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A new Cardano (ADA) era may be coming with 100% potential correction

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One of the most common things to happen with cryptocurrencies is the price correction, as over the time the price of a coin can vary in remarkable ways to the point of even reaching a value of thousands of times above or below the original price. In this sense, taking into consideration the general performance of the market over the last eight months, many cryptos have had corrections, and in some of the cases, those corrections have reached the highest value that at a certain point the crypto had.

That is precisely the case of Cardano (ADA), the ninth largest cryptocurrency of the crypto verse by market capitalization. At the time of writing Cardano (ADA) has a price of $0.08838, a trading volume of $70,272,522, and a 5.17% price decrease in just the last 24 hours.

And it’s worth to mention that compared to the value that the coin had at the beginning of the year back in January, the current value of the crypto is 95 percent below its original… A dramatic change, to say the least.

But what can we expect from Cardano in the following days? Would it be possible that it continues the fall? If so, what will be the future of the coin? Let’s see the main details behind this.

Cardano (ADA) price predictions

According to ADA/BTC charts, Cardano is actually at the end of its correction after a long period in which it was trading in a pitchfork, and also in a falling wedge.

In this sense, even RSI has been trading in a falling wedge, and apparently, it may take the breaking point anytime soon. Nonetheless, we should expect more corrections soon, and that could mean that Cardano (ADA) may even reach a 100 percent correction before the end of the third quarter, a moment in which a new era would start for the crypto.

On the other hand, in accordance to ADA/USD charts, it results evident that the token has fallen to the support line of the 0.08 dollars, support that earlier was tested by a weekly candle, but that shortly after bounced back resulting in the construction of a hammer formation. Nevertheless, the crypto didn’t manage to keep its strength, and the price just plunged again as the market did.

The price is actually forecasted to break at the end of September, but one of the most remarkable things is that despite the drastic falls that the ADA has experienced, this hasn’t been interfering with the position that the token occupies in the market. Funny ha?

Few final words

Cardano (ADA) has still a lot to give concerning developments and its purpose, so despite reaching a 100 percent correction, we can be sure that there’s a lot to come for the crypto in the coming months.

Let’s recall that Cardano was founded by the once co-founder of Ethereum (ETH), Charles Hoskinson, a businessman who basically decided to improve all of the things Ethereum has not to date.

In this sense, Cardano has proven to be better than Ethereum already regarding what the blockchain has actually to offer. So stay tuned exciting things might be coming.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your thorough research before investing in any cryptocurrency and read our full disclaimer.

Photo by Javier Graterol on Unsplash

Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Altcoins

TRON (TRX) Is Likely to Go Big in June

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We are now halfway through 2019, and the situation in the crypto space is better than ever in the past year. Numerous cryptos are seeing large gains, often cut by brief periods of stagnation or small corrections, but the overall sentiment is obviously bullish.

Bitcoin sits way above the $8k mark, and while it struggles to go beyond $8,700, it is still trying to grow. Investors and analysts are quite bullish regarding the foreseeable future, and a lot of altcoins are expected to follow BTC in this regard. However, today, we would like to talk about one particular altcoin — TRON (TRX) — as well as why it is likely to go big in June.

TRON’s progress so far

As many people in and out of TRON community know, TRX is not a project that often sits still. It is rich with announcements, particularly when it comes to his CEO, Justin Sun, whose enthusiastic tweets often seem like hype building to many.

However, TRON made some massive progress in 2018, which was the worst year cryptocurrencies have ever seen. This is not something that can be achieved through hype alone, and the project needs to have true quality and value in order to see such massive development in the middle of the longest and harshest crypto winter in…

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Altcoins

IOTA (MIOTA) Pending Update Might Bring Huge Gains in Days to Come

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The crypto space is erupting once again, and if popular predictions are correct — the growth is only starting. However, in the vast sea of altcoins that hold the massive potential to go big in the future, we would like to set IOTA aside as one of the coins that might blow up quite soon.

As always, there are no guarantees of this, as the crypto space still lacks regulations, and remains highly volatile. To see proof of this, all you need to do is look at Bitcoin, which goes up by $1,000 within a day, only to slowly drop by $700 in the following week, and then repeat the process. In other words, there is still a lot of uncertainty regarding any project, and that includes IOTA.

However, even with all of that in mind, many are quite optimistic about this particular project, especially after a recent announcement. The announcement in question indicates that IOTA is about to see a massive upgrade. In most cases, this would be more than enough of a reason to expect the coin to start performing better. But, in IOTA’s case, this is nearly a guarantee that it will.

The update is believed to carry a lot of fixes for a lot of problems that traders and investors have been reporting for a while. No crypto is perfect, and since IOTA is…

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