Cardano (ADA) Analysis & News
Today, nearly a decade after Bitcoin’s controversial emergence, the world is taking a closer look at exactly how to regulate digital currencies. Governments want to protect their citizens and of course, maintain the integrity of their own economic systems. They implore the world to wait to buy into digital currency until the market has stabilized and more research has been done.
One platform has stepped up to the plate doing their homework, researching the past, coming to a consensus and claiming to have found the key to serving regulators, marketers, and consumers while furthering the development of blockchain technology. According to their white paper, their method includes “learning from the nearly 1,000 altcoins by embracing features that make sense.”
At the moment market cap for this coin is $8,957,673,236 USD and on Coin Market Cap it holds the 7th rank. Just today IOHK tweeted about Cardano’s influence on the potential for blockchain technology to emerge in Africa. This news comes just 3 days after the announcement of a Memorandum of Understanding between Cardano and the Ethiopian government covering how “Ethiopian developers (will) apply blockchain technology to the country’s agritech industry.”
Trading on the 1-Day chart ADA is sitting between horizontal support and resistance well above the .618 after wicking through a couple significant resistance lines a few days ago. Volume has begun to taper off across this chart however on the 4-hour chart price action looks likely to remain above the cluster of support seen just below its last low. This could indicate a bull movement is about to happen, potentially reaching that yellow resistance again within a week or two with the potential to break through if positive news keeps rolling out from Cardano.
One platform has stepped up to the plate doing their homework, researching the past, coming to a consensus and claiming to have found the key to serving regulators, marketers, and consumers while furthering the development of blockchain technology. According to their white paper, their method includes “learning from the nearly 1,000 altcoins by embracing features that make sense.”
At the moment market cap for this coin is $8,957,673,236 USD and on Coin Market Cap it holds the 7th rank. Just today IOHK tweeted about Cardano’s influence on the potential for blockchain technology to emerge in Africa. This news comes just 3 days after the announcement of a Memorandum of Understanding between Cardano and the Ethiopian government covering how “Ethiopian developers (will) apply blockchain technology to the country’s agritech industry.”
Trading on the 1-Day chart ADA is sitting between horizontal support and resistance well above the .618 after wicking through a couple significant resistance lines a few days ago. Volume has begun to taper off across this chart however on the 4-hour chart price action looks likely to remain above the cluster of support seen just below its last low. This could indicate a bull movement is about to happen, potentially reaching that yellow resistance again within a week or two with the potential to break through if positive news keeps rolling out from Cardano.
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