Key Takeaways Cardano ousts Ethereum in transaction volume and cheaper fees amidst growing network activity.  The launch of Sundaeswap, Cardano’s first DEX, has been a key driver. However, the price of ADA has not escaped the market crash. Cardano (ADA), the biggest proof-of-stake (PoS) blockchain network, is continually outperforming Ethereum (ETH) in transaction volume. Over […]

On Thursday (January 20), Charles Hoskinson, Co-Founder and CEO of Input Output Global (IOG), the blockchain technology responsible for Cardano’s R&D, celebrated the mainnet launch of SundaeSwap, which calls itself “the sweetest decentralized exchange on Cardano”. What Is SundaeSwap ($SUNDAE)? SundaeSwap is “a native, scalable decentralized exchange and automated liquidity provision protocol”. It is backed […]

On this episode of The Scoop, The Block's Frank Chaparro sat down with Charles Hoskinson, founder of Cardano and CEO of Input-Output Global, to unpack the ecosystem underpinning the price headlines.

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SundaeSwap, one of the first DEXs (Decentralized Exchanges) built on Cardano, sets out to go live on 20th January. The ISO (Initial Stake Pool Offering) of the native token SUNDAE is scheduled for the same date.  As the project needs more time to audit the contracts and comply with industry security standards, a ‘fully-functional’ beta […]

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Can Cardano Maintain Its Rally? Cardano goes ‘full send’ with 50% The crypto market is once again painted in red, and Bitcoin’s price is no less than a suspense thriller movie these days, with the commodity plunging hard below $41,000 whenever a breakthrough above $43,000 is near.  Despite a world-record-breaking token burn, the price of …

A highly popular pseudonymous Cardano ($ADA) whale says that in 2022 he expects the L1 blockchain’s transaction throughput to increase to 500-1000. According to a report published by CoinDesk earlier today, “ADA Whale” (“cardano_whale” on Twitter) told them via a Twitter chat: “Keep eyes on the various scaling initiatives coming to Cardano the next months… […]

Crypto analyst Benjamin Cowen says a handful of factors could prevent Cardano (ADA) from kicking off a bull run right now. In a new YouTube update, Cowen tells his 692,000 subscribers that Bitcoin (BTC) is the “number one” limiting factor that could prohibit ADA’s price from surging higher. The analyst explains that BTC controls the health of the market […]

The post Can Cardano Continue Its Rally? Crypto Analyst Benjamin Cowen Looks at What’s Ahead for ADA appeared first on The Daily Hodl.

ADA coin price jumps more than 10% to break above the resistance level at $1.5 and shows a retest in action. Should you buy more at retest? The company was created by Charles Hoskinson, one of the co-founders of Ethereum and the CEO at IOHK, Cardano is one of the biggest blockchains that successfully implemented a proof-of-stake consensus mechanism. The new consensus uses less power than the proof of work algorithm that Bitcoin is built on. Cardano announced its highly-anticipated Alonzo update. With it being updated, the platform now supports a variety of crypto-related applications, such as non-fungible tokens (NFTs) as well as smart contracts. Let us move ahead to read about the Cardano technical analysis. Past Performance of ADA The ADA coin price shows a growth of more than 10% in the past 24 hours, resulting in the breakout of the resistance level at $1.5. Moreover, the price action forms a solid bullish engulfing candlestick in the daily chart. The price jump and the 100% growth in the intraday trading volume show a boom in buying pressure.  ADA/USD Daily Chart ADA Technical Analysis The V-shaped in the ADA coin price gives a bullish breakout of the double bottom pattern indicated in our previous technical analysis. The price retraces to retest the bullish breakout. Therefore, a tail formation near the neckline at $1.5 can be seen shortly. Crucial EMAs (50, 100, and 200) in the daily chart still maintain a bearish alignment, and the price jump faces rejection from the 200-day EMA. However, the post-retest bull run can bring the potential to rise above it.  The RSI indicator at 63% shows an end in the sharp growth as the slope retracts with the price facing rejection. Nonetheless, the slope remains above the central mark suggesting an increased bullish momentum.  The MACD indicator does a growing MACD line as the gap with the signal line increases. Moreover, the increasing intensity of the bullish histogram indicates a rise in underlying bullishness. Therefore, the ADA price action and the technical indicators indicate a boom in buying pressure and trend momentum.  Upcoming Trend The breakout of the double bottom pattern with the boom in buying pressure and trend momentum indicates the start of a bull run. Therefore, a price jump in ADA coin to $2 is possible after retesting the neckline breakout. The price action suggests upcoming resistance levels at $2 and $2.30. And, in case of a bearish reversal, the price can find support at $1.5 and $1.125. At press time, the sentiment chart gives a “NEUTRAL” signal for the ADA coin. Technical Analysis for ADAUSD by TradingView

