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Cardano To Surpass $0.5, But $ADA Holders Will Continue To Buy $BRISE

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Cardano To Surpass $0.5, But $ADA Holders Will Continue To Buy $BRISE

Key Points:

  • Cardano pulled back today but could still go bullish
  • Cardano holders continue to buy Bitgert
  • Bitgert is gearing for a bullish explosion soon

The crypto market enjoyed a 3 days breather after a long bear run that lasted almost two weeks. The June bear run left many cryptocurrencies at their lowest price in almost 12 months. Cardano is among the crypto coins that have been hard hit by the bearish market, where the price was pushed down to $0.42.

This Cardano price was last seen in early Feb 2021. The Cardano coin would then rise to hit $0.5 yesterday but has since pulled back to $0.47 at the time of this writing. Crypto experts say that the Cardano price might surpass $0.5 if the bulls take over the market in the next few days.

But if bears run the market once, the Cardano price might continue to tumble. This is one of the biggest worries that Cardano holders have, which is why they are looking for mooning coins. Bitgert (BRISE) is one of the mooning crypto coins many Cardano holders are buying today.

Bitgert coin has been doing very well in the market today. One thing that stands out about the Bitgert coin is the possibility of exploding the price this year. In fact, crypto analysts have put Bitgert among the coins likely to post a bullish explosion in 2022. This is because of the massive developments that the Bitgert team has laid for this year.

This explains why Cardano holders are over the Bitgert project. Bitgert is a crypto project that has the potential to make Cardano holders buying Bitgert today good profits by EOY. In fact, Cardano holders stand to make good profits from Bitgert than they might make on the Cardano project.

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The Bitgert coin has more massive developments coming up this year than Cardano. The Bitgert roadmap V2 has many Bitgert products coming soon. There will also be hundreds of Bitgert projects coming from the Bitgert Startup Studio. These are developments that are likely to make Bitgert the next big thing, bigger than Cardano.

In addition to that, Cardano holders are also attracted by the Bitgert’s ability to withstand bear markets. Bitgert has maintained a stable price during the bear markets and massive gains during bull runs. So Cardano holders stand to gain much from buying Bitgert. That’s why Cardano holders are accumulating Bitgert today.

The post Cardano To Surpass $0.5, But $ADA Holders Will Continue To Buy $BRISE appeared first on .

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Cardano Vasil Hard Fork Postponed To Allow For More Testing

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Cardano Vasil Hard Fork Postponed To Allow For More Testing

A The Input-Output Global (IOG) team has said it will postpone sending the Vasil hard fork update proposal because it still needs to solve seven outstanding bugs that are currently ranked as non-severe. While acknowledging that the news will likely be disappointing for some, the IOG team insisted it was “taking an abundance of caution to ensure that we do this deployment correctly.”

More Time Needed

The core Input-Output Global (IOG) team working to facilitate a Cardano Testnet upgrade announced recently that it had “agreed” to delay sending the Vasil hard fork update proposal as previously stated. The team hinted that some seven outstanding bugs, none of which have been ranked as severe, necessitated the delay.

According to a June 20 blog post, the decision to postpone the hard fork followed the core team’s end-of-the-week evaluation call. While noting that the team had managed to get through 95% of the Plutus V2 test scripts, the post said the core team still needed to run a few outstanding items to ensure everything is working as expected. The post added:

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We have determined we’ll need a few more days for this. This puts us behind schedule on our previously communicated target date of June 29 for a mainnet hard fork.

Meanwhile, in the blog post, the IOG team describes the work on the Vasil hard fork as the “most complex program of development and integration” it has worked on to date, which has also required close coordination across the ecosystem.

Mainnet Upgrade Pushed Back

According to the blog post, the final decision to hard fork the Cardano Testnet will be made in consultation with “members of the SPO and DApp development community.”

The post notes:

Today, IOG and the Cardano Foundation have agreed a new target date to hard fork the testnet at the end of June. Once completed, we will then allow four weeks for exchanges and SPOs to carry out any required integration and testing work. This is only reasonable and should not be rushed. The working assumption should therefore now be a Cardano mainnet hard fork occurring during the last week of July.

While acknowledging that the news of the hard fork delay is likely to disappoint some, the IOG team insisted the decision had been made to ensure that deployment was done correctly. As previously reported by Bitcoin.com News, Cardano supporters anticipated the hard fork would help the ADA token breach the $1 mark by the end of June. However, since the announcement, the token has ranged between $0.51 and $0.46.

The IOG team in meantime warned that “no timelines can be absolute in software development.” If more time is still needed the developers will be fully comfortable with this, the core team explained.

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What are your thoughts on this story? Let us know what you think in the comments section below.

Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Cardano (ADA) Moved Upwards After Consolidation, What To Expect Next?

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Cardano (ADA) Moved Upwards After Consolidation, What To Expect Next?

Cardano showed an uptrend after it was trading laterally, the coin has now settled above the $0.47 support mark. Over the past week, the coin gained 7.2% but over the last 24 hours ADA lost 1% of its market value. After the consolidation, the coin targeted its immediate resistance mark.

