The fight to emerge as the best cryptocurrency 2019 among top cryptos in the market is a pretty tough one. The teams behind every digital currency are doing their best to boost the relevance of their coins and make them the best cryptocurrency 2019. Digital asset investors and traders are `always looking for profitable coins to invest in. As such, blockchain projects are putting in more effort by securing more partnerships, announcing new developments, listing, and bullish crypto news. One of such cryptocurrencies that have continued to thrive in the crypto space is Cardano (ADA).
Cardano ADA News has been bullish for a while now. The blockchain project has secured a lot of strategic partnerships and it has been featured on several trading platforms. That, coupled with the bullish Cardano price prediction 2019, the digital currency has been able to maintain its relevance in the crypto space.
Cardano (ADA) Price Today – ADA / USD
Cardano Network Is Set to Be More Decentralized This Year – Cardano ADA News Today
Cardano has a very strong community behind it. The community usually gets excited whenever there is bullish crypto news or positive development around the coin. Another strong personality behind the progress of the coin is the chief executive officer of IOHK – Charles Hoskinson.
Hoskinson is a very outspoken crypto bull and he is doing all his best to bring Cardano (ADA) to mainstream adoption. The CEO was recently on air, talking about the recent Cardano network upgrades. Hoskinson laid more emphasis on the Cardano 1.5 update. At the initial launch of the update, the firm stated:
“Cardano 1.5 update is crucial for our preparation for migrating to the Shelly development phase. The update introduces a new consensus protocol – Ouroboros BFT. This is a vital step in the transition from the present consensus protocol of Cardano (Ouroboros Classic) to the consensus protocol for the Shelley phase (Ouroboros Genesis). Ouroboros Genesis is a very important upgrade to the protocol running the Cardano network as it is the first Proof of Stake protocol that matches the security guarantees of Proof of Work protocols like Bitcoin.”
There is an array of upgrades aimed at increasing the decentralization of the Cardano network. Hoskinson said that the 1.5 upgrade is the first in the array of upgrades. He said that after the upgrades, the Cardano Network will be 100 times more decentralized than Bitcoin. He also added that the Cardano network will end this year more decentralized than any other network.
Cardano Price Analysis
Cardano price recently saw a strong uptrend over the $0.085 resistance level. The recent crypto bull run helped to push the price of Cardano over the $0.0940 resistance level. Cardano price even tested a new yearly high at the $0.1016 level before it started correcting lower. The price of Cardano plunged lower and broke the $0.0940 and $0.0920 support level.
Cardano even corrected below the $0.0855 support level and the 50 percent Fibonacci retracement level of the previous swing from the low of $0.0690 to the high of $0.0825. Nevertheless, the $0.0820 level acted as support for the coin.
At the time of writing, according to Coinmarketcap, Cardano is supported at the $0.0835 level. Whereas, the immediate resistance of the digital currency is at the $0.090 level. A break over this level will pave the way for more gains towards the 10 cents level.