Cardano News Today – Cardano Shelley Update Launch Postponed due to Coronavirus – March 15th 2020

  • Launch Of Cardano Shelley Mainnet Might Be Hosted Online
  • ADA/USD Pair Declines Massively Due To Current Market Volatility

Cardano Shelley – IOHK CEO Charles Hoskinson recently shared an update on Cardano’s main projects. He explained the efforts of the Cardano Foundation to follow the roadmap and added that the launch of the Cardano Shelley network in Japan is going through evaluation.

Cardano (ADA) Price Today – ADA / USD

NamePrice
cardano
Cardano
$0.079

Cardano Staking – previously, Hoskinson stated that the primary idea was to host an event to celebrate Cardano Shelley’s achievement in the development of Cardano. In a recent YouTube video, Hoskinson stated that the Coronavirus outbreak has caused massive events to be canceled. Hence, the Cardano Foundation is thinking of hosting an online event to launch Cardano Shelley.

Cardano Staking – Hoskinson shared that he hopes to travel to Japan for the launch of the mainnet even if it has to be done online. He added that the Cardano Community in Japan has been with them since inception. Adding that regardless of the outbreak daily, the Cardano community in Japan “deserves a pat on the back” for their contribution to the project.

ADA/USD Pair Declines Massively Due To Current Market Volatility

ADA Price Prediction 2020 – ADA declines to $0.026 following market volatility, the ADA/BTC pair might establish a new low or recover from the decline. ADA Projections – ADA experienced a massive decline below the long-term support at $0.04 which is now subjected to the price movement beneath the 9-days and 21-day moving averages over the past few weeks of trading.

ADA Prediction 2020 – ADA bears are currently in charge, ADA is gradually losing momentum to the lower side of the descending channel along with a possible price surge. The further upward movement is looming in the near term. ADA Projections – though, if ADA/USD pair decides to leave the bears in charge, the price of the coin might decline to the closest support at $0.012, $0.010 and $0.008. On the upside, ADA bulls need to drive the price above the 9-day moving average to attain the resistance at $0.040, $0.042, and $0.044 levels. ADA Price Prediction 2020 – Moreover, the stochastic RSI is trying to move out of the oversold level, which may trigger bullish signals to the market.

ADA Prediction 2020 – against BTC, the market appears to be moving beneath the moving averages and within the channel where the price is projected to clear the lower part of the channel. ADA Projections – If the price cross down the channel, the market will face a downward trend that could reach the closest support level of 430 SAT and beneath.

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.

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