Cardano (ADA) Price Likely to Rise against Bitcoin, Crypto Analyst Says

News
Tue, 11/26/2019 - 14:51
Yuri Molchan
A crypto analyst believes that ADA is going to test a further resistance level, while Cardano’s founder says Cardano will be “a beast” in 2020
Cover image via www.123rf.com
Contents

Altcoins’ prices have been declining following the Bitcoin quotes’ fall. For a brief moment, Cardano went up to push out Tron from its spot 11 on CoinMarketCap. Later on, though, the coins returned to their previous positions.

At press-time, Cardano (ADA) is trading at $0.0.35, which is about 490 Satoshis.

Image via CoinMarketCap

A likely ADA growth

A crypto analyst @CryptoMichNL believes that ADA is likely to start growing and reach the 530-540 Satoshi level.

Should the coin’s price break below the 480 Satoshi level, it is likely to lose more value, he says.

‘Cardano will be a beast in 2020’

A while ago, the Cardano founder Charles Hoskinson posted a tweet saying that next year Cardano is going to bring to the market the newly developed protocols and blockchain solutions.

He stated:

“Cardano in 2020 will be a beast.”

Related
XRP May Hit $28 in Next Cycle, Analyst Claims, Despite Continuous XRP Dumps

Weiss Ratings says Cardano is ‘vastly superior to EOS’

Recently, U.Today reported that Weiss Ratings rated Cardano blockchain much higher than the EOS  ledger. Previously, in the summer this year, the agency downgraded EOS over centralization concerns.

Speaking of EOS, the platform has been having congestion problems since around November 1 due to the EIDOS dapp that has made transaction fees very high – of about 100 EOS required to be staked.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

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