tim Draper, the famed venture capitalist has recently spoken at the ‘Crypto Invest Summit’ during which he said Bitcoin could reach a price at around $250,000.00 by 2022.
Draper believes this, because:
“Right now, there’s $86 trillion of political currency. They call it ‘fiat’ currency, but it’s political. And I believe that that currency will slowly be eaten up by a better currency which is global, decentralized, frictionless. It’s just a better currency. Bitcoin’s a better currency. And I think Bitcoin will be one of five cryptocurrencies. I think that government can be transformed in this big, huge way. Which is, you put all those technologies together. You have a token that’s global and decentralized. The token is now on a perfect ledger called the blockchain so you don’t require all this special accounting because the accounting is already done.”
Now don’t get ahead of yourselves, $250,000.00 is a huge increase from the $6,000.00 – $7,000.00 range that Bitcoin currently resides in, but I suppose as they say – never say never.
For those who don’t invest in Bitcoin, or shy away from Bitcoin news, well don’t panic, because this week has marked some positive progression for Cardano ADA and IOTA MIOTA too.
Hundreds of Firms Seem Keen on IOTA
This week, reports have found a huge level of interest from institutional corporations into the IOTA blockchain and IOTA’s technologies. Whilst it’s not huge news for MIOTA adoption, it is very big news for the overall IOTA project. Over 600 firms in total have expressed an interest in IOTA in the past year alone:
“Demand for the IOTA program is increasing as it seems eager to empower an international community to create a shared economy. David Sonstebo, the founder of the IOTA Foundation thinks that corporations need more programming individuals. The firm’s focus is on exploring the ecosystem, developing documentation and the data marketplace as it aims to redefine trust, ownership and value. The founder believes that once everything’s is figured out and polished over, the adoption rate of IOTA would increase on a scale that was never seen in its history. He believes that this is the same practice that many projects scale on a worldwide level. The open source blockchain technology that is IOTA and its core invention of Tangle is blockless and suggests that it could go beyond the distributed ledger technology.”
Big Security Boost for Cardano
ADA has seen a huge boost this week, though sadly it’s current price doesn’t reflect it. Okay, so no major upgrades have taken place within the Cardano network, however, cryptocurrency storage provider Trezor have announced that they are now almost ready to start allowing for the storage of Cardano’s ADA within the Trezor hardware wallet:
“It has been recently announced by IOHK that Trezor is currently undergoing its final preparations to support Cardano. The globally known hardware wallet, Trezor facilitate digital currencies to be stored and they are popular for being able to store the key to the wallet safely. The firm is a big manufacturer of hardware wallets and a big boost for security for the foundations native token is surely going to please a lot of people who have invested in it. This announcement has come from Charles Hoskinson, who is the founder of Cardano, through his official Twitter account which suggests that this could be the case before next month.”
This is exciting news for ADA investors, who now have access to an ultra secure storage solution for their ADA tokens. As you should know, hard, offline, cold storage solutions are almost hack-proof, therefore within this announcement, ADA has seen a huge security boost, for those investors that do choose to use cold storage solutions anyway.
Whilst the markets have been slow this week, the news has been fast. Make sure you keep up with the latest headlines at www.cryptodaily.co.uk and check back next week from more videos from yours truly!

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Source: Crypto Daily

October Crypto Market Review: Top 20 Cryptocurrencies Crushed

XRP, Bitcoin Cash, Cardano, Iota, Neo, VeChain falling hard, Tron survives while Maker and 0x recover well.
For the eighth month this year cryptocurrency markets have fallen. October has been no exception with a 9.4% decline in total market capitalization. This has resulted in the loss of over $20 billion from cryptocurrencies during the month. The Friday 12 monthly low to $197 billion was not as deep as September’s dip but very close. At the end of October markets were at just over $200 billion, down 75% from their January high. The downtrend is still very clear but the losses have grown smaller indicating that the bottom could be close.

Bitcoin lost ground in October, starting the month at just over $6,600 and ending it at $6,320. This 4.5% decline is not as bad as it seems since BTC has held above the $6k level for a year now, aside from a couple of quick bounces below it. It has come a long way in the past ten years and some stability is welcome.
October Crypto Winners
We’re calling Tron one of the crypto winners for October because TRX ended the month where it started at $0.222 making it the first altcoin in the chart not to have lost ground.
Maker also made it through the tumultuous month with a 21% climb from $495 to around $600 at the end of October. Bitcoin Gold survived with no losses beginning and ending the month at $26. 0x also made gains during the month ending it 17% higher at $0.767 from $0.654 at the beginning.
Decred was another survivor with no losses remaining at $39 at the end of the month. Aeternity down in 30th spot also ended a little higher with a 7% gain over the month.
October Crypto Losers
Ethereum has lost 15% during October, starting out at $232 and ending at $197. It is ETH’s lowest levels since July 2017 and no recovery looks to be coming just yet. Market capitalization is around the $20 billion mark with the world’s second largest cryptocurrency having lost almost $4 billion last month.
XRP has shown some promise in recent weeks but that could not stop the overall loss of 25% from Ripple’s native token. XRP ended the month at $0.44 after starting October very close to $0.60.
Bitcoin Cash has also been bashed during October with a 21% decline from $534 to $422. And EOS, rounding out the top five, has not escaped the bears either. A 10% slide saw EOS fall from $5.78 to $5.20 during the month.
The usually stable Stellar also ended October in pain falling 15% from $0.26 to $0.22. Litecoin fared even worse with an 18% slump from $61 to just below $50 at the end of the month. Cardano has not made a gain this year and is one of the worse performing high cap altcoins. Last month was no exception as ADA shed another 20% falling from $0.085 to $0.068.
Things were that bad in October that even Tether made a loss, falling below its dollar peg to a low of $0.958. Rounding out the top ten is Monero falling from $116 to $104 resulting in a loss of 10%.
Heading further down the chart the losses were larger, Iota for a start lost 20% in October. Dash also got bashed falling 18%, Binance Coin fell 6%, and Neo in 15th spot also lost 20%.
Losses were greater for Ethereum Classic shedding 21%, Nem only fell 6%, Tezos slid 12% as did Zcash and rounding out the top twenty was VeChain getting trounced almost 22% during October.
By the end of October things were in the doldrums for the majority of cryptocurrencies with losses across the board in varying magnitude. The crypto winter is still in full effect and a recovery seems to be a long way off with many pinning hopes on 2019.
To summarize the only survivors in October were Tron, Maker, 0x and Bitcoin Gold. Getting smashed with over 20% losses were XRP, Bitcoin Cash, Cardano, Iota, Neo, Ethereum Classic and VeChain.
All figures from Coinmarketcap.com
Previous months: February | March | April | May | June | July | August | September
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Source: New feedNewsBTC.com