Bcnex Trading Platform is Launching its ICO Token Sale

Coinspeaker Bcnex Trading Platform is Launching its ICO Token SaleBcnex – a cryptocurrency trading platform developed by a Vietnamese team – has announced its upcoming Token Sale. The innovative startup has been actively working with the Vietnamese government to improve the legal framework for managing virtual currencies and digital assets. The outcome is expected to have a very positive impact on the industry and crypto prices.The team behind Bcnex is positioning the platform as the first soon-to-be-regulated cryptocurrency exchange in Vietnam with a subsequent expansion to other countries. This is an ideal way for Asian investors to enter a new startup that is backed by industry best practices and a regulatory framework. Technology is at the heart of Bcnex as the exchange offers a set of competitive advantages over existing solutions on the market. A few of the core principles Bcnex is built on are:A highly secure and stable trading platform built on microservices architecture that meets the most stringent customer requirements. Plus, Bcnex has partnered with Akamai to ensure that the system is protected at the highest security level.Strong customer focus and excellent user experience through 24/7 support service.Superior processing power with an institutional-grade trading engine which can process up to 2M orders per second, one of the fastest in the industry.With a rich and abundant source of liquidity, Bcnex ensures that every transaction on the system is executed without delays and multiple intermediaries.Regulatory framework with the baking of the 844 Program of the Vietnamese Government.Bcnex has already successfully raised $1,000,000 during its Angel Funding Round, which was only open to Vietnamese investors. Now, the startup is preparing for its public token sale on the 3rd of May 2019.BCNX tokens issued by Bcnex will be used primarily as a medium of exchange on the platform and will also be used for access to token sales, listing and sponsorship fees, and as payment for any services rendered by Bcnex in preparing teams for token sales or listings. Funds from the sale of Bcnex tokens will be used to further development on the Bcnex trading platform and ICO management ecosystem and to expand our marketing campaign.The sale of BCNX in tandem with a widespread user base will help Bcnex achieve its intention of becoming a world-leading, regulated ICO management platform and cryptocurrency exchange. The overwhelming support for the project already in the successful presale period is a testament to the trust of users and the crypto community in the innovative startup.The team behind Bcnex is working to lay the foundation for the global expansion of a regulated cryptocurrency market with all proceeds raised in our token sale event helping further this vision and make it a reality.Investors who wish to participate can do so during one of the 4 upcoming sessions:The first session is for purchases using ETH with flexible price, ranging from $0.15 to $0.25 USD.The second one is for purchases using BTC with a flexible price, ranging from $0.25 to $0.35 USD.The third one is for purchases using USDT with a flexible price, ranging from $0.35 to $0.45 USD.The last session is for purchases using BCN with a fixed price of $0.45 USD.There are only 100,000,000 BCNX for sale. The BCNX Tokens Sale Event is expected to end on June 27th, 2019, when the hard cap reaches $15,000,000, or when all tokens are sold out, whichever comes first. American and Canadian citizens are not allowed to participate. All unsold tokens will be burned.Bcnex is not only a cryptocurrency exchange, it is also an ecosystem that offers its users the opportunity to trade crypto assets on a fully-fledged, transparent and secure financial platform. The full spectrum of the components of the ecosystem includes:Bcnex Blockchain Trading Platform: This is the main service of the Bcnex Ecosystem. Bcnex Blockchain Trading Platform enables investors and contributors living in different countries to exchange tokens/coins of different blockchain, crypto-related projects.Bcnex Launchpad: The Bcnex Launchpad serves as a fundraising platform and facilitates fundraising activities for innovative startups. Bcnex Launchpad hosts and guides startup teams and businesses going through different rounds of funding – from Private Sales/Angel Funding Sessions to Public/Open Funding Rounds. Launchpad also supports various forms of funding raising, such as ICO/STO/IEO, depending on the project’s roadmap and development plan.Project Data Center: Bcnex plays a key role in assisting investors as a transparent advisor and provides them with sufficient information about projects that are incubated in Bcnex Ecosystem. Bcnex also offers a rating service for most blockchain-crypto-related projects. This service is based on many different criteria. Thereby, investors can make their most accurate investment decison.Bcnex Startup Incubator: provides support to startups to expand their business ideas; provide capital, technical help, networking…. etc.Bcnex not only supports startup projects but also creates value for communities. It cooperates with the Vietnamese Government in managing and regulating the activities of venture capital and crowdfunding activities to support innovative technological startups in Vietnam.Bcnex’s ICO Tokens Sale is coming up. In the mean time, you can also apply for trading contest here https://www.bcnex.net/trading-competition.html. Trade to receive rewards.Bcnex Trading Platform is Launching its ICO Token Sale

