Cardano (ADA) was enjoying the uptrend last month. Following the price rally that insinuated a rise in the entire crypto market, crypto prices have nosedived again in the past week.<\/p>\n
ADA prices reaches buy zone
\nCardano lost 18% the past week
\nADA price drops 2.88% as of press time<\/p>\n
After the formation of that uptrend that drove the entire cryptocurrency market higher, prices crashed heavily in the past week. On average, the crypto market shaved off around 12% in the past week.<\/p>\n
Cardano lost roughly 18% and shoved ADA prices to the buy zone. So, is it advisable to buy the dip at this point? Or should buyers wait a little bit more for a price jump?<\/p>\n
According to CoinMarketCap, ADA price has dropped by 2.88% or trading at $0.4505 as of this writing.<\/p>\n
The \u2018Ethereum Killer\u2019<\/p>\n
Dubbed the \u2018Ethereum Killer,\u2019 Cardano (ADA) is a public and decentralized DApps and Smart Contract blockchain that was launched in 2017 to be bigger and better than Ethereum. <\/p>\n
It uses the Proof-of-Stake algorithm which is considerably more energy-efficient than what Ethereum is equipped with.<\/p>\n
Considering the many lapses or shortcomings that Ethereum has such as its sluggishness and expensive gas fees, Cardano is said to set the benchmark for pivotal upgrades using modern technology.<\/p>\n
With Cardano\u2019s \u201cAlonzo\u201d upgrade, the network has grown in 2021 to be more secure, scalable, technically advanced, and resilient.\u00a0<\/p>\n
Cardano (ADA) To Breach $0.50 Level?<\/p>\n
The crypto market suffered a tremendous slump of 12%. Bitcoin has lost roughly 11% while Ethereum dropped by 16%. The top gainers the previous week seemed to have exchanged hands and have darted on a bearish route this week.<\/p>\n
Cardano had an amazing growth from its low of $0.40 and then peaking at a high of $0.59, which is equivocal to gains of roughly 47%.<\/p>\n
Today, the prices of the crypto market made a price adjustment and dipped lower. The prices reached the support zone of $0.45 and are now retracing higher. Cardano retraced to $0.47.<\/p>\n
Now, the prices could consolidate from $0.45 to $0.50, and then the prices may probably shoot back up and peak at the upper consolidation mark of $0.50. From that point, ADA\u2019s direction will depend on the current market sentiment.<\/p>\n
So, if the crypto market shoots way up, ADA might breach the $0.50 mark upwards.<\/p>\n
At this point, the hype surrounding Ethereum\u2019s merge has died down and there are no huge price pumps expected. <\/p>\n
Crypto total market cap at $998 billion on the daily chart | Source: TradingView.com<\/p>\n
Featured image from AMBCrypto, Chart from TradingView.com<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Cardano (ADA) was enjoying the uptrend last month. Following the price rally that insinuated a rise in the entire crypto market, crypto prices have nosedived again in the past week.<\/p>\n
ADA prices reaches buy zone
\nCardano lost 18% the past week
\nADA price drops 2.88% as of press time<\/p>\n
After the formation of that uptrend that drove the entire cryptocurrency market higher, prices crashed heavily in the past week. On average, the crypto market shaved off around 12% in the past week.<\/p>\n
Cardano lost roughly 18% and shoved ADA prices to the buy zone. So, is it advisable to buy the dip at this point? Or should buyers wait a little bit more for a price jump?<\/p>\n
According to CoinMarketCap, ADA price has dropped by 2.88% or trading at $0.4505 as of this writing.<\/p>\n
The \u2018Ethereum Killer\u2019<\/p>\n
Dubbed the \u2018Ethereum Killer,\u2019 Cardano (ADA) is a public and decentralized DApps and Smart Contract blockchain that was launched in 2017 to be bigger and better than Ethereum. <\/p>\n
It uses the Proof-of-Stake algorithm which is considerably more energy-efficient than what Ethereum is equipped with.<\/p>\n
Considering the many lapses or shortcomings that Ethereum has such as its sluggishness and expensive gas fees, Cardano is said to set the benchmark for pivotal upgrades using modern technology.<\/p>\n
With Cardano\u2019s \u201cAlonzo\u201d upgrade, the network has grown in 2021 to be more secure, scalable, technically advanced, and resilient.\u00a0<\/p>\n
Cardano (ADA) To Breach $0.50 Level?<\/p>\n
The crypto market suffered a tremendous slump of 12%. Bitcoin has lost roughly 11% while Ethereum dropped by 16%. The top gainers the previous week seemed to have exchanged hands and have darted on a bearish route this week.<\/p>\n
Cardano had an amazing growth from its low of $0.40 and then peaking at a high of $0.59, which is equivocal to gains of roughly 47%.<\/p>\n
Today, the prices of the crypto market made a price adjustment and dipped lower. The prices reached the support zone of $0.45 and are now retracing higher. Cardano retraced to $0.47.<\/p>\n
Now, the prices could consolidate from $0.45 to $0.50, and then the prices may probably shoot back up and peak at the upper consolidation mark of $0.50. From that point, ADA\u2019s direction will depend on the current market sentiment.<\/p>\n
So, if the crypto market shoots way up, ADA might breach the $0.50 mark upwards.<\/p>\n
At this point, the hype surrounding Ethereum\u2019s merge has died down and there are no huge price pumps expected. <\/p>\n
Crypto total market cap at $998 billion on the daily chart | Source: TradingView.com<\/p>\n
Featured image from AMBCrypto, Chart from TradingView.com<\/p>\n
<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-6058","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/6058","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=6058"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/6058\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=6058"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=6058"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=6058"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}