Cardano (ADA) Trades Bullish Following Cardano Shelley Testnet Activation, Can The Bulls Hold The Line?

Cardano News Today – Cardano has been trending on the cryptocurrency space for a while now. Apart from the obvious reason, which is the Cardano Shelley upgrade, another reason why Cardano is trending is that people are beginning to appreciate the Cardano Marlowe. Per our Cardano news and Cardano price prediction yesterday, Marlowe is a project built and funded by IOHK which allows people to build financial smart contracts on the Cardano blockchain even if they do not have strong knowledge of blockchain technology. With all the attention Cardano is getting, the ADA token has been enjoying a bull rally. How high will Cardano ADA price go? Will the Cardano price prediction 2019 be bullish for the rest of the year or is this just a temporary push?

Cardano News Today – Cardano Price Prediction 2019 – Cardano ADA Is Bullish Thanks To Cardano Shelley

Now that the Cardano Shelley testnet is active, users can start staking on the Cardano blockchain. When the Cardano Shelley upgrade is activated on the mainnet, it will have what it takes to overtake Ethereum as the world’s foremost decentralized computer. Users that are currently staking are having a feel of what the future will look like when governance of the Cardano blockchain is transferred from IOHK to the Cardano community. According to the Cardano website, there will be three stages of the release;

“Phase 1: Enable users to host a Rust self node and establish a basic stake pool configuration.

Phase 2: Connection of various nodes into a “single unified testnet.”

Phase 3: Initiation of delegation and incentives scheme.”

Since the beginning of the year, Cardano ADA price has been bullish in anticipation of the Cardano Shelley upgrade. While it has also suffered a few drawbacks, price of the ADA token is expected to surge by at least 100% after the Cardano Shelley upgrade is activated fully. Within the last four days, the bulls have been in control of the market. The price of ADA surged from $0.0877 to $0.096. The bulls will most likely drive the price as high as $0.100 near-term.

Cardano News Today – Cardano Shelley Upgrade – Current Price Of ADA

At the time of writing, the price of Cardano ADA was $0.095120. This means that it is up by 1.70% against the USD and up by 5.35% against the price of BTC. The trading volume over a 24 hour period is $143,162,661 and the market capitalization is $2,466,185,942. Cardano ADA has found support around the 20-day SMA curve which happens to be at the upward trendline. With the trend firmly above the 200 and 50- day simple moving averages, we should not expect any significant drop in price soon.

Cardano (ADA) Price Today – ADA / USD [ccpw id=”17320″

According to the Cardano price analysis on FXStreet, the Bollinger jaw is widening. This is an indication of high volatility. Since the price to flirting around the upward curve, the volatility will most likely be upward. All the other technical indicators are bullish including the Elliot wave and the MACD. While the price is currently correcting lower, there is still a strong possibility of an upward break. Before the end of the year, ADA will most likely test $1

What do you think about the Cardano price prediction 2019 in our Cardano news today? Share your thoughts 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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