The relationship between cryptocurrencies and the people at Capitol Hill has not always been smooth. It however seems the rift could soon fade away as regulation talks pick pace with some politicians already developing interest in crypto assets. According to a recent report by Unusual Whales, a platform that tracks unusual market activity, more Congress […]

The recent dynamics of Cardano’s (ADA) price follow the general trend observed in the wider crypto market as its price has rapidly declined by 5% during the past 7 days, indicating a serious market correction. While minor holders express their concerns regarding the future of cryptocurrency and its investment potential, large holders (a.k.a whales) continue […]

Cryptocurrency is under attack from some influential individuals who are bent on sneaking in harmful bills through the U.S. Senate, pushing those bills to be passed as laws, and in this way bringing the entire industry to its knees. The latest effort is through a proposed so-called America COMPETES Act. The proposed bill contains elements […]

A billionaire who successfully forecasted the bitcoin price aching sell-off to the $38K zone believes that the benchmark cryptocurrency will not be able to stage a meaningful recovery until the sinking stock market finds a floor.  Mike Novogratz, the veteran investor behind crypto-centric firm Galaxy Digital, shared his market outlook in recent tweets. Bitcoin, Ethereum, […]

Key Takeaways Cardano ousts Ethereum in transaction volume and cheaper fees amidst growing network activity.  The launch of Sundaeswap, Cardano’s first DEX, has been a key driver. However, the price of ADA has not escaped the market crash. Cardano (ADA), the biggest proof-of-stake (PoS) blockchain network, is continually outperforming Ethereum (ETH) in transaction volume. Over […]

Cardano's first dApp finally went live on mainnet but several platform errors and many failed transactions caused by network congestion left users frustrated. 

The crypto market cap is down by roughly $100 billion in a day as bitcoin and most altcoins went on another ride south.

ADA coin price jumps more than 10% to break above the resistance level at $1.5 and shows a retest in action. Should you buy more at retest? The company was created by Charles Hoskinson, one of the co-founders of Ethereum and the CEO at IOHK, Cardano is one of the biggest blockchains that successfully implemented a proof-of-stake consensus mechanism. The new consensus uses less power than the proof of work algorithm that Bitcoin is built on. Cardano announced its highly-anticipated Alonzo update. With it being updated, the platform now supports a variety of crypto-related applications, such as non-fungible tokens (NFTs) as well as smart contracts. Let us move ahead to read about the Cardano technical analysis. Past Performance of ADA The ADA coin price shows a growth of more than 10% in the past 24 hours, resulting in the breakout of the resistance level at $1.5. Moreover, the price action forms a solid bullish engulfing candlestick in the daily chart. The price jump and the 100% growth in the intraday trading volume show a boom in buying pressure.  ADA/USD Daily Chart ADA Technical Analysis The V-shaped in the ADA coin price gives a bullish breakout of the double bottom pattern indicated in our previous technical analysis. The price retraces to retest the bullish breakout. Therefore, a tail formation near the neckline at $1.5 can be seen shortly. Crucial EMAs (50, 100, and 200) in the daily chart still maintain a bearish alignment, and the price jump faces rejection from the 200-day EMA. However, the post-retest bull run can bring the potential to rise above it.  The RSI indicator at 63% shows an end in the sharp growth as the slope retracts with the price facing rejection. Nonetheless, the slope remains above the central mark suggesting an increased bullish momentum.  The MACD indicator does a growing MACD line as the gap with the signal line increases. Moreover, the increasing intensity of the bullish histogram indicates a rise in underlying bullishness. Therefore, the ADA price action and the technical indicators indicate a boom in buying pressure and trend momentum.  Upcoming Trend The breakout of the double bottom pattern with the boom in buying pressure and trend momentum indicates the start of a bull run. Therefore, a price jump in ADA coin to $2 is possible after retesting the neckline breakout. The price action suggests upcoming resistance levels at $2 and $2.30. And, in case of a bearish reversal, the price can find support at $1.5 and $1.125. At press time, the sentiment chart gives a “NEUTRAL” signal for the ADA coin. Technical Analysis for ADAUSD by TradingView

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It’s been a pretty good start to the week for the Cardano (ADA)! Despite the broader market correction, the cryptocurrency continues to move north with another 8% gain. As of press time, Cardano’s ADA is trading at a price of $1.60 with a market cap of $53.4 billion. With the recent price rally, Cardano has

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