Blockchain Takes the Stage at the Fintech Symposium

The Depository Trust and Clearing Corporation (DTCC) was a big hit at the recent Fintech Symposium. Among the two main topics discussed were cryptocurrencies and blockchain technology.
Blockchain Is Becoming More Mainstream
The DTCC primarily works in artificial intelligence (AI), the Internet of Things (IoT) and cloud computing. It also has amassed a $48 trillion portfolio comprised of various stocks, bonds and additional assets. In many ways, DTCC can be considered a traditional investment and software firm, and the fact that it’s discussing crypto is more proof that the technology is becoming more mainstream and reaching far stretches of the world.
This is comparable to a recent story (published by Live Bitcoin News) regarding E-Trade, a traditional investment and trading company that announced it would soon be rolling out cryptocurrency trading for its customers. Digital assets are seemingly growing in popularity, and companies like E-Trade and the DTCC are looking to make room for them.
Arguably, they don’t want to miss out on the “fad” and risk losing any money in what can now no longer be considered a speculative arena, but a legitimate asset class.
The DTCC says it is preparing to launch its own blockchain. It will store information regarding $10 million in transactions each year. In addition, the company recently published a document talking about how securities should be managed when they’re “issued on a blockchain.”
The company’s CEO Michael Bodson explains:
The potential of DLT [Distributed Ledger Technology] is undeniable, but the question remains whether its enormous power to transform financial services will ever be fully harnessed. Personally, I have confidence in the technology, but our own experience with it reinforces that it’s going to take time and patience, and much more hard work and practice.
Bodson certainly has a point with his words. Blockchain, for the most part, is primarily being used strictly on a crypto basis, though it has been proven to boast capabilities regarding supply chain coverage, as well as uses in industries like healthcare and even traditional banking. The technology has its benefits, but it’s just not being used enough. Bodson clearly states that this is because the technology is so new.
However, this may be on the verge of change. A recent poll conducted amongst 300 separate DTCC customers showed that approximately 74 percent of those surveyed were “participating in blockchain projects” that would be offered to customers in the coming years. However, only 23 percent of these customers planned to involve these blockchains with cryptocurrencies given fears of fraud, regulation-based scrutiny and price volatility.
Can’t Everyone Relax?
Commenting on these fears was Bob McElrath, the blockchain architect for Fidelity Digital Assets. He believes that in the future, all cryptocurrencies will become stable coins, thereby alleviating present concerns. He states:
If you can’t do custody, you can’t do anything else.
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Couple in Manhattan Charged Following Crypto Fraud

An American man from Arizona and a woman from Israel have been charged with conspiracy and bank fraud. Both individuals are accused of providing “illicit financial services” to users of digital assets.
Crypto Crime is a Constantly Running Theme
Federal prosecutors are claiming that the pair worked to “conceal the true nature” of several millions of dollars that were traveling through banks they were working with across the globe. The pair being charged are named Reginald Fowler and Ravid Yosef. Both have been accused of purchasing and selling crypto funds with people from everywhere while touting the funds as “real estate proceeds” to separate banking institutions.
As Live Bitcoin News has reported time and time again, crypto crime is consistent throughout 2019. Despite the price drops of bitcoin and several other forms of crypto over the past several months (bitcoin did not even start to pick up pricewise until early April), the criminal behavior infecting the crypto space has seemingly gotten bigger.
Just yesterday, our outlet discussed a man in Israel that had been charged with stealing Dash cryptocurrency from his friend. Approximately 75,000 units were taken, which accounted for roughly $6 million to $9 million at the time of writing. The man ultimately gained access to his friend’s apartment and transferred the Dash funds to a wallet he could control. His friend had been a cryptocurrency trader since 2013, and it is unknown how he had gained access to his now former pal’s password.
Just two hours ago, we discussed a new document that emerged claiming that crypto-related crime was at an all time high and had already accounted for roughly $1.2 billion in losses for the first quarter of 2019. This is particularly upsetting considering the report mentions that the total losses for 2018 were $1.7 billion, which means we’re not too far from reaching that tally just three or four months into the new year.
How could things progress that quickly, and why isn’t more being done to stop this? Are regulations truly that weak, or are they just not being enforced?
The pair being charged allegedly failed to follow “established compliance procedures.” This included know-your-customer (KYC) tactics and other protocols designed to protect users and their funds from misappropriation and other types of fraud. Aside from charges of bank fraud and conspiracy, Fowler is facing an entirely separate charge for “operating an unlicensed money-transfer business.”
Why Are Crypto Regulations Still So Loose?
Fowler is in custody and is currently scheduled for a court hearing, while Yosef has not yet been apprehended. It is estimated that the pair abused customers all over the world in countries such as Turkey, the United Arab Emirates (UAE), Germany and Australia. The case is being handled by prosecutors in Manhattan, New York.
The post Couple in Manhattan Charged Following Crypto Fraud appeared first on Live Bitcoin News.

