ADA Price
Cardano price chart paints ‘Burj Khalifa’ with 7-month losing streak — More losses ahead?
Cardano (ADA) price is in the process of painting its seventh red monthly candle in a row as the token fell to its lowest level since February 2021. The trend saw ADA’s price rising nearly 800% to $3.16 between February 2021 and September 2021, followed by a complete wipeout of those gains entering October 2022. Amusingly, the entire price action took the shape of the “Burj Khalifa,” the world’s tallest skyscraper in Dubai. Ada Khalifa pic.twitter.com/KE2SxTO3bN — Trader_J (@Trader_Jibon) October 19, 2022 ADA price eyes 35% price crash The ADA price correction began primarily in the wake of a similar downtrend across the cryptocurrency market, led by the Federal Reserve’s aggressive interest rate hikes to tame rising inflation. Even an optimistic Cardano netwo...
Cardano gets listed on Robinhood but ADA bulls are running out of steam, risking 40% drop
ThCardano (ADA) market has witnessed back-to-back pieces of good news since Aug. 31, from its listing on Robinhood, a U.S.-based retail investment platform, to the release of its first lending and borrowing protocol, Aada Finance. Additionally, Cardano developer IOHK stated that they are close to clinching “three critical mass indicators” that would lead to the launch of their long-awaited Vasil hard fork in September. Vasil aims to improve Cardano’s scalability and transaction throughput through pipelining. The upgrade could also improve the decentralized application (DApp) and smart contract capabilities by changing the Plutus script, a programming language used for smart contracts on the Cardano blockchain. This week, we’re well on our way to hitting our...
Can Cardano’s July hard fork prevent ADA price from plunging 60%?
Cardano (ADA) has started painting a bearish continuation pattern on its longer-timeframe charts, raising its likelihood of undergoing a major price crash by August. ADA price in danger of a 60% plunge Dubbed the “bear pennant,” the pattern forms when the price consolidates inside a range defined by a falling trendline resistance and rising trendline support after a strong move downside. Additionally, the consolidation moves accompany a decrease in trading volumes. Bear pennants typically resolve after the price breaks below their trendline support and, as a rule, could fall by as much as the height of the previous big downtrend, called a “flagpole,” as illustrated in the chart below. ADA/USD three-day price chart featuring “bear pennant'”setup. So...
3 reasons Ethereum price risks 25% downside in June
Ethereum’s native token Ether (ETH) has dropped more than half of its value in 2022 in dollar terms, while also losing value against Bitcoin (BTC) and now remains pinned below $2,000 for several reasons. What’s more, ETH price could face even bigger losses in June due to another slew of factors, which will be discussed below. Ethereum funds lose capital en masse Investors have withdrawn $250 million out of Ethereum-based investment funds in 2022, according to CoinShares’ weekly market report published May 31. The massive outflow appears in contrast to other coins. For instance, investors have poured $369 million into Bitcoin-based investment funds in 2022. Meanwhile, Solana and Cardano, layer-one blockchain protocols competing with Ethereum, have attracted $104 million and ...
These 3 cryptocurrencies are taking an even bigger hit during Bitcoin’s price slump
The cost to purchase one Bitcoin (BTC) has dropped almost 10% in the last seven days and has been eyeing extended declines as it drops below $40,000, its interim psychological support, on Jan. 10. BTC/USD weekly price chart. Source: TradingView Nonetheless, the losses suffered by Bitcoin still appear less than that of some of its top crypto rivals’ performances. For instance, Cardano (ADA), the seventh-largest cryptocurrency by market valuation, has dropped by nearly 11% to around $1.15 in the last seven days. Similarly, Ripple (XRP), the eighth-largest by market capitalization, has dipped by around 10% to nearly $0.75 in the same period. Meanwhile, some cryptocurrencies listed among the top 50 digital assets have experienced bigger losses between 15% and 30% in the last week. They i...
