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Cardano {ADA} powered by bulls; David Esser AMA scheduled for tomorrow evening

Bitcoin

Cardano is now ranked at #11 on coinmarketcap, above TRON but below Stellar and Monero. The price of ADA climbed by 1.85% in the course of the past 24-hours. The trading volume recorded is $51.690 million, while the supply has 25,927,070,538 ADA coins in play. Do note that ADA coins can be mined [for more details, check out their page dedicated to Ouroboros, a PoS algorithm]. ADA is priced at $0.052471.

So far, Cardano has been undervalued in the market. While this project aims at establishing a “3rd Generation Blockchain”, the Shelley Phase hasn’t been implemented fully. This has led to many complaining about developers. Thereby, a new video detailing Multi-node Communication has been uploaded. Do check it out if you have any doubts:

This video [by Rupert Horlick and Duncan Coutts] presents to us a behind-the-scenes look of how far the project has progressed. Another video will be unveiled after a day, which has led to few being excited.

Although, some ADA supporters refuse to abandon Charles Hoskinson. “Rome wasn’t built in a day” is the most common retort available within the community. The naysayers have to remain patient if they wish to witness Cardano in all its splendour. Hopefully by 2020, the Goguen phase will kick-off. The IOHK and Emurgo contracts will last till 2020.

The ADA/USD candlestick chart [for Bittrex on tradingview] for the day shows that bearish pressure is still present. Although, the peaks for the Awesome Oscillator have turned green which indicates a trend change might be on the way. The daily RSI [which was below 30 on 7th, 8th and 9th of August] is now at 41.92 and is headed upward.

The Ichimoku Cloud is still red. ADA will face resistance near the $0.062 level, if further boosts are noted. Support exists close to the $0.0467.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.