Crypto Crime Is Exceeding Professional Expectations

Cryptocurrency theft remains a huge problem throughout the space, and quarter one of 2019 is already off to a rough start.
Crypto Crime Is at Its Worst
According to a new report released by cybersecurity firm Cipher Trace, more than $1.2 billion in crypto funds have been stolen in just the first three months of the year. Losses from hackings and fraudulent activity appear to be at an all-time high, and citizens need to take preventative measures, so they and their funds can remain protected.
Cipher Trace also comments that the total amount of cryptocurrency stolen in 2018 through cyberattacks was $1.7 billion. That means in the first three months of the new year, we’re just shy of hitting that tally (less than $.5 billion). The company says that crime has predominantly sped up as the market has slowed and business activity in the cryptocurrency space has become less common and prosperous.
In all, approximately $356 million has been stolen from various exchanges, while misappropriated funds or fraud directed at individuals accounts for more than $850 million in losses. This includes losses derived from the recent Quadriga X scandal that occurred last December. The owner of the Canadian company was ultimately found dead in India. He was the only one with the login information necessary to unlock the funds in customers’ accounts.
Cipher Trace chief executive officer Dave Jevans comments:
Crypto crime has gotten worse because regulations are still weakly enforced. Europe broadly has not implemented its regulations yet, and the cybercriminal community continues to grow. I would also add that insider issues such as fraud or theft have grown mostly due to operations outside of the U.S. where regulations are poor, or simply due to greed and mismanagement by young management teams at these cryptocurrency companies that are managing hundreds of millions or even billions of dollars.
At one point, attacks like Mt. Gox and Coincheck appeared to be at the top of the crypto theft game, though these attacks and others are now small beans when compared to the growing numbers of losses that have been accumulating since 2018.
Mt. Gox and Coincheck occurred roughly four years apart, and both took place in Japan. Mt. Gox occurred in February 2014, while Coincheck was attacked in January 2018. Both exchanges lost well over $400 million in cryptocurrency funds. Altogether, both companies account for roughly $1 billion in total losses.
Is This Going to Stop?
Coincheck was enough for Japan to get the Financial Services Agency (FSA) involved in regulating crypto activity. It began sending nasty letters to all exchanges that did not meet present security standards.
Cipher Trace comments that there was also “a major gap” in the crypto regulatory environment with regards to cross-border payments from the U.S. to international crypto exchanges. These companies are often not monitored or examined by U.S. authorities.
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Bitcoin Price Analysis: BTC/USD Price Broke Up at $5,574, Targeting $5,716