If the coin continues to remain at the current price level then bulls can be back in the market for a longer time period. The buyers also seem to be back in the market which has pushed ADA to show signs of relief.

If buying strength loses its vigour then, the coin can move to $0.45, post which the coin can trade as low as $0.40.

Even now the coin seems to be trading within a tight range, but the push above the $0.49 mark has displayed itself as a sign of bullishness. With consistent buying strength, Cardano can move past the $0.50 price mark.

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Cardano Price Analysis: Four Hour Chart

Cardano was priced at $0.51 on the four hour chart | Source: ADAUSD on TradingView

ADA was trading at $0.51 on the four hour chart after it broke past its consolidation phase. The closest support level of the altcoin stood at $0.47 but slight push from sellers can drag prices to $0.40. There was bullish signals on the four hour chart.

An ascending trendline points at bullishness (yellow). Push from buyers can help Cardano to rise to $0.52 and then to $0.56. To invalidate bearish thesis completely the coin has trade above the $0.56 for substantially long.

The volume of Cardano traded also shot up indicating that buyers were active in the market. The volume bar was green signifying bullish price action.

Technical Analysis

Cardano displayed increased buying strength on the four hour chart | Source: ADAUSD on TradingView

Buying strength painted consistent upward movement over the past few days. The Relative Strength Index painted the same picture, the indicator was well above the half-line. This reading is tied to bullishness as buyers have taken over the market.

Other technical also indicated buyers taking over. The price of ADA was above the 20-SMA line. A reading above which signifies that buyers were in control of the price momentum as they were responsible for driving it forward.

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Related Reading | Cardano Resists Downward Pressure, Can ADA’s Price Push Bears Away?

Cardano displayed buy signal on the four hour chart | Source: ADAUSD on TradingView

ADA’s buying momentum showed positiveness on the four hour chart. Moving Average Convergence Divergence depicts price momentum and a trend reversal too. MACD underwent a bullish crossover and flashed green signal bars.

These green bars are buy signals for the coin, this meant that bullishness was present in the market. Other indicators too have shown strength in buyers.

Bollinger Bands indicate price volatility and they were parallel on the chart. Parallel Bollinger Bands means that price of the asset will hover around the same price range and that further indicates continued relief for the coin.

Related Reading | Will The Vasil Hard Fork Trigger A Cardano (ADA) Bull Run?

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Featured image from UnSplash, chart from TradingView.com

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Cardano: Evaluating if a move upward could be around the corner

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Cardano: Evaluating if a move upward could be around the corner

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the opinion of the writer.

Bitcoin [BTC] fought its way back above the $20k mark after floundering about the $19.8k mark the previous day, to trade at $21.1k at press time. Cardano [ADA] has been trading within a range for a little over a month now. This presented a chance for traders to enter the market when the price reached either extreme of the range. Cardano saw a bounce from the range lows at $0.44 and presented a possible buying opportunity in a lower timeframe.

ADA- 1 Day Chart

Source: ADA/USDT on TradingView

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On the daily timeframe, ADA had traded between the $0.44 and $0.65 support and resistance levels for nearly six weeks. The mid-point of the range lay at $0.54, and ADA exchanged hands at $0.49 at press time.

The mid-range represented a tough resistance to the bulls, alongside the range highs. Therefore, the mid-range level at $0.54 can be used to take profit on any buys from lower down the charts.

Another factor that the daily timeframe unearthed was that the $0.488-$0.5 area acted as resistance. The current trading session was within this area but had not yet faced rejection.

ADA- 1 Hour Chart

Source: ADA/USDT on TradingView

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The hourly timeframe showed the $0.49 level to have some importance over the past week, as it has acted as both a support and resistance to ADA. Moreover, on the lower timeframes, the $0.5 was formidable resistance over the past few days. In the same time period, the price has formed higher lows as it pushed toward the resistance.

Ergo, the lower timeframe bias was bullish. The two Supertrend indicators also agreed as they flashed a buy signal for ADA on the hourly chart. But where would an ideal entry be?

Source: ADA/USDT on TradingView

The Stochastic RSI, in conjunction with the Supertrend indicator, can be used to time a lower timeframe entry. At press time, the Stochastic RSI formed a bearish crossover and headed lower. If it reaches the oversold territory, traders can watch ADA more closely. A bullish crossover in oversold territory, while ADA remained above the Supertrend indicators on the H1 timeframe, could be used to enter a long position.

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To support the bullish notion, we have both the RSI and the AO showing bullish momentum. The RSI rose above the neutral 50 line and has stayed above it. The Awesome Oscillator (AO) was also above the zero line.

At the same time, the OBV has steadily climbed higher. This suggested the presence of buying pressure behind Cardano in the past few days.

Conclusion

Above the hourly timeframe, the $0.54 area was highlighted as a strong resistance level. On the hourly timeframe, the $0.488-$0.5 area could offer traders an opportunity to buy ADA, with a bullish target of $0.53-$0.54 to take profit at. A stop-loss just beneath the $0.478 mark can be set. A session close below $0.48 would break the previous higher low, and flip the structure to bearish.

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