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Cardano Price: Upward Momentum Will Arrive Soon Based on Technical Analysis

The cryptocurrency markets are stuck between upward momentum and going down in the red even further. More specifically, the Cardano price shows some one-hour bullish signs, yet had suffered significant losses over the past 24 hours. A few interesting days loom ahead in this regard.

Cardano Price Moment Might Intensify

It should not take long for all major cryptocurrencies to note some positive momentum this week. Most of the big losses are already behind us, by the look of things. Instead, some currencies are showing bullish momentum outside of the top 20, which means the tide should turn for all currencies assets, and tokens in the top 20 as well.

If the Cardano price is any indication, the situation will turn bullish fairly quickly. It seems the market isn’t intent on letting this currency dip below $0.08, for the time being. If that is indeed the case, there is a very good chance the Cardano price will resume its bullish uptrend sooner rather than later. That would certainly be interesting to keep an eye on.

According to social media, it would appear there is a case to be made for a near-future Cardano price uptrend. It would appear Cardano has successfully pushed out of a descending triangle, according to CryptoKeeper. That should elevate the ADA value back into the green sooner rather than later. How high the price will go, is a different matter altogether.

Crypto Freak seems to echo a very similar statement in this regard. Although the technical analysis is slightly different, there is a very real chance the Cardano price will turn pretty bullish before this week is over. While technical analysis only tells part of the story, it is evident things point toward a very interesting coming few days where ADA is concerned.

Last but not least, BTC Jedi is convinced there are only three cryptocurrencies which are designed to be held as of right now. Bitcoin for a store of value, Cardano for best platform, and the unknown WePower for passive energy. It is especially the Cardano part which will be of great interest to a lot of people.

As is always the case, one has to keep an eye on the cryptocurrency markets as a whole. For the Cardano price, a lot will depend on what happens to Bitcoin in the near future. For the time being, it seems anything is possible in the cryptocurrency industry. This means there is a good chance positive momentum will materialize sooner rather than later.

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Real Reason Why China Doesn’t Want Blockchain: Strict Censorship

The Cyberspace Administration of China is tightening its stance against anonymity offered under the garb of blockchain technology. The central internet regulator, notorious for its role in building the so-called “The Great Firewall of China,” has drafted new regulations that would require local blockchain companies to register users with their real names and national identification card numbers. The proposal surfaced in the wake of a two decades old sexual assault case at a top Chinese university, which the authorities hid from the public eye for years. An activist published an open letter on social media, including WeChat and Weibo, to provide details about the case to the public. The news attracted censorship, after which an anonymous poster published the same letter on Ethereum blockchain, a decentralized public ledger away from the Chinese jurisdiction. As a result, almost everybody in the world can now read the letter. Immutable Ledgers are Illegal The efforts of the authorities have the letter removed from the Ethereum blockchain could have led them to an understanding that they could not control it. Any information becomes immutable as soon as it gets recorded on a public ledger. The entire foundation of a decentralized ledger system conflicts with how the Chinese government prefer to control information. Their laws seek mutability – allowing authorities to chop or to add data that suits the state’s agenda – which public blockchains cannot offer. At the same time, China is flourishing with startups offering services at the top of blockchains, owing to more than 200 blockchain patents and a multi-billion dollar worth of investments that are already in line. Anonymity seems to be the only challenge that could keep regulators worried about blockchain’s mass adoption in the country. They have already enforced rules which require people to make registration with real-names on social media and online forums. But for what it may look like, the same rules cannot be applied on the immutable blockchains. ISO/TC 307 China until now had not developed a robust framework on cryptocurrencies and blockchain. With their new stance against anonymity offered by public chains, the authorities are likely to run into a conflict with its members at the International Organization for Standardization. The ISO/TC 307 Blockchain and Distributed Ledger Technologies commission, which conceptualized and is now running a global blockchain standard program with 39 participating and 13 observing countries, should find it difficult to come with an enterprise and public-interest framework when one of its PARTICIPATING members are against one of the core blockchain applications. The democratic countries in the 39-member list have shown seriousness towards data privacy in the past. And it is likely that their version of blockchain would appear different from what China has in mind – a censorship-enabled ledger commonly known as a private database. The anti-blockchain anonymity law has not come into effect, yet, but its likelihood of being imposed is vast considering China’s negative attitude towards anonymity – especially financial privacy – so far. The international standards for the blockchain industry, meanwhile, expects to be drafted by the end of 2019. The post Real Reason Why China Doesn’t Want Blockchain: Strict Censorship appeared first on NewsBTC.

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