Cardano (ADA) Price Analysis – February 14

  •  The price of Cardano faces resistance at the $0.04200 price level since February 8.
  •  The crypto's price is likely to reach a previous high of $0.04600 if the price is sustained above the EMAs.

Cardano, ADAUSDCardano Chart By Trading View

ADAUSD Medium-term Trend: Bearish

  • Resistance levels: $0.080, $0.090, $0.100
  • Support levels: $0.030, $0.020, $0.010

Last week, on February 8, the price of Cardano was in a bullish trend zone. The bulls broke the 12-day EMA, the 26-day EMA, and the bearish trend line. The cryptocurrency rose to the high of $0.04200 but the price made a pullback to the low of $0.04000. The pullback was on the 12-day EMA and the 26-day EMA indicating that the price is in the bullish trend zone.

The $0.04200 price level had been a resistance to the price of Cardano since February 8. On the upside, the crypto’s price is likely to rise at the support level of $0.04000, if the price is sustained above the EMAs and the bulls break the resistance at $0.04200. Then the crypto’s price will reach the previous high of $0.0460.

On the downside, if the bears break below the EMAs or the $0.04000 price level, the crypto will fall to either the lows of $0.03800 or $0.03600. The stochastic indicator is out of the overbought region but below the 80% range. This indicates that the price of Cardano is in a bearish momentum and a sell signal.

ADAUSD Short-term Trend: Ranging

Cardano, ADAUSDCardano Chart By Trading View

On the 4-hour chart, the crypto's price is in a bearish trend. The bears break the EMAs to the low of $0.04000. The crypto’s price has been ranging at the $0.04000 price level in the last 48 hours. If the bulls defend this level, the crypto’s price is likely to rise. On the other hand, if the bears break the $0.04000 price level, the crypto’s price will depreciate further.

Meanwhile, the stochastic is out of the overbought region but below the 40% range. This indicates that the price of Cardano is in a bearish momentum and a sell signal.

 

 

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.

Hacked Exchange Cryptopia Enables Trading in 40 Different Currency Pairs

New Zealand-based digital asset exchange, Cryptopia has reportedly resumed trading on its exchange as it is now allowing 40 different trading pairs. This, after Cryptopia recently experienced from several different security breaches.

Support For Bitcoin, Litecoin, Dogecoin Pairs Added

Cryptopia’s management announced (via Twitter on March 18th) that it is planning to expand its list of coins which will again be supported on its trading platform. As noted on Cryptopia’s official support website, the exchange has enabled several different trading pairs (as of March 19th, 2019) with major cryptocurrencies. These include bitcoin (BTC), litecoin (LTC), and dogecoin (DOGE).

In response to Cryptopia’s announcement, Twitter user @dgb-chilling, a supporter of DigiByte (DGB), a cryptocurrency that uses five different mining algorithms, said that he had emailed the exchange’s support team to inform them regarding the coin’s latest update (version 6.17.2). He added that “an upgrade was recommended but not mandatory.”

Meanwhile, Chuck Norris (@CryptoTweet6) remarked: 

Now this is good news! Let’s hope the rest of the coins will be released for trading swiftly.

Other users also considered it “good news” that the compromised cryptoasset exchange was gradually resuming its operations. However, one social media user asked when Cryptopia would start enabling deposits while another inquired about why his ARK coins were still not recoverable from the trading platform. He claimed that he had deposited 1,000 ARK, currently valued at around $628, (a popular proof-of-stake based coin) on Cryptopia. The user also complained that his coins were missing “missing because [the exchange] did not update the ARK wallet."

Tens Of Millions Of Dollars Stolen In Hack

On February 27th, 2019, Cryptopia’s management announced that it was “assessing the impact incurred as a result of the hack” which led to the theft of tens of millions of dollars in cryptocurrency. Last month, Cryptopia’s support team had also estimated that the total loss incurred due to the security breaches was of around 10% of its total holdings (in the worst-case scenario).

Notably, the exchange’s official Twitter account had been silent for several weeks (since Feburary 14th). However, it released several announcements, starting in late February, in which it revealed that its staff members were working on securing each customer’s account individually. Cryptopia’s management also noted that it was taking the appropriate measures to ensure that its trading platform is secure when it is officially back online.