Confidence in Cardano Has Increased According to Weiss Ratings, What Does This Mean For ADA Price?

Confidence in Cardano has improved according to Weiss Ratings. According to reports, for the areas of fronting quality and research purposes, Weiss Ratings has reportedly shown confidence in the Cardano digital asset. On a number of occasions, the asset rating’s firm has expressed optimism regarding the future prospects of ADA as well as Cardano’s mission to become one of the leading dApp platforms around.

They have expressed optimism regarding the chances of the asset class despite the fact that the price of ADA is down by no less than 4.8%.

Cardano (ADA) Price Today – ADA / USD

Name Price
cardano
Cardano
$0.0460.432%

Cardano is Determined to Promote Quality and Stay on Top

Behind the Cardano Blockchain, Charles Hoskinson, one of the network’s chiefs, is the zeal to stay on top and remain one of the best. The mission to promote quality hasn’t changed for the network. ADA is perhaps one of only a few cryptocurrency projects that is going to audit dApps before launching them for the public. Hoskinson is the head of the IOHK wing of the Cardano triage.

Hoskinson is well known for his stand regarding how true decentralization should be. He is known to prioritize quality and strictly adhere to Blockchain guiding principles. Hoskinson shapes the path of the Cardano protocol. To that end, the Weiss Ratings, a top global US-based rating firm, has expressed optimism that Cardano will topple EOS in the near future. They believe that Cardano will be the leading dApp platform and the best in the world.

Weiss Ratings: EOS Centralized Cardano Will Overtake EOS as go To dApp Platform

Taking to their Twitter handle, Weiss Ratings, who recently bashed the EOS protocol, downgrading them due to concerns that the network is centralized said:

ADA’s genuine commitment to the code of high-assurance and thorough testing of products before release implies that its dApps will sit on a solid foundation. The network’s emphasis on the issue of security while transitioning to the PoS consensus protocol is crucial to the project. The features mentioned here may ensure ADA’s sustainability and impending market dominance.”

So far, ADA has been all over the place. After oscillating against the Dollar, there are signs of indecision. If the doji bars should be a point of reference, risk-off traders could find opportunity in lesser time frames. Additionally, risk-averse traders should remain on the sidelines, with the knowledge that gains over 9.5 cents could improve participation.

Buyers are currently in Control in Cardano Markets

Going by our previous ADA/USD trade pattern, we can see that buyers are also in control of ADA markets. However, with liquidation ceiling at the 9.5 cents position, the best approach for the digital asset is patience. Because any surge with high trade volumes over 9.5 cents will confirm the bulls have returned like it was in March.

Every dip will be an opportunity for traders with targets of 12 cents to 20 cents make gains. On the downside, losses under 7.5 cents and 6 cents will cancel this trade plan because the bears will step up aiming to drop to 3.5 cents or less.

A close above 9.5 cents will bring higher participation for ADA and take it over the $603 million market cap from June 26. A sign of weakness that can authoritatively cancel this must equally have high trading volumes that can push prices over 6 cents or lesser.

 

Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.

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