Cardano News Today – Shelley Testnet Goes Live But ADA Intraday Correction at $0.083 Pushes ADA Lower Against the USD – June 10th, 2020

Cardano
  • The Last Version Cardano Shelley’s Incentivized Testnet Goes Live But the ADA Token Has Lost All Bullish Momentum
  • Cardano Faces Intraday Correction at $0.083 Leading to Lower Lows Near-termĀ 

Cardano News Today – Cardano ADA’s bull run seems to have paused after weeks of gaining more than 70% against the USD. For the last two days, the price of the Cardano ADA token has been correcting lower against the USD. This morning, it moved as low as $0.081 after losing the key support at the $0.083 level. Thankfully, the token was able to gain some momentum after it tested the $0.083 level but it still hasn’t been able to retest $0.083. If the Cardano ADA token doesn’t gather enough momentum to move above the resistance at $0.083. The token will fall steadily until it gets the next strong support at $0.068. Falling below this level will lead the token to test the next support at $0.063 until it eventually falls to the $0.058 level.

Cardano News Today – Cardano ADA Faces Intraday Correction

For the last two weeks, even as the price of Cardano ADA surged against the USD, it formed strong support at the $0.0.85 level. The token maintained this support for more than seven days only to break it yesterday in an intraday correction. Falling below this level left Cardano ADA subject to moving below the 9-days moving average. It seems like the bears are making plans to come back into the market with full force. The token is slowly losing its momentum and it seems like more than a minor correction. The price of the Cardano ADA token is falling despite the fact the Cardano Shelley mainnet launch is in just a few weeks ago. It is also discouraging that the token is falling despite the Shelley Incentivized Testnet launch yesterday is discouraging.

Cardano (ADA) Price Today – ADA / USD

NamePrice
cardano
Cardano
$1.15

Cardano is now on the lower side of the ascending channel. At the time of writing, the price of the token was $0.082190. It is down by 3.33% against the USD and down by 3.94% against Bitcoin BTC. The trading volume over a 24 hour period is $1,058,551,919 and the market capitalization is $8,921,083,185. Hopefully, the bulls will be able to regain control of the token before the Cardano Shelley mainnet launch takes place. All we can do is wait and see. A change in the price action of Bitcoin BTC might also affect the price of Cardano ADA and all the other altcoins. Right now, the Bitcoin BTC is correcting lower against the USD. If the Bitcoin bulls return, Cardano ADA might recover against the USD.

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