How High Can the Price of Cardano (ADA) Go After Forthcoming IOHK Summit in Miami
Cardano is one of the most active blockchain projects in the crypto space. The digital currency has achieved quite a lot over the past month. However, the price of Cardano today doesn’t really reflex that. Notwithstanding, the Dev team and the CEO of Cardano have refused to be discouraged by the poor performance of Cardano price today. The CEO of Cardano (ADA) – Charles Hoskinson – who is also one of the co-founders of Ethereum, is doing all he can to maintain the relevance of the coin.
Will the Forthcoming IOHK Summit Have a Positive Impact on the Price of Cardano (ADA)?
Recently, Hoskinson disclosed some of the future plans of Cardano ahead of the firm’s IOHK Summit. The IOHK Summit is scheduled to take place on the 17th of this month in Miami. The CEO disclosed this during an interview BlockTV. During the interview, he revealed the target markets of Cardano and how the firm plans to enter them.
Hoskinson was in several interviews over the past week. In all the interviews, the CEO focused more on sharing more light on Cardano and the effort of the firm to revolutionize the market. In light of that, Hoskinson talked about the lingering issues in the digital currency space. He also acknowledged the fact that there is an ongoing governance crisis in the digital currency space.
During the interview, Hoskinson was asked when the crypto industry will attain perfect operability. Hoskinson said this is more difficult than it might seem. Operability is the ability to move value, state, and information from one ledger to another, says Hoskinson. He said that this might take between five to ten years.
Cardano (ADA) Price Analysis – Cardano Price Forecast 2019
From the medium-term outlook, Cardano’s price today is in a range-bound. The price of ADA recently formed a double bottom at $0.0801 in the demand zone. However, the bullish momentum after that formation sent the value of Cardano up to $0.0846 in the supply zone. The bullish pressure weakened earlier today at the $0.0848 level after the bears showed up. The bears took over the price of Cardano and Cardano price plunged toward the $0.080 level.
The price of Cardano against the USD is hovering around the $0.08610 level in the upper supply zone. Whereas, in the lower demand zone, the price of ADA/USD is hovering around the $0.0800 level.
Cardano’s short-term outlook appears to be bearish. The bears took charge of the market at yesterday’s closing session. The bears were able to push the value of the digital currency down to the $0.0818 level. The digital currency later gained little traction and surged towards the $0.082 level in the demand zone.
At the moment, Cardano price today is over the $0.082 level with immediate hurdle at the $0.0835 level. The $0.0800 level currently acts as a strong support level for the coin. However, it needs to remain over this level to amass more gains in the in short-term. Cardano price forecast 2019 is pretty bullish, but no one knows what the next couple of months holds for the coin.
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