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ADA Prepares To Test All-Time Highs As Speculation Intensifies Cardano explodes over 20% to trade at $1.8, leading altcoins in mid-week recoveries. Development activity on the Cardano network surge ahead of the launch of smart contracts functionality. Cardano breakout has continued to make headlines this week. Data by CoinGecko shows ADA trading 20% in 24 hours, following an announcement that the blockchain network will soon support smart contracts functionality. At the time of writing, ADA is trading at $1.77 amid the push by the bulls to close the day past 1.8. The uptrend has been entirely consistent with Cardano flipping hurdles into formidable support areas. Cardano To Launch Smart Contracts Solutions The CEO of IOHK, Charles Hoskinson, has confirmed that Cardano will soon have smart contracts functionality. According to him, discussions and preparations have been completed, with Friday being the tentative day. However, he cautioned the community on onboarding the exchanges saying that this step will be “the final go-no-go.” We had a lot of discussions with partners and other people, and it looks like we are on track for Friday to announce the date. As the news reverberated across the market, Cardano shot up significantly, extending the breakout from July 22. Many analysts believe that this development will take Cardano to the next level, with the price predicted to hit the all-time of $2.5 within the next week. The short-term technical outlook shows that Cardano has a bullish outlook that continues to support the uptrend. For instance, the Moving Average Convergence Divergence (MACD) indicator still compels buyers to buy into ADA. In addition, a break above the immediate hurdle at $1.8 could bolster Cardano above $2. More buy orders will be triggered above this level, with speculation for gains above $2.5 increase at astronomical margins. It is essential to realize that the Relative Strength Index (RSI) is already overbought. Usually, overbought conditions are challenging to uphold. Hence, a correction is often expected after the RSI hits levels above 70. Currently, the technical index stands at 80, implying that a retreat is possible in the near term. Therefore, it is imperative to be cautious while trading Cardano, at least for now. Cardano Intraday Levels Spot rate: $1.8 Trend: Bullish Volatility: Growing Support: $1.4 and $1.2 Resistance: $1.8 and $2
BINANCE:ADAUSDLong
by CoinGape
1
ADAUSD 4h SHORT Entry and Target!ADAUSD 4h SHORT Entry and Target! - Using Market Structure, Price Action and everything else into account this would be a very good scenario that might play out, I will be taking profits at our previous low since we also have a 2.618 Fibonacci Extension right below it that doesn't necessarily have to be broken but I would love to come down to the 3-1 Fibonacci Extension since we also have a Weekly there. GOOD LUCK! AND REMEMBER, THIS ISN'T A GUARANTEE BUT RATHER AN IDEA, DO YOUR OWN RESEARCH AND TECHINICAL ANALYSIS BEFORE ENTRING TRADES!
BINANCE:ADAUSDShort
by UnknownUnicorn22622902