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The most popular are usually the ones with the highest market cap. Of course,…

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ADA coin price is under tremendous buying pressure and hints at double bottom breakout. Will the increased trend momentum reach $2? Founded by Charles Hoskinson, one of the co-founders of Ethereum, CEO of IOHK, Cardano is one of the largest blockchains to successfully use a proof-of-stake consensus mechanism. The new consensus consumes less power than the proof-of-work algorithm on which Bitcoin is based.  On September 12, Cardano released its highly anticipated Alonzo update. After the update, the network now supports a wide array of crypto applications, including non-fungible tokens (NFTs) and smart contracts. Let us look at what the Cardano technical analysis reveals: Past Performance of ADA The ADA coin price action shows a V-shaped recovery in the daily chart with a 30% price jump following the downfall to $1.125. The coin price shows a rise of almost 10% in the past 24 hours, with a 130% rise in intraday trading volume. This indicates a boom in the underlying buying pressure. The price approaches the crucial resistance level of $1.5 that may soon generate a breakout entry opportunity. ADA/USD Daily Chart ADA Technical Analysis The V-shaped in the ADA coin price completes a double bottom pattern in the daily chart. The neckline of the patterns coincides with the resistance level at $1.5. Therefore, the breakout of the pattern will give an excellent buying spot.  Crucial EMAs (50, 100, and 200) trend lower in a bearish alignment in the daily chart. The price breaks above the 50-day EMA and continues to reach the 200-day EMA.  The RSI indicator at 59% shows a sharp increase in the slope resulting in the central line (50%) breakout in the daily chart. Therefore, the indicator reflects a boom in the underlying bullish momentum. The MACD indicator shows a sudden rise in the MACD line driving the line further away from the signal line after the bullish crossover. Moreover, the solid growth in bullish histograms suggests increased buying pressure. Therefore, the rising buying pressure is evident by the technical indicators, increasing the chances of a bullish breakout of $1.5.  Upcoming Trend The double bottom pattern made by the ADA coin price action can shortly give a bullish breakout of the neckline at $1.5. Therefore, traders can expect the breakout to reach the $2 mark by the end of January.  The price action suggests upcoming resistance levels at $2 and $2.30 following the level at $1.5. And, in case of a bearish reversal, the price can find support at $1.125  and $1. At press time, the sentiment chart gives a strong “BUY” signal for the ADA token.

The post ADA Technical Analysis: Double Bottom Breakout Can Reach $2, Is It the Best Buy of 2022? appeared first on Cryptoknowmics-Crypto News and Media Platform.

This article covers the most important details that you should know about the upcoming mainnet launch of SundaeSwap, which calls itself “the sweetest decentralized exchange on Cardano”. What Is SundaeSwap ($SUNDAE)? SundaeSwap is “a native, scalable decentralized exchange and automated liquidity provision protocol”. It is backed by cFund (“an early-stage sector agnostic venture firm in the Blockchain […]

Cardano, the sixth-largest cryptocurrency by market cap, had the highest amount of developer activity in 2021 out of any other digital asset, according to a new report. Based on data in a new report from crypto analytics company Santiment, Cardano led the markets last year with the amount of development activity, closely followed by Kusama […]

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