The price of Cardano saw massive gains in the last hour, with the price pumping by approximately 15% in the last 17 hours. ADA pumped after Cardano Foundation announced the release of Cardano 1.5.
Cardano 1.5 has been released to the mainnet today! Daedalus users need to upgrade to Cardano 1.5 by installing Daedalus 0.13.0 by following prompts in Daedalus. For more information, check out the announcement here: https://t.co/Zfxcz2GjRJ
— Cardano Foundation (@CardanoStiftung) March 20, 2019
A Twitter user @AlexHPutra tweeted the upcoming updates for Cardano,
“Cardano as the 3rd generation blockchain, is moving toward the most anticipated Shelley phase (Decentralization & Staking).
1. Shelley on Testnet (31 March or earlier).
2. IOHK Summit in Miami – New Cardano Roadmap (17-18 April)
3. Shelley on Mainnet (20 April or earlier).”
At press time, the price of ADA was $0.0570, while the market cap for the coin stood at $1.46 billion. Cardano was the eleventh largest cryptocurrency in terms of market cap. The 24-hour trading volume of Cardano was hanging at $102 million, while most of the volume was contributed by ZBG exchange via the ADA/USDT pair.
The one-hour chart for Cardano showed an uptrend that extended from $0.040 to $0.054. The price bounced off the support at $0.050, and breached the resistance at $0.054. The coin was soaring higher, at press time.
The Parabolic SAR markers spawned below the price candles on 22 March, 2019, at 02:00 UTC, indicating a reversal of the prices to the upside.
The MACD indicator showed a bullish crossover of the MACD and the signal line. The histogram showed green bars forming above the zero-line.
The Awesome Oscillator showed green spikes above the zero-line, indicating rising upward momentum.
The one-day chart showed a strong downtrend for ADA that extended from $0.1072 to $0.057, with an uptrend yet to be formed. The price breached its immediate resistance at $0.05708, after the pump.
The Bollinger Bands showed an expansion as the bands diverged from each other. The prices were above the SMA, indicating a bullish presence for ADA.
The Stochastic indicator showed that it had hit an oversold zone as the signal line and the Stochastic line were in a bullish crossover.
The Chaikin Money Flow indicator showed a large influx of money into the ADA market, as the CMF over +0.2.
Both the one-hour and one-day chart pictured bullish momentum for ADA, a projection evidenced by indicators such as the SAR, MACD, AO, Bollinger Bands, Stochastic, and Chaikin Money Flow.
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