Cardano News Today – ADA Might Test $0.1016 Before the Cardano Shelley Mainnet Launch this Month – June 2nd, 2020

  • Cardano ADA Price Might Retest the $0.1016 for the First Time in Months Thanks to the Cardano Shelley Mainnet Launch
  • Cardano ADA May Fall Lower Against the USD Despite the Cardano Shelley Mainnet Launch
  • Cardano ADA is Recovering from Yesterday’s Drop 

Cardano News Today – Cardano has become the most popular cryptocurrency in the industry due to the hype surrounding the Cardano Shelley update. Toward the end of last month, the hype surrounding the Cardano blockchain increased and the ADA token surged accordingly carrying the rest of the cryptocurrency market along. Cardano ADA is currently the hottest coin in the market because the cryptocurrency has been surging rapidly against the USD thanks to the Cardano Shelley mainnet launch.

Cardano News Today – Is Cardano Shelley A Overhyped and What Will Happen to ADA After the Launch

Everyone knows that the price of the Cardano ADA is rising primarily because of the Cardano Shelley mainnet launch. This is because the promise of a 100% decentralized blockchain has increased the interest investors have in the Cardano ADA token and the blockchain as a whole. After the Cardano network moves to the Shelley network, it is going to become much better than Ethereum according to Charles Hoskinson. So, it’s not a surprise that everyone wants to join the party before it’s too late.

Cardano (ADA) Price Today – ADA / USD

NamePrice
cardano
Cardano
$0.099

The price of Cardano ADA has been surging against the USD and Bitcoin but this isn’t a guarantee that the token will keep rising after the Shelley update. There is a strong chance that the price of the Cardano ADA token is going to rise to the $0.1016 level if it manages to move above all the resistances leading to the core resistance at $0.088. This $0.088 level is currently a strong resistance but it’s a smooth ride between then and the $0.1016 level. However, if the token is unable to move above this resistance at $0.088 level, there is a strong chance that the token will fall as low as $0.066. There will be support levels at $0.0515 and $0.036.

At the time of writing, the price of the Cardano ADA token was $0.081745. This means that it is up by 4.04% against the USD and down by 1.66%. The trading volume was $611,216,771 and the market capitalization was $2,119,403,689. Yesterday, the token lost some of its gains when it fell from the $0.085 level to the $0.078 level. Thankfully, the token started regaining its losses today as the Bitcoin BTC token finally moves above the $10,000 carrying the entire market along. Bitcoin BTC is trading at $10,119.16. It is up by 5.92% against the USD and is leading the current market-wide rally.

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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