Cardano (ADA) Price Analysis – March 14

  • The crypto's price reached a high of $0.048  and was resisted.
  • The crypto will fall to the low of $ 0.042 if price continues its fall below the EMAs,
  • If the bulls sustain the price above the EMAs and the crypto has more buyers at the upper price level; the crypto's price will revisit the highs of $0.048  and $ 0.050.

Cardano, ADAUSDCardano Chart By TradingView

ADAUSD Medium-term Trend: Bullish

  • Resistance levels: $0.080, $0.090, $0.100
  • Support levels: $0.040, $0.030, $0.020 

The ADAUSD pair was in a bullish trend. On March 9, the bulls broke the 12-day EMA and the 26-day EMA as the crypto's price reached the bullish trend zone. The crypto's price reached a high of $0.048 and was resisted. The crypto's price fell to the support of the 26-day EMA and at the price of $0.046.

The price of Cardano is above the EMAs which indicates that the price is likely to rise. On the upside, if the bulls sustain the price above the EMAs and the crypto has more buyers at the upper price level; the crypto's price will rise and revisit the highs of $0.048  and $0.050.

On the downside, if price continues its fall below the EMAs, the crypto will depreciate to the low of $ 0.042. Meanwhile, the stochastic is in 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: Bearish  

Cardano, ADAUSDCardano Chart By TradingView

On the 4-hour chart, the crypto's price is in a bearish trend. The crypto's price is testing the horizontal line which is equivalent to the $0.048 resistance level. The bears have broken below the 12-day EMA and the 26-day EMA which indicates that price is likely to fall.

On the downside, the bulls may likely defend the  $0.042 support level which the bears may find difficult to break. Meanwhile, the stochastic is in the oversold region but below the 20% range. This indicates that the price of Cardano is in a strong bearish momentum and a sell signal.                                                                                                                                                                                                                                                                                                                                                                                                                   

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Facebook’s Digital Wallet Subsidiary Calibra Rebrands to Novi

Facebook’s digital wallet subsidiary Calibra has rebranded to Novi, a name that was inspired on the Latin words “novus” and “via,” meaning new and way, respectively.

The rebrand came with a new design meant to represent the “fluid movement of digital currencies,” while maintaining the Libra icon on its logo. An announcement the firm published reads:

While we’ve changed our name from Calibra, we haven’t changed our long-term commitment to helping people around the world access affordable financial services.

The announcement details that users will be able to use the Novi wallet as a standalone app to send and receive Libra digital currencies, and that it will also be integrated into Facebook’s Messenger and WhatsApp applications.

Per the announcement the wallet will include “no hidden charges,” and transactions will be instant. To use Novi, customers will have to be verified using government-issued ID, and “fraud protections” will be built-in to prevent illicit uses.

It further added that Novi hopes to launch when the “Libra network is available.” An initial launch will only include a specific set of countries, and the firm will have a customer support team available 24/7 to help out its users.

In a FAQ section on Novi’s website,e the firm seems to imply there will be minimal to no transaction fees, as the answer starts with a “what you send is what they get,” before adding users won’t have to worry about hidden charges. It concludes Novi is “cutting fees to help people keep more of their money.”

On social media Kevin Weil,co-creator of Libra and Novi’s VP of Product explained the rebrand came as it could be confusing for people to have two different organizations, the Libra Association and Facebook’s Libra wallet subsidiary, with such similar names.

Featured image via Unsplash.