Coinspeaker Bitcoin Price Analysis: BTC/USD Price Broke Up at $5,574, Targeting $5,716Key Highlights:Bitcoin price is currently consolidating on the 1-hour charts;the breakup at $5,574 level has exposed $5,716 resistance level;the Bulls are still in control of the Bitcoin marketBTC/USD Medium-term Trend: BullishResistance levels: $5,716, $5,910, $6,120 Support levels: $5,574, $5,459, $5,255BTC/USD remains bullish on the medium-term outlook. The former resistance level of $5,574 did not hold, the bears could not defend the level. The Bulls increased their pressure and broke up the former resistance level of $5,574 and pushed up the Bitcoin price towards $5,716 level. At the opening of the market today, a bullish candle formed, which indicates that the Bulls are still in control of the market.The distance between the Bitcoin price and the two EMAs is increasing; this indicates that the bullish momentum is increasing. Bitcoin is trading above the 21 periods EMA and 50 periods EMA. The Relative Strength index period14 is above 60 levels with the signal line bending down which connotes sell signal which may be a pullback.Increase in the Bulls momentum will make the Bitcoin to touch $5,716 level and may break up the level and face $5,910 price level. In case $5,716 level holds Bitcoin price may continue ranging within the level.BTC/USD Short-term Trend: Bullish BTC/USD is on the bullish trend on the short-term outlook. Bitcoin price bounced at the demand level of $5,459 and the Bullish engulfing candle formed at the same level on April 30. This bullish pressure propelled the BTC price to the north and broke up the $5,574 level. The coin is currently facing the $5,716 price level.BTC price continues its trading above the 21 periods EMA and 50 periods EMA with slow speed. However, the Relative Strength Index period 14 is above 60 levels with the signal lines pointing down to indicate sell signal.Bitcoin Price Analysis: BTC/USD Price Broke Up at $5,574, Targeting $5,716

Killing Bitcoin Will Backfire Against the Governments

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Ever since bitcoin’s creation, people have wondered what would happen if the government issued a ban. The author of the Bitcoin Standard Saifedean Ammous, discussed what the implications of killing bitcoin would be in the crypto-economic podcast of Stephen Livera.
Ammous also touched on the potential mass adoption scenario. Livera shared his thoughts on why killing bitcoin would backfire and bite the government:
“Most people think that if the government simply passes a law for a bitcoin ban, the cryptocurrency simply goes away and the criminals in suits get to laugh at us. I actually think it’s the other way around. The more governments move against bitcoin and cryptocurrencies in general, the more corrupt and inadequate their economic policies are.”
Killing bitcoin would essentially mean that the government is threatening crypto users with jailtime. If a lot of people start using crypto, there’s a probably a good reason for it. A ban would essentially be a financial restriction, which will not end for the government.
As it can be seen in the case of China, banning cryptocurrencies does not stop people from using it. One of the main reasons for bitcoin’s existence was to move people without the consent and/or knowledge of one’s government.
Many different excuses for killing bitcoin, none make sense
This is why more and more governments are coming up with ridiculous reasons to impose further restrictions. Ironically enough, the more restrictions a government creates, the worse their monetary policy is.
One comforting fact is that killing bitcoin will take more than a few government puppies in suits signing a paper. Cryptocurrencies are a philosophical movement in their own way. Yes, they are also a tool for a completely new economic system so it’s completely natural they scare banks and governments.
After all if people knew where money came from, they would light every bank on fire.

Ammous later stated that there are so many drawbacks for the government that he doesn’t realistically see any way they go for killing bitcoin without hurting themselves more.
He also said that the only way to get rid of bitcoin and cryptocurrencies in general would be to give the people a new financial wonder, way better than both the current monetary system which relies on debt slavery and better than cryptocurrencies.
You can also check out:

New Ethereum Hope with Highly Optimistic Future Outlook
Apple Credit Card Will be the Beginning of the End for Banks
Riot Blockchain is Not Rising Only Because of Bitcoin
Crypto Credit Card: Another Interesting Promise by McAfee

The post Killing Bitcoin Will Backfire Against the Governments appeared first on CoinStaker | Bitcoin News.

