ADA has been trading flat since yesterday. Since 20th January onward, the coin saw the currency flat at $0.361 and fell to $0.338. It steadily moved to $0.368 the next day and fell dramatically on 22nd January to $0.284. This was a massive fall of 7.18% from a steady level of 21st January. Ever since it has been trading sideways between $0.376 and $0.342 till yesterday. The prices fell on 26th January to the lowest of $0.326 and have today retracted to $0.346. During the last 24 hours the currency has fallen by 3.4%. While it did recover to about 15% till the early morning hours, the prices have been inconsistent and trading sideways at best. https://ift.tt/39mKaur Developments on Cardano In fresh developments on the supported Cardano blockchain, a new stablecoin by the name of AgeUSD is being launched as a partnership between Ergo Foundation, EMURGO, and IOHK (the originating organisation for Cardano). It will be a unique stablecoin not backed by fiat but by crypto-backed algorithmic stablecoin protocol. IOHK executives look to combine smart contract programming capabilities with Ergo’s ErgoScript, which will enhance the capability offerings. The Gougen Phase of Cardano looks to unlock the complete smart contract capability. Near Term Trades in ADA Being the sixth largest cryptocurrency, it has not really picked up in strength since last week in trades. The currency has fallen by 4.48% during the time of publishing on trading of 27th January and the bear’s trend looks like it will continue ahead. The parabolic SAR indicators show well above the price candles and the MACD line will also continue under the Signal line indicating bearish trend. Some indicators also show a consolidation stage but with symmetrical triangle forming an upswing might happen. If the new developments make an announcement that moves the market towards hope in ADA, the trends can be bucked for a reversal with the company focusing on emerging African countries contracts from Fortune 500 companies.
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