Cardano (ADA) price recovered recently, but it failed to keep: Cardano price analysis & USD / ADA price prediction today (ADA News Today February 2018) – Cardano Ada Predictions

Cardano (ADA) price recovered recently, but it failed to stay above $0.4500
Cardano(ADA) 0.331322 -3.79%

Key Highlights:

Cardano (ADA) price recovered recently, but it failed to stay above $0.4500

There is a new major declining trend forming with resistance at $0.3380 on the hourly chart

A major support level is established near the $0.3033 level

Cardano Price Resistance

The ADA price against the U.S. Dollar recently bounced back from a low of close to $0.2900, now trading at $0.3095, but it failed to go above the previous resistance of $0.3380. It did make a short-term top at $0.3273 as the day progressed, but the downward movement continued on afterward.

The 23.6% Fibonacci retracement level of $0.2200 is not too helpful at the moment, but it’s a good price for anyone looking for a “bottom” to get in.

Cardano Price Analysis

Now the question is whether ADA price could hold at $0.3033 or go back down below $0.3000. A short-term upside is expected at $0.3250, but the real resistance that needs to be tested is $0.3380. Both MACD and RSI indicators look encouraging, especially as now the MACD line and the signal line are overcrossing.

Looking at the Technicals:

MACD — the MACD indicator is showing a bullish signal since both lines are on verge of crossing
RSI — the RSI indicator for ADA is giving a bullish signal, as it’s under the 50 mark
Major Support Level — $0.3033
Major Resistance Level — $0.3382

Cardano: This Crypto’s Potential Is Its Greatest Strength And Weakness
seekingalpha –
Cardano is a third generation cryptocurrency built by a former Ethereum executive.

It hopes to integrate the functionality of many other coins and platforms into one entity.

Cardano has grand ambitions that feed its huge potential.

I fear that its proposed scope is so large that it will ultimately hinder the project.

Cardano’s mission is built upon three foundations:

It is based on rigorous academic and peer-to-peer research and collaboration.

It appreciates previous cryptocurrencies and builds upon their successes and failures.

It is committed to accommodating for the future.

With these principles in mind, Cardano seeks to position itself for the future by learning from the past. Why perpetuate cryptocurrency paradigms that don’t work? Why follow models that seem rooted in the past? Litecoin did this to an extent by taking what Bitcoin did well and improving upon it. Cardano is attempting to do that with Bitcoin, Ethereum, and others.

Cardano Integrates Ledger Hardware Wallet to Enhance Security

With increasing attacks on hot wallets, Ledger’s cold storage devices are gaining huge popularity.
According to financemagnates.com, the Cardano Foundation has announced that it is integrating Ledger hardware wallet devices in its ecosystem to enhance its security features.

According to albawaba.com This integration will allow ADA holders to transfer their digital assets directly from their software wallets to Ledger’s more secure hardware wallet – Ledger Nano S.

A dedicated Cardano app in the Ledger wallet will help to create a seamless experience to the users.

Michael Parsons, the Cardano Foundation’s chairman and executive director, said: “The ability to hold digital currency funds securely is front of mind for many users. Ledger has extensive experience in the cyber security industry, specifically with smart cards and secure embedded operating systems. This fact, combined with Ledger’s position as the leading bitcoin and cryptocurrency hardware wallet manufacturer, will provide ADA holders reassurance that their digital assets are securely held.”

Cryptocurrency and blockchain consultancy firm Cryptonomy was given the responsibility for the integration of Ledger’s cold storage wallets and the Cardano blockchain’s native token ADA.

CEO of Cryptonomy Jonathan Turrall said: “We are pleased to be working closely with the Cardano and Ledger teams to deliver industry-leading security technology for holders of ADA.”

Ledger is the leading cold storage device in the world right now, and due to its secure environment, demand for it is growing exponentially. In 2017 alone, the firm sold 1 million units of its hardware wallets, compared to only 3,000 in the previous year. Because of the high demand, the company is facing a massive backlog of orders and there is currently a waiting period of almost two months to get the popular Ledger Nano S.

What is Cardano?

Cardano is one of the major blockchain projects in the blockchain space today. With its third generation proof-of-stake consensus mechanism, Cardano addresses the three major issues which have been troubling many blockchains – sustainability, scalability, and interoperability.

Cardano’s blockchain is two-layered, and this multi-layer design gives the blockchain the flexibility to evolve without undergoing any forks.

Currently, Cardano is the fifth largest coin in the market with a market cap of over $12 billion, according to coinmarketcap.com. Such massive acceptance of a four-month-old blockchain project in the market is very impressive.

According to a prediction by Finder.com, a price comparison website of the financial domain, Cardano will be the third largest cryptocurrency by the end of 2018.

Cryptocurrency That Could Become The Next Bitcoin: Cardano (ADA)

Cardano is a relative newcomer, having been released in 2017 following a lengthy ‘initial coin offering’ from 2015. Considered a third-generation cryptocurrency, its name comes from Gerolamo Cardano, a Renaissance figure who was an Italian mathematician and physician. Its founder is Charles Hoskinson, who was a co-founder of Ethereum.

Cardano is blockchain-based, and takes a scientific approach to cryptocurrency, being based on published academic papers with academic institutions overseeing its growth and evolution. Their goal is to balance the needs of regulation, while still adhering to privacy and decentralization principles.

This virtual currency also features the Ouroboros ‘Proof of Stake’ (PoS) method for faster transactions, which is laudably energy-efficient. Furthermore, it’s considered highly secure, as it’s based on a layered architecture. Cardano is an ambitious project that seeks to address the shortcomings of Ethereum and other older cryptocurrencies.

Thus far, Cardano certainly seems to be doing something right, as it has quickly become the fifth biggest cryptocurrency going by market cap value (behind Bitcoin, Ethereum, Ripple and Bitcoin Cash respectively).

Adam Webb is editor in Smartereum, blockchain and currency news, where he produces updates on Blockchain, Ethereum and other alternative cryptocurrencies.

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