Why is Cardano so cheap? Cardano is so cheap because it is a fairly new project that has not caught mainstream attention like Bitcoin or Ethereum. The second factor is that there exists 45 billion Cardano. So the relative price per share (ADA) is low because of the total supply being so large.
Cardano was always a promising coin. Its proof of stake (PoS) technology meant that the network could validate transactions without Bitcoin or Ethereum's costly proof of work (PoW) system. Meanwhile, the coin's blazing speed means that the network might eventually handle up to a million transactions per second.
ADA attracted my attention technically with a nice price continuation pattern which is ascending triangle.
An ascending triangle is a chart pattern used in technical analysis. It is created by price moves that allow for a horizontal line to be drawn along the swing highs, and a rising trendline to be drawn along the swing lows. The two lines form a triangle. Traders often watch for breakouts from triangle patterns.
The price just form the pattern which means that the price has a high potential of mirroring what happened previously which is what i am targeting as $2.40 per ADA.
Promised to keep you updated at the right moment.
Cardano was always a promising coin. Its proof of stake (PoS) technology meant that the network could validate transactions without Bitcoin or Ethereum's costly proof of work (PoW) system. Meanwhile, the coin's blazing speed means that the network might eventually handle up to a million transactions per second.
ADA attracted my attention technically with a nice price continuation pattern which is ascending triangle.
An ascending triangle is a chart pattern used in technical analysis. It is created by price moves that allow for a horizontal line to be drawn along the swing highs, and a rising trendline to be drawn along the swing lows. The two lines form a triangle. Traders often watch for breakouts from triangle patterns.
The price just form the pattern which means that the price has a high potential of mirroring what happened previously which is what i am targeting as $2.40 per ADA.
Promised to keep you updated at the right moment.