Cardano Price Watch: ADA Flimsy at 9.5 Cents Despite Shelly Testnet Launching
Today’s Cardano (ADA) News
Notwithstanding their slow, peer-reviewing, Cardano creator are aiming at big things. Outright in their plans, their developers and its leader, Charles Hoskinson, are zealous. Their objective is to see the project’s vision mission statement achieved.
From recent developments, they seem to be on the right path. Launching on June 21, the Shelly Testnet marks the beginning of Cardano’s decentralization. While its success will determine the exact date of Shelly launch, Cardano is welcoming constructive criticism.
As it is, the Testnet staking experimentation will be done in three definitive stages. The first stage allows users to experiment on the creation, and therefore hosting, of Rust Self Nodes while establishing basic configuration for staking pools. From there, there second stage is when these Self Nodes, ideally distributed across the world will be joined together in one network. Thereafter, there will be delegation and incentives initiation in the third and final phase.
It is worth noting that the completion and the eventual activation of Shelly marks the beginning of a new era for Cardano. Charting through to 2022, the new Cardano roadmap will be a guidance.
Through to Voltaire, everything will be critiqued. For that precise reason, Charles is in Israel, engaging with Israeli developers know for their “positive criticism” and their technical adeptness. If everything is as per plan, Shelly could launch next year. In an interview with Finance Magnates, he said:
“It’ll be this year. But exactly when is hard to say. Delays happen. Unexpected things happen. There may be some things we can accelerate but creating software is hard. I also think the community has been exceedingly unfair with their criticism of our deadlines, our dates and our time frames.”
TRON (TRX) Live Price Analysis
1 TRX/USD =$0.0552 change ~ -1.73%
Presently, ADA prices are all over the place. Haphazard as they are, there is still room for investors to take advantage of the apparent undervaluation. Changing hands at 9.5 cents and up a paltry 7.3 percent in the last week, ADA lags other high performing digital assets including TRX and ETH with better ROI in the same time frame.
All the same, with the path of least resistance defined, this accumulation along 9.5 cents is at the back of high trading volumes as witnessed by yesterday’s doji candlestick.
With a spike in participation at 603 million, it is imperative that there is a strong follow though confirming the bullish breakout of late March 2019. Once there is a firm close above 9.5 cents, odds are prices will rally past 12 cents towards 20 cents. Both of these bull targets are important reaction points and any break above signals the entry of determined buyers.
On the flip side, if ADA prices tumble below the support trend line of the last month, bears could see ADA retest 6 cents.
Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.