{"id":547129,"date":"2023-08-14T09:20:09","date_gmt":"2023-08-14T09:20:09","guid":{"rendered":"https:\/\/uniquehot.com\/?p=547129"},"modified":"2024-06-11T08:58:19","modified_gmt":"2024-06-11T08:58:19","slug":"cardano-nears-the-0-3-resistance","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/cardano-nears-the-0-3-resistance\/","title":{"rendered":"Cardano (ADA) Approaches The $0.3 Resistance: What Lies Ahead?"},"content":{"rendered":"<p><span style=\"font-weight: 400\">The journey of Cardano (ADA) toward reclaiming the $0.3 price level seems to be growing more challenging in the days ahead, as the cryptocurrency grapples with persistent bearish pressure. <\/span><\/p>\n<p><span style=\"font-weight: 400\">After successfully managing to hold the line at $0.3 during the latter part of July, the digital asset encountered a setback in early August when this crucial support level split, potentially paving the way for further price declines.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The $0.3 mark not only signifies a March low but also acted as a pivotal resistance point during the months of June and July. This level demonstrated its resilience by transforming into a support level in late July and early August. <\/span><span style=\"font-weight: 400\">Nevertheless, the breach experienced in early August did not immediately send ADA into a downward spiral.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/all\/shiba-inu-steals-the-spotlight-leaving-bitcoin-behind-in-a-week-of-price-surges\/\" target=\"_blank\" rel=\"noopener \">Shiba Inu Steals The Spotlight, Leaving Bitcoin Behind In A Week Of Price Surges<\/a><\/div>\n<p><span style=\"font-weight: 400\">However, recent <\/span><a href=\"https:\/\/ambcrypto.com\/what-to-expect-as-ada-retests-0-3-as-resistance\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">price analysis<\/span><\/a><span style=\"font-weight: 400\"> reveals a concerning development: a retest of this level followed by a price rejection has formed a bearish order block (OB) on the daily chart.<\/span><\/p>\n<h2><strong>Founder&#8217;s Jab At Ethereum Adds Intrigue Amidst ADA Struggles<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">Meanwhile, Charles Hoskinson, the visionary founder of Cardano, has <\/span><a href=\"https:\/\/twitter.com\/IOHK_Charles\/status\/89598976\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">thrown shade at Ethereum<\/span><\/a><span style=\"font-weight: 400\">, a primary rival in the cryptocurrency landscape.<\/span><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">I remember when we were brutally mocked by the ETH Devs about the design of Ouroboros. Goodtimes<\/p>\n<p>\u2014 Charles Hoskinson (@IOHK_Charles) <a href=\"https:\/\/twitter.com\/IOHK_Charles\/status\/89598976?ref_src=twsrc%5Etfw\" rel=\"nofollow\">August 12, 2023<\/a><\/p><\/blockquote>\n<p><span style=\"font-weight: 400\">Hoskinson&#8217;s remarks were sparked by a video clip in which Ethereum developer Justin Drake commented on staking, likening it to sausage-making and suggesting that understanding the intricate process could lead to disillusionment.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Hoskinson&#8217;s use of the colloquialism underscores his perspective on Ethereum&#8217;s staking mechanism. Some interpreted his comment as a candid critique of the opacity surrounding Ethereum&#8217;s staking process, hinting at potential undesirable aspects hidden beneath the surface.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Ethereum&#8217;s own founder, Vitalik Buterin, has previously expressed reservations about staking Ether due to security and operational complexities, providing a backdrop to Hoskinson&#8217;s dig.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full\" src=\"https:\/\/www.tradingview.com\/x\/TWrb63bv\/\" width=\"1835\" height=\"893\"><\/p>\n<pre style=\"text-align: center\">ADA market cap currently at $10.19 billion. Chart: <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/pre>\n<h2><strong>Cardano Market Performance<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">At present, ADA is trading at approximately $0.290, according to <\/span><a href=\"https:\/\/www.coingecko.com\/en\/coins\/cardano\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">CoinGecko data<\/span><\/a><span style=\"font-weight: 400\">. Over the last 24 hours, the cryptocurrency has remained flat, while its value has decreased by a measly 0.5% over the past seven days.\u00a0<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-547141\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/a-74.png?resize=1000%2C66\" alt=\"\" width=\"1000\" height=\"66\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/a-74.png?w=1000 1000w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/a-74.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/a-74.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/a-74.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/a-74.png?w=750 750w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><\/p>\n<pre style=\"text-align: center\">Cardano price action today. Source: <a href=\"https:\/\/www.coingecko.com\/\" target=\"_blank\" rel=\"noopener nofollow\">Coingecko<\/a><\/pre>\n<p><span style=\"font-weight: 400\">As the broader cryptocurrency market continues to navigate through volatility, Cardano&#8217;s ability to regain its foothold at the $0.3 level remains a pivotal factor in determining its short-term trajectory.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/all\/toncoin-explodes-with-15-rally\/\" target=\"_blank\" rel=\"noopener \">Toncoin (TON) Throws Weight Around To Lead Weekend Top 20 With 22% Rally<\/a><\/div>\n<p><span style=\"font-weight: 400\">Cardano&#8217;s struggle to recapture this price level amidst ongoing bearish pressure is a matter of growing concern. The recent breach of this crucial support level, coupled with a bearish order block formation, underscores the challenges ahead. <\/span><\/p>\n<p><span style=\"font-weight: 400\">In addition, Hoskinson&#8217;s subtle critique of Ethereum&#8217;s staking process adds an intriguing layer to ADA&#8217;s narrative, as the cryptocurrency community keenly watches its path forward in a dynamic and evolving landscape.