Price Analysis

Cardano (ADA) Price Analysis: Trends Are Bullish, Recently Signed An MoU With Govt. Of Georgia

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The IOHK foundation and government of Georgia recently announced a blockchain technology partnership with the signing of a memorandum of understanding (MoU). The aim of this MoU is to explore blockchain-enabled solutions for the Ministry of Education and Science using Atala and Cardano blockchain.

Cardano (ADA) Current Statistics (On June 18, at UTC 08:46):

  • The trading price of Cardano to USD is 0.0902 USD.
  • ADA vs. Bitcoin was trading around 0.00000986 BTC per chip.
  • The Market Cap of the ADA coin was 2,343,501,899 USD.
  • The 24-hour trading volume was 162,380,288 USD.
  • With an ROI of 316.96%, the total supply was 25,927,070,538 ADA.

Cardano Price Chart Comparison:

Cardano price Chart - 18 June

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Let’s analyze the price variation in Cardano (ADA) over a period of 25-days. On May 21, the coin was trading at 0.07952 USD, but in comparison to today’s price, it made a substantial jump of 13.43%. Similarly, in weekly charts, Cardano has strengthened by a slight margin of 2.28%, when compared to the trading price of 0.08776 USD on June 11.

Cardano Price Prediction:

There is a slight slowdown in the market when compared to yesterday, but it is not the end of the bull run. As per our prediction, Cardano will most probably be trading around $0.1 by the end of the year. For now, there is a resistance level at 0.095 USD, and further, the coin got support at 0.090 USD.

Conclusion:

With the signing of MoU with the Government of Georgia, IOHK foundation aims at enhancing its market extension and also an endorsement by a government will inculcate a sense of reassurance for the investors. Partnering with any new government or organization and maintaining positive news in the market are the two tried and tested methods for the growth of any cryptocurrency and Cardano (ADA) is doing great in both the areas.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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