Cardano (ADA) Will Hit The $0.11 Level With Bulls Despite The $0.85 Resistance

Since the beginning of 2019, the price of Cardano ADA has been bullish against the USD. Even when other altcoins were falling, ADA managed to maintain a degree of bullish momentum. According to the latest Cardano ADA price predicttion on Coincodex, the token is set to break the resistance that stands between the current price of Cardano and the $0.11 level.

Based on the recent ADA news and Cardano ADA news, it’s safe to say that the long-term price trend for Cardano is bullish against the USD. During March, the positive Cardano news drove the price of ADA as high as $0.1. However, because the 50-day MA didn’t breakout, the sellers pushed the price of ADA lower against the USD. Until the price of ADA breaks out of this 50-day moving average, the chances of moving higher against the USD will remain slim. In fact, the price of Cardano ADA may fall to the support at $0.07 mid-term if the bears continue to dominate the market.

Cardano News Today – Cardano ADA Price Prediction

Cardano (ADA) Price Today – ADA / USD

Name Price24H (%)
Cardano (ADA)
$0.084354
-0.75%

The price of Cardano ADA is facing resistances at $0.088, $0.095 and $0.11. There are also support levels at $0.07, and $0.06. At the time of writing, the current price of Cardano ADA on CoinMarketCap was $0.082946. This means that it is up by 1.57% against the USD and down by 0.73% against BTC. The trading volume over a 24 hour period is $67,431,600 and the market capitalization is $2,150,553,149. If the bulls are able to gather enough momentum to push the price of ADA above $0.85, it would have no difficulty reaching the resistance at $0.85.

Cardano Price Short-term Forecast

Over the last five days, the price of Cardano has been in a sideways trend against the USD and against BTC. At one point, it started trading in a range of $0.086 and $0.08. The relative strength index of ADA was also in range between 30 and 70. What this means is that the price of Cardano is greeting ready to make a big move. The next bullish breakout in price is going to take it as high as $0.88, $0.95 and eventually $0.11.

Retesting the $0.11 level would be a major breakthrough for the price of Cardano. It would renew the interest digital asset investors have in the token and pave a way for more gains against the USD. However, there is still a chance that it will fall to the $0.70 level short-term.

Cardano ADA News Today – EMURGO Unveils New Blockchain Explorer For Cardano

Cardano is one of the many Ethereum killers in the cryptocurrency space. While the Cardano platform and the ADA token are often underestimated, the team behind them have been working tirelessly to make sure that ADA news, Cardano news, and Cardano Price Prediction 2020 are always positive. Another positive Cardano news has been on headlines according to the news of cryptobriefing.

EMURGO, the official commercial arm of Cardano (ADA), has today announced the upcoming release of a new blockchain explorer, which will allow users to monitor ADA transactions and check the balance of wallet addresses.

Known as Seiza – derived from the Japanese for ‘constellation’ – the new blockchain explorer will allow users to easily navigate around the Cardano network. EMURGO, which announced the news at the IOHK conference in Miami, expects to launch Seiza sometime before the end of May.

Although other Cardano blockchain explorers exist, EMURGO says Seiza will come with additional functionality and features which will enhance the overall user experience and make it easier to track and trace transactions as well as find data on specific blocks.

Seiza’s upcoming launch compliments the news that Cardano is about to release the Shelley protocol, which will allow ADA holders to stake tokens and earn passive rewards for validating transactions. Nicolas Arqueros, CTO of EMURGO said,

“EMURGO is fully committed to providing valuable utility to the Cardano community. Seiza is an essential user-friendly tool that EMURGO was eager to develop to further the advancement of the Cardano ecosystem.”

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