Cardano: These Factors Have A Negative Impact On ADA Price<\/title>\n<meta name=\"description\" content=\"Cardano is said to be designed in such a way that it performs better than Ethereum when it comes to running smart contracts. Cardano has now lost 86.2% of\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/cardano-these-factors-have-a-negative-impact-on-ada\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cardano: These Factors Have A Negative Impact On ADA Price\" \/>\n<meta property=\"og:description\" content=\"Cardano is said to be designed in such a way that it performs better than Ethereum when it comes to running smart contracts. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. 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{"id":504785,"date":"2022-10-04T10:42:30","date_gmt":"2022-10-04T10:42:30","guid":{"rendered":"https:\/\/wncen.com\/?p=504785"},"modified":"2022-10-04T10:42:30","modified_gmt":"2022-10-04T10:42:30","slug":"cardano-these-factors-have-a-negative-impact-on-ada","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/cardano-these-factors-have-a-negative-impact-on-ada\/","title":{"rendered":"Cardano: These Factors Have A Negative Impact On ADA Price"},"content":{"rendered":"

Cardano is said to be designed in such a way that it performs better than Ethereum when it comes to running smart contracts.<\/span><\/em><\/p>\n

\n
Cardano has now lost 86.2% of its $3.09 all-time high<\/span><\/li>\n
ADA still remains as the 8<\/span>th<\/span> largest crypto by market capitalization<\/span><\/li>\n
$1 trading price remains a big challenge for Cardano<\/span><\/li>\n<\/ul>\n
After all, Charles Hoskinson, the founder of the ADA network, was one of the developers of the network of what is widely recognized as the \u201cking of all altcoins.\u201d<\/span><\/p>\n
Hoskinson made sure the work he has done with Cardano was better, enhancing its smart contract performance.<\/span><\/p>\n
But even that improvement seems to fall short in helping the digital currency grow, as its price continues to hover around low levels.<\/span><\/p>\n
A look at data from Coingecko reveals ADA changing hands at $0.42<\/a>, being down by 4.3% for the past week.<\/span><\/p>\n
Despite that, it still belongs to the top 10 cryptocurrencies in terms of market capitalization, ranking 8<\/span>th<\/span> with its value of over $14.4 billion.<\/span><\/p>\n
Related Reading: Chainlink Crosses $6.18 Trillion In Transaction Value \u2013 Will This Boost LINK Price?<\/a><\/div>\n
Cardano In Recurring Price Pattern<\/b><\/h2>\n
The ADA\/USDT technical chart provides better insight about the price movement of Cardano, which appears to be in a recurring pattern.<\/span><\/p>\n
$\"\"$ \r\nSource: TradingView<\/span><\/pre>\n
There is a descending triangle pattern in the daily time frame for the asset in which its price has resonating response for the past four months.<\/span><\/p>\n
The $0.417 support level, which was already tested three times, appears to be crucial point for ADA for its failure will mean a steep fall for the asset\u2019s trading price.<\/span><\/p>\n
Within the observed triangle, there is an additional pattern to which Cardano price responds to \u2013 a descending wedge pattern. This seems to be the reason why the crypto is currently at the $0.42 mark.<\/span><\/p>\n
This wedge pattern could encourage a mini-bullish momentum for ADA as it might trigger a 9% increase in value for the altcoin.<\/span><\/p>\n
Looking Ahead At Cardano Price<\/b><\/h2>\n
A break below the extended support level of $0.418 is likely to create a downward pressure for Cardano, putting it to a significantly lower support of $0.3675.<\/span><\/p>\n
However, in the event that the opposite happens, ADA might climb to a trading price of $0.4850 and if its demand increases, this level will be surpassed and the asset\u2019s price will shoot all the way up to $0.5835.<\/span><\/p>\n
At this point in time, the biggest challenge for Cardano is to hit the $1 mark, which is actually lower than its recorded all-time high of $3.09 which was attained on September 2 last year.<\/span><\/p>\n
Related Reading: Elrond Coin Price Seen Climbing Nearly 20% In Next Few Weeks \u2013 Here\u2019s Why<\/a><\/div>\n
<\/p>\n
ADA total market cap at $14.8 billion on the daily chart | Source: TradingView.com<\/a>\r\n\r\nFeatured image from Zipmex, Chart: TradingView.com<\/a><\/pre>\n","protected":false},"excerpt":{"rendered":"
