- ADA vs ETH: Hoskinson bears his mind on Balina’s claims
- Cardano price analysis – bearish grip on ADA prices
IOHK Charles Hoskinson set the records straight with the founder of blockchain analytics company Token Metrics, Ian Balina. The argument was as a result of Balina’s tweet, where he stated that Ethereum is bigger than Cardano from the technical view.
To which Hoskinson replied with “You’ve lost your damn mind.” According to Balina, this conclusion was drawn after he got some pushback from ADA holders, he stated that Token Metrics concluded that ADA had “solid tech” but its code was inferior compared to that of Ethereum.
Hoskinson was among the earlier founders of Ethereum, the second most successful cryptocurrency in history. Although, he left the project due to disagreement with Vitalink Buterin and channeled his focus to IOHK-created Cardano. Cardano would soon become the most decentralized blockchain with the release of the Shelley testnet.
Cardano price analysis – Bearish Grip on ADA Prices
Cardano Price Analysis – the bears are in total control of ADA, and the downtrends appear to persist. The weekly ADA prices are moving towards the crucial support level and the bulls will need to protect this last support. The weekly prices are trading below the 9 days SMA, and 21 days SMA. Prices are still in the downtrend and they are gradually moving towards the crucial support zone at $0.028. The RSI is at 35.64, which is crooked towards the overpriced zone, while the Stoch RSI is moving towards the overpriced zone.
Cardano (ADA) Price Today – ADA / USD
| Name | Price |
|---|---|
 | $0.00 |
The daily ADA prices could not sustain the support at $0.037, currently, it is trading below the 9 days, 21 days and 49 days SMA. The daily ADA prices are getting resisted by the 21 days SMA. If history should repeat itself, the ADA prices will see a pull in a downtrend route towards the weekly crucial support at $0.028. The RSI is at 42.95, which is an unbiased signal. Also, the Stoch RSI is in the overpriced region and it is signaling that the price will decline with this alteration in daily price trends.
It is evident by the Stoch RSI that the prices will vary and move towards the weekly crucial support at $0.028. ADA prices are firmly in the bear’s clutch and the downtrend movement will persist. Cardano is enduring its steady momentum even under persistent bear pressure and price recessions at intervals. Analysts are quite confidents that ADA will manage to scale through the bearish clutch during the year. Investors are advised to hold onto their investments from a long-term view as the coin is likely to be stable in 2020.
Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.
