Cardano (ADA) Readies For Critical Test As Market Cap Battle Heats Up

2020-8-10 22:50

The crypto market continues to flash signals of its bullish potential. But with tides ever so shifting some coins, it’s almost impossible for investors to keep up. For Cardano, its tide seems to be circling back and investors who have stuck with it and possibly reaccumulated in the last few days are about to reap big.

Since topping at $0.15 in mid-July, Cardano has been losing steam with a conservative correction seeing it revisit support at $0.13.

Support at this level has been strong but a rebound restrained at $0.14. However, coming out of the weekend, the bulls look set to get over $0.15. This move will reignite new interest and bullish sentiments that could lead to a new short term high. This would further allow the coin to catch up with some of the trending coins right now. When it topped a few days ago, it also reached 6th in the market ranking but since slipping it has been pushed to 8th. Now in 6th position is one of the most hyped coins in recent weeks, Chainlink (LINK).

Others enjoying substantial gains with the new wave are Tezos and Ethereum, both of which are up by more than 4% in the last 24 hours. With these gains and with most coins holding above recent supports, the total market cap remains above $350 Billion.

Altcoins Ready To Break Bitcoin Dominance

As the hype continues to shift and circle back, most investors believe that Bitcoin’s dominance is about to break. And as its price continues to limbo below $12K and its dominance clinging on 60%, it is set to fall by the altcoins strike. If it breaks below the 60% level and heads for 50%, last seen during the alt season, many analysts believe there is likely to be an altcoin blow up.

At the time of writing though, there is some stillness, a familiar calmness of retail investors trying to spot the week’s trend. With Cardano, Chainlink, and even Ethereum already recording substantial gains and testing higher resistances, the trend seems to be leaning on the positive.

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cardano market investors back circling tide impossible

Источник: zycrypto.com

cardano market → Результатов: 126


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Cardano (ADA) Next In Line For A Rally Following Shark And Whale Buying Spree

Cardano (ADA) has not exactly been the best performer in the last month. Instead, the altcoin’s price has continued to stall even during periods of market recovery. However, this trend could change pretty soon given the current accumulation trend among sharks and whales, something that could take a significant chunk of available supply off the open market and trigger another rally.

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Charles Hoskinson: Cardano Is Like An ‘Iceberg’ And The Coming Two Months Will Be ‘Wild’

The eleventh-largest cryptocurrency by market cap, Cardano (ADA), is like an ‘iceberg’ with a huge impact expected soon. At least that’s the word according to Charles Hoskinson. In a tweet on February 22, co-founder of Cardano Hoskinson, who is also an Ethereum alumnus, told the Cardano community to brace themselves for something big that is […]

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Non-profit blockchain project Cardano (ADA) has announced a strategic partnership with global consultancy powerhouse PwC to boost market adoption of its native token. Cardano’s CEO Hoskinson Announces PwC Partnership In a YouTube live stream on Monday (January 27, 2020), Input Output Hong Kong (IOHK) CEO and founder of Cardano Charles Hoskinson disclosed plans to pushRead MoreRead More.

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Near the top of the Bitcoin bull market in 2018, Cardano (ADA) was dominating. Everything. Aside from a few select altcoins in Ethereum, XRP, and BCH, ADA was at the top of the market, rallying on a seemingly strong team and the promise of Cardano becoming the next leading blockchain that could service everything and... The post appeared first on NewsBTC.

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