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

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Cardano ADA

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

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3 Reasons Why WISE Token Could Be a Massive Winner in 2021

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WISE token

After working in proprietary trading for over a decade, I decided to transition to crypto in early 2017.  Although crypto is significantly different from traditional capital markets, I managed to successfully find a niche for successful and opportunistic trading.  While 2017 was the perfect time to get involved, the past few years have proven to be a bit more challenging as far as generating ROI.

Cryptocurrency traders have spent the past several years searching far and wide for the next big winner.  While the market as a whole hasn’t been very bull friendly, one specific area that appears to be gaining traction is decentralized finance, more commonly known as DeFi.  This area generally refers to the digital assets and financial smart contracts, protocols, and decentralized applications (DApps) built on Ethereum.  The reason why so many crypto entrepreneurs are flocking to this space is that it allows them to create traditional financial vehicles in a decentralized network, outside the meddlesome control of foreign governments.

One extremely popular DeFi project is Chainlink (LINK) which is a decentralized oracle network that provides real-world data to smart contracts on the blockchain.  Chainlink has seen its token price increase by more than 300% year-to-date.    Another impressive project in the space is Kyber Network (KNC) which has seen its token soar from $0.20 at the start of the year to more than $1.60 at present.  Kyber Network’s on-chain liquidity protocol allows decentralized tokens swaps to be…

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Lotto Nation is Revolutionizing the Traditional Lottery Industry

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Lotto Nation

As the global economy continues to deal with the economic fallout due to the ongoing pandemic, companies are coming to terms with the fact that normalcy may not return for quite a while.  Many economists are wondering how the business landscape will look a year or more from now.  It’s certainly possible that many businesses, such as retailers and restaurants, may be unable to survive the current downturn.  But while some businesses will falter, others will emerge stronger than ever.

Traditionally, when economies go through a severe downturn, companies adapt.  Those that maintain the status quo usually have great difficulty while those that adapt prosper and conquer.  One possible example of this is Lotto Nation.  Thanks to the entrepreneurial skills of Nils Thomson, the Founder and CEO of Lotto Nation, the company is attempting to completely modernize the traditional lottery industry.

Current Lottery Model is Severely Outdated

It’s safe to say that nearly every human that has ever walked the earth has fantasized about winning the massive jackpot that would completely change their life.  These dreams have turned the global lottery industry into a $302 billion market that is expected to reach $380 billion by 2025.  Despite this predicted growth, the industry suffers from a variety of problems that are preventing it from really exploding.

Perhaps the biggest problem is that traditional lotteries are centralized.  Because of this, there is essentially no oversight on what a lottery provider…

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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

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