<\/span><\/p>\n<p><em>(This site&#8217;s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n<p><em><span style=\"font-weight: 400\">Featured image from Analytics Insight\u00a0<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The journey of Cardano (ADA) toward reclaiming the $0.3 price level seems to be growing more challenging in the days ahead, as the cryptocurrency grapples with persistent bearish pressure. After successfully managing to hold the line at $0.3 during the latter part of July, the digital asset encountered a setback in early August when this crucial support level split, potentially paving the way for further price declines. The $0.3 mark not only signifies a March low but also acted as a pivotal resistance point during the months of June and July. This level demonstrated its resilience by transforming into a support level in late July and early August. Nevertheless, the breach experienced in early August did not immediately send ADA into a downward spiral.\u00a0 Related Reading: Shiba Inu Steals The Spotlight, Leaving Bitcoin Behind In A Week Of Price Surges However, recent price analysis reveals a concerning development: a retest of this level followed by a price rejection has formed a bearish order block (OB) on the daily chart. Founder&#8217;s Jab At Ethereum Adds Intrigue Amidst ADA Struggles Meanwhile, Charles Hoskinson, the visionary founder of Cardano, has thrown shade at Ethereum, a primary rival in the cryptocurrency landscape. I remember when we were brutally mocked by the ETH Devs about the design of Ouroboros. Goodtimes \u2014 Charles Hoskinson (@IOHK_Charles) August 12, 2023 Hoskinson&#8217;s remarks were sparked by a video clip in which Ethereum developer Justin Drake commented on staking, likening it to sausage-making and suggesting that understanding the intricate process could lead to disillusionment. Hoskinson&#8217;s use of the colloquialism underscores his perspective on Ethereum&#8217;s staking mechanism. Some interpreted his comment as a candid critique of the opacity surrounding Ethereum&#8217;s staking process, hinting at potential undesirable aspects hidden beneath the surface. Ethereum&#8217;s own founder, Vitalik Buterin, has previously expressed reservations about staking Ether due to security and operational complexities, providing a backdrop to Hoskinson&#8217;s dig. ADA market cap currently at $10.19 billion. Chart: TradingView.com Cardano Market Performance At present, ADA is trading at approximately $0.290, according to CoinGecko data. Over the last 24 hours, the cryptocurrency has remained flat, while its value has decreased by a measly 0.5% over the past seven days.\u00a0 Cardano price action today. Source: Coingecko As the broader cryptocurrency market continues to navigate through volatility, Cardano&#8217;s ability to regain its foothold at the $0.3 level remains a pivotal factor in determining its short-term trajectory. Related Reading: Toncoin (TON) Throws Weight Around To Lead Weekend Top 20 With 22% Rally Cardano&#8217;s struggle to recapture this price level amidst ongoing bearish pressure is a matter of growing concern. The recent breach of this crucial support level, coupled with a bearish order block formation, underscores the challenges ahead. In addition, Hoskinson&#8217;s subtle critique of Ethereum&#8217;s staking process adds an intriguing layer to ADA&#8217;s narrative, as the cryptocurrency community keenly watches its path forward in a dynamic and evolving landscape. (This site&#8217;s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Analytics Insight\u00a0<\/p>\n","protected":false},"author":557,"featured_media":547131,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1,3],"tags":[84005,142,1144,12332,1286,8686,4735],"class_list":["post-547129","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all","category-news","tag-ada-price","tag-altcoins","tag-btcusd","tag-cardano","tag-charles-hoskinson","tag-ethusd","tag-price-action"],"acf":[],"yoast_head":"\n<title>Cardano (ADA) Nears The $0.3 Resistance: What Lies Ahead?<\/title>\n<meta name=\"description\" content=\"The journey of Cardano (ADA) toward reclaiming the $0.3 price level seems to be growing more challenging in the days ahead, as the cryptocurrency grapples\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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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. 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:\/\/uniquehot.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Cardano (ADA) Approaches The $0.3 Resistance: What Lies Ahead?","url":"http:\/\/uniquehot.com\/news\/cardano-nears-the-0-3-resistance\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/cardano-nears-the-0-3-resistance\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/a-19.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/a-19.jpg?fit=900%2C500"},"articleSection":"All","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ada price","altcoins","btcusd","cardano","charles hoskinson","ethusd","price action"],"dateCreated":"2023-08-14T09:20:09Z","datePublished":"2023-08-14T09:20:09Z","dateModified":"2024-06-11T08:58:19Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Cardano (ADA) Approaches The $0.3 Resistance: What Lies Ahead?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/cardano-nears-the-0-3-resistance\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/cardano-nears-the-0-3-resistance\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/a-19.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/a-19.jpg?fit=900%2C500\"},\"articleSection\":\"All\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ada price\",\"altcoins\",\"btcusd\",\"cardano\",\"charles hoskinson\",\"ethusd\",\"price action\"],\"dateCreated\":\"2023-08-14T09:20:09Z\",\"datePublished\":\"2023-08-14T09:20:09Z\",\"dateModified\":\"2024-06-11T08:58:19Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/a-19.jpg?fit=900%2C500","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/547129","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=547129"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/547129\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/547131"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=547129"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=547129"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=547129"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}