Gambling Galore: The Many Advantages of Betting with Bitcoin

The act of gambling has been around since before mankind even began recording historical events. Making bets and placing wagers may well be some of the oldest pastimes human beings have ever known, and over the centuries these games of chance have faced many periods of change and evolution.
However, one single aspect has remained throughout – the very nature of a wager: the chance to select the right option or to guess the correct answer and win a prize. The risk involved, the arrogant confidence of believing one is right, the possibility of an embarrassing loss – all these elements add up to an intoxicating cocktail for the player.
21st Century Gambling
Technological developments have brought to us new and exciting ways to gamble in the 21st century, most notably over the Internet and from the comfort of our own homes. Online gambling has revolutionized the industry, making casino games available to millions of people who previously had no access to the sector at all. Not only does online gambling make the industry more internationally accessible, but also adds an extra element of privacy and simplicity.
Many gamblers who would have traditionally attended physical casinos on a weekly basis now prefer to play from the familiar safety of their own home. However, while this offers many advantages, online gambling has also brought with it inherent risks. Buying chips or depositing money over the Internet is dangerous because it requires you to hand over sensitive personal details. Not only is this a potential security risk but it is also slow and expensive.
Bitcoin to the rescue
Cryptocurrencies like Bitcoin offer a unique solution to this problem by providing the ability to transfer money online anonymously and without the need for any personal details.
Online casino sites began adding Bitcoin gambling as an option a few years ago but it has exploded in popularity more recently due to the increased interest in cryptocurrencies and blockchain technology. As more and more customers began to realize the advantages that if offers, online casinos rushed to add support for the use of Bitcoin on their platforms. Now, it has become one of the most popular methods of online gambling available.
What’s all the hype about?
Well, first and foremost, when gambling with Bitcoin you don’t need to hand over any sensitive banking details. No more worries about a catastrophic data breach that could result in your credit card details being sold online from some dodgy black market website. When gambling with Bitcoin, the only piece of info you need to begin playing online is your Bitcoin wallet address. Many websites also offer support for a multitude of other cryptocurrencies like Ethereum, Litecoin, XRP, and Dash, so you have a wealth of choices.
Secondly, the transferring of funds is considerably cheaper and far less time-consuming. Bank transfers take notoriously long to clear – sometimes as long as three days! Credit card payments are usually quicker but can often attract exorbitantly high fees of five percent or more sometimes. Due to the decentralized nature of blockchain technology, Bitcoin doesn’t require any third party interference, making fund transfers quick, cheap and easy.
Conclusion
Many people remain skeptical of cryptocurrencies like Bitcoin due to the reputation they have for being used by criminals. In reality, however, Bitcoin is far more secure and less susceptible to theft than almost all other traditional means of online payment.
The post Gambling Galore: The Many Advantages of Betting with Bitcoin appeared first on CoinStaker | Bitcoin News.

XRP Price Analysis: XRP/USD Remains Near $0.31, Targets $0.33 Price Level

Coinspeaker XRP Price Analysis: XRP/USD Remains Near $0.31, Targets $0.33 Price LevelKey Highlights:The Bears are still in control of the XRP market;the Bears’ pressure may push the XRP price down to $0.27 demand level;the pullback is inevitable in the XRP market.XRP/USD Price Medium-term Trend: BullishSupply levels: $0.33, $0.34, $0.36 Demand levels: $0.31, $0.30, $0.28On the medium-term outlook, XRP/USD is bullish. The Bears lost their momentum when XRP/USD price found its support at $0.28 price level. The Bulls gained momentum, big bullish candle emerged and the XRP/USD price was returned above the $0.30 level.The coin started a sideways movement within the range of $0.30 and $0.31 price level. On April 30, the Bulls increased their pressure and this was seen on the 4-hour chart with the formation of Strong bullish candle which penetrated the barrier at $0.31 and put the price above the price level.XRP price has penetrated the two EMAs and currently trading above the 21 periods EMA and 50 periods EMA. The Relative Strength Index period 14 is above 60 levels with the signal lines pointing down to indicate a sell signal.The continuation of the bullish trend is highly envisaged; should the Bulls maintain or increase their pressure the coin may break up the $0.33 supply level and target $0.34 level. Sideways movement may continue at this level in case the bears defend the $0.33 level.XRP/USD Price Short-term Trend: BullishXRP/USD is bullish on the short-term. The Bears pressure could not continue with the downtrend movement immediately the Bulls oppose the move at $0.28 level and the coin rallied above $0.30. The momentum of both the Bears and the Bulls were equal and this resulted in consolidation for four days on the 1-hour chart.There was a breakout at $0.31on April 30 and the price is placed above the just mentioned level. The Relative Strength period 14 is below 60 and the signal lines bending down to connote sell signal which may be a pullback.XRP Price Analysis: XRP/USD Remains Near $0.31, Targets $0.33 Price Level

Multibillion Banking Giant SABB Launches Cross-Border Transfers with Ripple’s XRP

