Is Cardano (ADA) Preparing To Retrace?

It’s been recently revealed that Cardano’s ADA managed to surge in price after it announced the roadmap to proof-of-stake with the Shelley upgrade.

Following this move, it’s been suggested that the price of ADA is ready to retrace as the hype around the Shelley upgrade is fading.

ADA price to go down?

CryptoBriefing notes that as the launch date is getting closer, investors take profits on ADA and they are turning their attention to other coins.

At the moment of writing this article, ADA is trading in the green and the coin is priced at $0.121079. The coin is up by 1.17%.

The online publication mentioned above notes that “Indeed, the TD sequential indicator presented a sell signal on ADA’s 3-day adding credence to the pessimistic outlook. The bearish formation developed as a green nine candlestick anticipating a one to four candlesticks correction.”

They continue and write that “A red two candlestick trading below a preceding red one candle could serve as confirmation that Cardano is poised to drop further.”

Cardano is hiring

In other news, Cardano is hiring, and they made sure to post the announcement on social media. Check it out below.

We recommend that, if you’re interested, you check out the official notes posted by Cardano.

In other news, Cardano also addressed the crypto hacks that have been plaguing the crypto space.

Cardano team made sure to highlight the following:

“- We will never give away ADA
– We will never contact you first
– We will never ask you to send your funds or ask for your private key
– We will never promise very big returns”

Stay tuned for more ADA and Cardano-related news.


Companies Mentioned

CoinMarketCap
CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

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Andreas Townsend Author

I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.

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