Cardano News Today – Headlines for October 16

Cardano News Today – Altcoins seem to have been doing pretty well over the past month. Bitcoin (BTC) has been relatively stagnant, as it lacks bullish sentiment to trigger a major upward trend. Bitcoin (BTC) has been locked down and its dominance level is also reducing. However, while the entire market has not experienced any major move recently, altcoins are actually performing better than Bitcoin. Some altcoins are posting more gains and showing less volatility than Bitcoin.

This had led many to wonder if the much-awaited return of altseason has come. The prices of various altcoins have been increasing throughout this year. Nevertheless, despite the considerable increases, they could never come close to the price mark of the leading digital currency in the market. Some altcoins such as Stellar Lumens (XLM) have had their value increased, and some others have decided to join the trend.

Cardano (ADA) Price Today – ADA / USD

NamePrice
cardano
Cardano
$0.143

Cardano (ADA) and Other Altcoins Set to Lead the Return of Altseason

A technical analyst and the creator of Waves & Particle Trading System – Mitoshi Kaku – recently said that there is a chance of many altcoins uptrend. Ripple’s XRP, Ethereum (ETH), Cardano (ADA), and Litecoin (LTC) are some of the altcoins to lead the return of altseason, according to Kaku.

Kaku said that a few examples of altcoins that have similar cycles and W&P Pivots are Ethereum (ETH), Cardano (ADA), Neo (NEO), Zcash (ZEC), XRP (XRP), and Litecoin (LTC). In a tweet, he said:

Around 85 percent of the altcoins I have been analyzing for the past couple of months are giving me major pivots for March and April 2020. Interesting…”

There Is a Potential Uptrend for Cardano (ADA), ETH, LTC, and XRP

According to Kaku, the weekly time frame of the Ichimoku cloud indicator suggest that there is a chance of an upward trend for Cardano (ADA), Litecoin (LTC), Ethereum (ETH), and XRP (XRP). He added that the position of Ichimoku could enable a gradual uptrend for a period between five months and seven months. According to his analysis of the characteristics of individual altcoins, Ethereum (ETH) is likely to be consolidating until April next year. Ripple’s XRP is like to start an upward movement along with an uptrend or a retracement.

Litecoin (LTC) might be starting a swift upward movement in the near future. Cardano (ADA) seems to be having the most probable and highest potential of an upward trend. This means Cardano (ADA) has the potential to do better and pave the way for other altcoins, possibly pioneering the next altseason.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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