Cardano ADA Price Continues To Face Resistance, Analyst Explains Why, Predicts An Upside Surge

Cardano News Today – Cardano (ADA) price had a hard time over the last few months. It fell significantly against the USD and spiked significantly as well. The drop in price of ADA was not expected because everyone was waiting for the parabolic bull run associated the The upcoming Cardano Shelley upgrade. Right now, the most important resistance for Cardano ADA is at $0.1000. If it is able to cross this resistance, more gains will be gotten near-term. Will the Cardano ADA price cross the $0.1000 level again? Is the Cardano price prediction 2019 still bullish? How high will Cardano go?

Cardano News Today – Cardano Latest Update – Cardano Price Prediction 2019 – ADA Price Faces Hurdles

In our Cardano news yesterday, we talked about a bullish Cardano price prediction. According to the post by a reputable member of the cryptocurrency community, the price of ADA will rise by more than 100% after the Cardano Shelley upgrade. While this Cardano price prediction appeared far fetched, the person who made the prediction provided a technical chart to support the analysis. A mega cryptocurrency news website, CCN Markets also agreed with the price prediction.

Yesterday, the price of Cardano ADA fell against the USD losing the support at $0.0900. The good thing is that the buyers were able to hold their ground around $0.0870 preventing more loses. The price of Cardano had already fallen below the 25 day simple moving average and was struggling to recover above $0.0890 were it faced several hurdles. It tried to clear the resistance at $0.0920 but failed, it also failed to move above the 50% retracement level of the last fall from $0.0952 to $0.0878.

If the Cardano ADA bulls manage to move above the resistance at $0.0950, they will face sellers at $0.0972. The next resistance will be at $0.0984 and this would pave the way for a surge to the $0.1000 level. If the bulls don’t succeed, the bears will drag the price as low as $0.888 near-term.

Cardano News Today – Cardano Price Prediction 2019 – Current Price Of ADA – Why Is ADA Falling?

The team behind Cardano has a lot going on. For starters, there is the Cardano Shelley upgrade that is going to change the game for ADA making it the most decentralized blockchain in the space. Let’s not forget that the Cardano team recently signed an MoU with the ministry of education in the state of Georgia. The anticipation surrounding the Cardano ADA upgrade alone is enough to ignite a parabolic bull run. So, why is the ADA price falling?

Cardano (ADA) Price Today – ADA / USD

Name Price24H (%)
Cardano (ADA)
$0.052103
-11.30%

There are two main reasons why the price ADA is falling. For starters, the entire altcoin market is correcting lower following the recent bull run. Secondly, the price of Cardano ADA is forming a 10-month long base. This means that it is preparing for a more sustainable bull run. The Cardano price prediction 2019 is still bullish so this may not be the best time to sell off your tokens. Wait for a recovery to occur and take advantage of the dip. However, as stated in our previous Cardano news, the cryptocurrency market is unpredictable. There is no way to know if the price will surge as predicted. So, make sure you proceed with caution.

What do you think about the Cardano price prediction 2019 in our Cardano news today? Will the price of Cardano surge significantly after the Cardano Shelley upgrade? Share your thoughts about the price of Cardano in the comment section below.

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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