Cardano (ADA) On A Positive Spell: Can It Surpass $0.050?

[sirty143]

Since the market began falling in early 2018, most cryptocurrencies lost over 80% of their value. Despite several attempts throughout the year and at the beginning of 2019, most coins remain in their all-time lows. One coin that has lost much of its glory in the last 14 months or so, is Cardano (ADA).

The coin has lost over 90% of its value from early 2018, as well as its ranking position which followed a catastrophic drop in its market cap and above this, the Cardano project has been stagnant in project development leading to investor frustration and drop in confidence in its future success.

Cardano Starting To Turn The Tide

Although things have been looking bad for the project and token for the longest time, things seem to be changing. The last couple of days have seen ADA begin to change its trend and turnaround things. If the positive spell is to persist, this could be the best month for ADA yet. In the last seven days, ADA has climbed from around $0.041 to hit a high of $0.048 as of yesterday. Although the coin found resistance around this area and a price correction saw the coin drop back to $0.046, this remained a huge achievement.

At the time of press, the bulls are consolidating and look ready to retest the $0.048 position again, this time, with a little bit more aggression, they look set to break it. If successful at breaking the resistance position, this will give them a real shot at reaching $0.050, a position they have not hit since the start of the year. ADA is up by nearly 6% at the time of press, trading well above $0.048.

To hit the coins year high of $0.052 could be facilitated by the launch of the projects next key phase which is expected in Q1 of 2019. In fact, this in itself could be what is helping accelerate growth for ADA right now. The coming phase is one of the projects most significant phases as it will make the Cardano blockchain fully decentralized. Although Cardano has achieved plenty without being fully decentralized, it stands to gain even more once it is.

In anticipation of this phase, ADA is expected to continue gaining and If successful, Cardano could continue soaring for a long time to come.

Source: ZyCrypto

At the time of writing, Cardano (ADA) is trading at $0.047553 with 3.14% increase in the last 24 hours. So, do you think it can really surpass the $0.050 mark?

[TanPhan]

Cardano is on the way break through that price but seems like a lot of sell orders at this price and we have to consider this is a strong resistance for Cardano

[IyemRoker]

"At the time of writing, Cardano (ADA) is trading at $ 0.047553 with 3.14% increase in the last 24 hours. So, do you think it can really pass the $ 0.050 mark?"

0.04 to the price of 0.05 it only needs a little circulation from Cardano.
It is certain that the prediction of this price increase will greatly overlook the price of Cardano. I am sure that because such a nominal is very small for Cardano, I have a lot of full support from Emurgo Investors and FX Trading.

[Sudarmono]

it's true that since 2018 many coins have lost their value, but for 2019 I will still believe that the cardano will be able to rise again.