Service for copy trading. Our Algo automatically opens and closes trades.
The L2T Algo provides highly profitable signals with minimal risk.
24/7 cryptocurrency trading. While you sleep, we trade.
10 minute setup with substantial advantages. The manual is provided with the purchase.
79% Success rate. Our outcomes will excite you.
Up to 70 trades per month. There are more than 5 pairs available.
Monthly subscriptions begin at £58.
Cardano (ADA) is in recovery mode on Monday following a steep decline from the $1.5000 axis on Sunday. The fifth-largest cryptocurrency now enjoys a bullish bias, as the broader cryptocurrency sentiment remains bullish.
The bullish momentum surrounding Cardano also comes from the highly-anticipated Alonzo upgrade, which should go live in a few weeks. Last week, IOHK revealed that the Alonzo (Purple) hard fork had gone live and operationalized its testnet. The holding company also provided a timeline for the HFC (hard fork combinator), noting that the network could witness the crucial Smart Contract capability rollout.
Cardano should possess the necessary tools to become a tough competitor with Ethereum in the DeFi sector with the upcoming upgrade. The blockchain’s Co-founder, Charles Hoskinson, asserted that once the HFC takes place, developers can facilitate Smart Contract on the network using Plutus code.
Many analysts are optimistic about the upcoming upgrade. The Head of Coin Bureau, who goes under the pseudonym ‘Guy,’ noted that he expects ADA to get as high as $4 -$5 by the end of this year. However, Guy cautioned that the proposed uptrend largely depends on a healthy bullish movement in the industry’s leader, Bitcoin.
Key Cardano Levels to Watch — August 9
Following a peak near the $1.5000 resistance over the weekend, ADA suffered a minor correction to the $1.4000 level. However, bulls appear to have regained control and have driven the price above the $1.4580 area.
That said, we expect a retake of the critical $1.5000 level over the coming hours, as the broader market sentiment remains dominantly bullish. Failure to clear the $1.5000 level could trigger a consolidation between $1.5000 and $1.4000 (where our ascending trendline intersects with the $1.4000 support and the 50 SMA).
Meanwhile, our resistance levels are $1.500, $1.5500, and $1.6000, and our support levels are $1.4500, $1.4000, and $1.3500.
Total Market Capitalization: $1.82 trillion
Cardano Market Capitalization: $46.7 billion
Cardano Dominance: 2.56%
Market Rank: #5
- Min Deposit
- Visit Broker
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- The Lowest Trading Costs
- 50% Welcome Bonus
- Award-winning 24 Hour Support
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus