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Cardano price outlook: ADA bulls target breakout and retest of $1.50

ADA price might rally towards $2.00 if bulls clear overhead resistance at $1.50 Cardano’s…

The post Cardano price outlook: ADA bulls target breakout and retest of $1.50 appeared first on Coin Journal.

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ADA price might rally towards $2.00 if bulls clear overhead resistance at $1.50

Cardano’s price has broken higher since stemming a major downtrend at $0.92 on 21 April. The cryptocurrency ranked 6th by market cap has seen its value increase by about 13% this past week, with an intraday surge of 8% currently placing it around $1.38 as of writing.

The ADA market is likely to see increased buying amid resurgence within the altcoin market, which is led by Ethereum’s fresh assault of price levels above $2,700.

Cardano is ready to soar on the back of major news in the form of a record partnership with the Ethiopian government. According to IOHK Media, the project targets 5 million students in what is “the world’s largest blockchain deployment.”

The news is likely to add to the bullish momentum, fueling buy-side pressure.

Cardano price analysis

The ADA/USD pair is trading above a major horizontal resistance line at $1.35 as bulls seek a retest of the support line at $1.40. The upside has moved the price further off the bearish trend line that had capped movement near $1.20.

The pair is also showing positive signals as it trades above the 50 SMA and 20-day EMA on the 4-hour chart.

The breakout from the ascending triangle formation is likely to result in a retest of the 0.786 Fib level ($1.42). From here bulls can target the $1.50 supply zone, with the all-time high of $1.55 achievable if momentum helps buyers breach the barrier.

A clear breakout above the overhead resistance at $1.73 could see ADA/USD roll towards a new all-time high above $2.00.

ADA/USD 4-hour chart. Source: TradingView

On the flip side, short-term profit booking is likely to push ADA price to immediate support at $1.31 (0.618 Fib level). Multiple support levels at the 20-day EMA, ($1.28), 0.5 Fib level ($1.24), and the 50 SMA ($1.20) could help bulls in a swift rebound in case of further declines.

Cardano would however flip bearish if prices cross below $1.20 and the descending trend line, with support at $1.07. The key price level to watch in this case will be the psychological support at $1.00.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://coinjournal.net/news/cardano-price-outlook-ada-bulls-target-breakout-and-retest-of-1-50/

Blockchain

The Bank of England Is the “Victim” of Various Bitcoin-Related Slogans

Someone has a serious attitude against the Bank of England. Either that or they just hate banks in general and happen to live in England. Thus, they are taking their anger out on the nearest centralized financial institution. This week saw the Bank of England repeatedly hit with laser messages that bashed traditional monetary systems

The post The Bank of England Is the “Victim” of Various Bitcoin-Related Slogans appeared first on Live Bitcoin News.

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Someone has a serious attitude against the Bank of England. Either that or they just hate banks in general and happen to live in England. Thus, they are taking their anger out on the nearest centralized financial institution. This week saw the Bank of England repeatedly hit with laser messages that bashed traditional monetary systems while praising bitcoin.

The Bank of England Served as a BTC Billboard

Some of the messages read, “Fiat is the bubble, and bitcoin is the pin” and “Bitcoin fixes this,” implying that there are simply too many problems occurring in today’s monetary institutions and that bitcoin is the answer we have potentially been looking for. In addition to the Bank of England, messages were flashed across several other notable landmarks in the area such as the House of Parliament. Some of the other messages featured were, “Printing money is stealing from the poor” and “Money printer go brrrrr.”

As of late, there has been a great deal of hostility and anger towards how banks and political parties have been handling the coronavirus pandemic. While they may allegedly have their hearts in the right place by printing money constantly as a way of providing stimulus measures for suffering residents, many agree that the constant printing of fiat currency is only a short-term answer and could lead to even larger problems down the line.

For example, the constant printing of money could cause further inflation. In addition, the more stimulus measures are produced, the higher taxes go up in the future, which means many children – as they get older – will be stuck with the tax burdens these stimulus measures are likely to cause. While their parents are likely benefiting, it is their children that will wind up with the problem later, causing many people to ask the question, “Is this fair?”

Stimulus Measures Called Into Question

Furthermore, many of these stimulus measures are simply being produced on the front of trying to help residents who are suffering financially, though many of the stimulus bills passed in America, for example, are filled with superficial elements that serve no benefit to the country. Seriously… Why is the American Congress devoting tens of millions of dollars to gender studies in Pakistan? Especially when so many of the country’s businesses have shut down and people cannot pay their mortgages? Does this make any sense whatsoever?

The stimulus measures have been criticized by many leading financial experts including South African entrepreneur Elon Musk and billionaire investor Mike Novogratz, who says that Congress acts like money “grows on trees.” Either way, the person flashing the messages across the bank has yet to be identified, but it is clear they have great respect for bitcoin and seem to believe that the world’s number one digital currency by market cap can solve a lot more than even leading financial experts seem to give it credit for.

Tags: bank of england, bitcoin, stimulus Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.livebitcoinnews.com/the-bank-of-england-is-the-victim-of-various-bitcoin-related-slogans/

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XRP Price Analysis: 6 May

After facing tight resistance at $1.62, and following a re-test of the support of $1.41, XRP managed to breach above the aforementioned resistance at press time. With the asset moving back above $1.60

The post XRP Price Analysis: 6 May appeared first on AMBCrypto.

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After facing tight resistance at $1.62, and following a re-test of the support of $1.41, XRP managed to breach above the aforementioned resistance at press time. With the asset moving back above $1.60, the price movement indicated a bullish behavior but the overall market structure may indicate the contrary.

At press time, XRP exhibited a market cap of $77 billion and its 24-hour trading volume was $15.8 billion.

XRP 12-hour chart

XRP/USDT on Trading View

XRP’s 12-hour chart currently indicated its position above resistance at $1.62, suggesting the potential to re-test its 2021 high at $1.966. However, the price structure of XRP showed a rising wedge pattern. This increases the chances of a bearish breakout in the next few days, but considering bullish momentum remains rigid, the price could move toward its next target at $2.30.

However, the chances of another re-test at $1.41 is likely higher, with trading volumes decreasing over the past few days as well. SSL indicator remains bullish for XRP, indicative of a buy signal in the chart but probable corrections will lead to a change.

Market Rationals

XRP/USDT on Trading View

Clear-cut bullish indicators are currently minimal with MACD being only slightly bullish at the moment. Bulls do not have an upper hand at the moment but Relative Strength Index suggested continued buying pressure at press time. However, the buying pressure may decrease as Awesome Oscillator suggested a decrease in bullish momentum.

At the moment, the market remains more neutral even though the price is seemingly rising in the 12-hour time frame.

Bearish on the Gann-Fan?

XRP/USDT on Trading View

According to Gann-Fan indicator, XRP exited a hyper-bullish position back on 21 April itself when the price moved below the 1:1 ratio line. Currently oscillating above the 2:1 line, it suggests that buying pressure is slowly decreasing in comparison to selling pressure, which is on a rise. To maintain its bullish outlook, the price needs to top $1.97 in the next few days, but it is more likely to head towards support at $1.31.


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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/xrp-price-analysis-6-may

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Blockchain

Fantom Signs Up With Tajikistan Government To Build Their E-government Infrastructure

The Ministry of Industry of New Technologies of the Republic of Tajikistan signed an agreement with the Fantom Foundation on April 22, 2021 to use Fantom’s blockchain-based IT solutions to power its e-government infrastructure. From Implementing Fantom’s Customized CRM Solution Initially, Fantom will assess data flows and documentation in the Ministry to build a customized […]

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The Ministry of Industry of New Technologies of the Republic of Tajikistan signed an agreement with the Fantom Foundation on April 22, 2021 to use Fantom’s blockchain-based IT solutions to power its e-government infrastructure.

From Implementing Fantom’s Customized CRM Solution

Initially, Fantom will assess data flows and documentation in the Ministry to build a customized CRM/MIS system that will streamline business processes and increase productivity. As the Ministry tests Fantom’s solution, the two parties will look to establish a Research and Development Hub to train local developers in blockchain-based systems.