Cardano is said to be designed in such a way that it performs better than Ethereum when it comes to running smart contracts. Cardano has now lost 86.2% of its $3.09 all-time high ADA still remains as the 8th largest crypto by market capitalization $1 trading price remains a big challenge for Cardano After all, Charles Hoskinson, the founder of the ADA network, was one of the developers of the network of what is widely recognized as the \u201cking of all altcoins.\u201d Hoskinson made sure the work he has done with Cardano was better, enhancing its smart contract performance. But even that improvement seems to fall short in helping the digital currency grow, as its price continues to hover around low levels. A look at data from Coingecko reveals ADA changing hands at $0.42, being down by 4.3% for the past week. Despite that, it still belongs to the top 10 cryptocurrencies in terms of market capitalization, ranking 8th with its value of over $14.4 billion. Related Reading: Chainlink Crosses $6.18 Trillion In Transaction Value \u2013 Will This Boost LINK Price? Cardano In Recurring Price Pattern The ADA\/USDT technical chart provides better insight about the price movement of Cardano, which appears to be in a recurring pattern. Source: TradingView There is a descending triangle pattern in the daily time frame for the asset in which its price has resonating response for the past four months. The $0.417 support level, which was already tested three times, appears to be crucial point for ADA for its failure will mean a steep fall for the asset\u2019s trading price. Within the observed triangle, there is an additional pattern to which Cardano price responds to \u2013 a descending wedge pattern. This seems to be the reason why the crypto is currently at the $0.42 mark. This wedge pattern could encourage a mini-bullish momentum for ADA as it might trigger a 9% increase in value for the altcoin. Looking Ahead At Cardano Price A break below the extended support level of $0.418 is likely to create a downward pressure for Cardano, putting it to a significantly lower support of $0.3675. However, in the event that the opposite happens, ADA might climb to a trading price of $0.4850 and if its demand increases, this level will be surpassed and the asset\u2019s price will shoot all the way up to $0.5835. At this point in time, the biggest challenge for Cardano is to hit the $1 mark, which is actually lower than its recorded all-time high of $3.09 which was attained on September 2 last year. Related Reading: Elrond Coin Price Seen Climbing Nearly 20% In Next Few Weeks \u2013 Here\u2019s Why ADA total market cap at $14.8 billion on the daily chart | Source: TradingView.com Featured image from Zipmex, Chart: TradingView.com<\/p>\n","protected":false},"author":557,"featured_media":504794,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[12333,428,1119,1144,12332,6664,8686],"class_list":["post-504785","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ada","tag-bitcoin","tag-btc","tag-btcusd","tag-cardano","tag-crypto","tag-ethusd"],"acf":[],"yoast_head":"\nCardano: These Factors Have A Negative Impact On ADA Price<\/title>\n<meta name=\"description\" content=\"Cardano is said to be designed in such a way that it performs better than Ethereum when it comes to running smart contracts. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Cardano: These Factors Have A Negative Impact On ADA Price","url":"http:\/\/wncen.com\/news\/cardano-these-factors-have-a-negative-impact-on-ada\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/cardano-these-factors-have-a-negative-impact-on-ada\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/ada.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/ada.png?fit=1035%2C615"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ada","bitcoin","btc","btcusd","cardano","crypto","ethusd"],"dateCreated":"2022-10-04T10:42:30Z","datePublished":"2022-10-04T10:42:30Z","dateModified":"2022-10-04T10:42:30Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Cardano: These Factors Have A Negative Impact On ADA Price\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/cardano-these-factors-have-a-negative-impact-on-ada\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/cardano-these-factors-have-a-negative-impact-on-ada\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/ada.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/ada.png?fit=1035%2C615\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ada\",\"bitcoin\",\"btc\",\"btcusd\",\"cardano\",\"crypto\",\"ethusd\"],\"dateCreated\":\"2022-10-04T10:42:30Z\",\"datePublished\":\"2022-10-04T10:42:30Z\",\"dateModified\":\"2022-10-04T10:42:30Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/ada.png?fit=1035%2C615","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/504785"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=504785"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/504785\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/504794"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=504785"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=504785"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=504785"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}