Building a Blockchain-Based, Competitive Economy

Since assuming power in 1994, Tajikistan President Emomali Rahmon has worked to reconstruct and modernize the nation. Keen to tap the potential of new technologies to spur economic growth and raise living standards, he has prioritized the digitalization of the country’s information infrastructure.

In 2019, for example, he oversaw significant legislation calling for increased broadband access, the expansion of technology training programs, and the creation of agencies to manage the adoption of digital technologies.

In this context, Fantom and the Tajik Ministry set as their long-term goal a durable public-private partnership in which the R&D hub will expand to serve as a launchpad for the nationwide implementation of blockchain-based data-sharing, transparency, and automation solutions. The Fantom team will also explore how Central Bank Digital Currencies (CBDC) can revolutionize payments systems and kick-start the digital economy in Tajikistan.

Over the last eight months, Fantom team members Barek Sekandari, Samuel Harcourt, Jakub Stephanik, and Jawid Sikandar have played vital roles brokering deals in Central-Asia and South-Asia.

Commenting on Fantom’s growing presence in the area, Fantom Director of South Asia Jawid Sikandar stated: “Following our success in Afghanistan and Pakistan, the agreement to begin work in Tajikistan truly underscores the ways Fantom’s solutions respond to the pressing needs of growing economies. It is tremendously gratifying to know that we can play a part in helping these countries reach their development milestones.” 

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://bitcoinist.com/fantom-signs-up-with-tajikistan-government-to-build-their-e-government-infrastructure/?utm_source=rss&utm_medium=rss&utm_campaign=fantom-signs-up-with-tajikistan-government-to-build-their-e-government-infrastructure

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Why DogeCoin Flipping XRP Is Extremely Alarming

Why DogeCoin Flipping XRP Is Extremely Alarming

When DOGE bulls put on their seat belts and drove bullishly to new levels, XRP had to give way for the meme coin to take the 4th position. At the time of this report, Dogecoin is valued at a market price of $0.58, having gained by 95% in 7 days. Dogecoin is still very much […]

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Why DogeCoin Flipping XRP Is Extremely Alarming

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When DOGE bulls put on their seat belts and drove bullishly to new levels, XRP had to give way for the meme coin to take the 4th position. At the time of this report, Dogecoin is valued at a market price of $0.58, having gained by 95% in 7 days.

Dogecoin is still very much in the green zone, but only a while back, the market was way more heated. DOGE rose over 37% in the last 48hrs, bringing a weekly price increase to 147%.

Why DogeCoin Flipping XRP Is Extremely Alarming
DOGEUSD Chart By TradingView

This makes Dogecoin one of the highest gainers within the last fourteen days. For the first time ever, the crypto asset hit $0.69, before declining slightly to $0.67. DOGE’s market cap also hit $87 billion, making it larger than FedEx and many other stocks.

DOGE overtaking XRP is a huge deal

Dogecoin overtaking XRP is quite alarming to analysts whose sentiments are equally mixed. The meme coin has been one of this year’s best performers. With this speed, DOGE could very easily hit $1 this year; a price mark that the community has been anticipating since last year.

For some Bitcoiners, DOGE overthrowing XRP is a sign that the altcoin season has reached its peak and that Bitcoin could retrace its step back to the limelight.

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Meanwhile, the CEO of Binance has been quite bullish on Doge. He took to Twitter recently to say he underestimated DOGE.

Edward Moya, a senior market analyst at Oanda is suspecting that institutional players are to be credited in part for the asset’s upsurge.

“The Dogecoin bubble should have popped by now, but institutional interest is trying to take advantage of this momentum and that could support another push higher,” Edward noted.

As we predicted in our last report, Moya opines that it is likely that the asset will jump, following Elon Musk’s SNL price performance and market players are hoping to tap from this price pump. 

“Dogecoin is surging because many cryptocurrency traders do not want to miss out on any buzz that stems from Elon Musk’s hosting of Saturday Night Live.” he added.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://zycrypto.com/why-dogecoin-flipping-xrp-is-extremely-alarming/

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