Coinspeaker Multibillion Banking Giant SABB Launches Cross-Border Transfers with Ripple’s XRPLast week, during the Financial Sector Conference, Saudi British Bank (SABB) launched its Instant Cross-Border Payment Service powered by Ripple’s blockchain technology. The announcement comes amidst the bank’s plan for a strategic shift towards “digital transformation and enriching customer experience”.SABB is a multibillion-dollar banking giant currently controlling $50 billion in assets. SABB joined Ripple’s blockchain network last year in January 2018 under the support of the Saudi Arabian Monetary Authority (SAMA). Also, by December 2018, SABB processed its first-ever payment in Indian Rupee/INR using Ripple’s blockchain technology.Majed Najm, Deputy Managing Director Corporate and Institutional Banking at SABB, called it a crucial step initiated by SABB in improving its banking services. Najim notes that using the latest technology and global products available, SABB plans to establish systems that help to save time and effort for their customers.Furthermore, the initiative will also bolster SABB’s position as a “leading global bank in the Kingdom”. Najim added:“SABB provides its customers with faster, safer and more transparent cross-border payment services by the launch of “Blockchain” technology through “Ripple”. The Indian Rupee (INR) is a positive start to an upcoming roadmap being the first currency to be activated in SABB. This plan aims to provide customers with a valuable service and link more countries and currencies in the near future.”This strategic partnership can give Ripple an edge over its SWIFT competitor.Ripple- Competing With SWIFTThe emergence of blockchain technology is changing the dynamics of global banking. Riding on the blockchain wave, Ripple is slowly emerging as a major competitor to Swift. However, for Ripple to topple Swift in its game, it has to bring as many banking partners as Swift to its platform. For this, Ripple needs to boost the liquidity of XRP and enhance the usability of the Ripple blockchain network.Ripple CEO Brad Garlinghouse is pretty confident and consistent in his vision to make Ripple a dominant player in providing banking infrastructure. In November 2018, speaking to Bloomberg, Garlinghouse said:“The technologies that banks use today that Swift developed decades ago really hasn’t evolved or kept up with the market. Swift said not that long ago they didn’t see blockchain as a solution to correspondent banking. We’ve got well over 100 of their customers saying they disagree. What we’re doing and executing on a day-by-day basis is, in fact, taking over Swift”.JPMorgan – A New Ripple ChallengerWhile Ripple plans to emerge as a leader in blockchain-based banking payments systems, the road ahead is not easy. This is because Wall Street banking giant JPMorgan is already working on its blockchain plans.Last week CoinSpeaker reported that JPMorgan has now over 200 banks signed up to its IIN blockchain network. JPMorgan’s Interbank Information Network (IIN), is a permissioned variant of the Ethereum blockchain.Also, the IIN network has seen sign-ups from some of the world’s leading banking institutions like the Royal Bank of Canada, India’s ICICI Bank, Bank of Sharjah, National Australia Bank Limited, and more.When it comes to occupying a larger pie of the blockchain-based banking space, other players like IBM and Stellar are also in this race.*To learn more about XRP coin, Ripple company, and their innovative solutions, please check out our awesome Ripple guide.Multibillion Banking Giant SABB Launches Cross-Border Transfers with Ripple’s XRP

Cardano (ADA) Price Analysis: One Last Dip Before Higher?

ADA price remains in a strong downtrend below the $0.0722 resistance area against the US Dollar.
The price tested the $0.0630 level and recently corrected higher towards $0.0700.
There is a major bearish trend line in place with resistance at $0.0712 on the 4-hours chart (data feed via Kraken).
The price could stage a strong recovery if there is a break above $0.0710 and $0.0722.

Cardano price declined steadily in the past few days against the US Dollar and bitcoin. ADA is currently correcting higher, but it won’t be easy for buyers to gain strength above $0.0722.
Cardano Price Analysis
In the past few weeks, there was a strong decline in cardano price from well above $0.0850 support against the US Dollar. The ADA/USD pair tumbled below the $0.0800 and $0.0700 support levels. There was even a close below the $0.0700 level and the 55 simple moving average (4-hours). Recently, the price traded below the $0.0655 support and formed a new swing low at $0.0630. It is currently correcting higher above $0.0655 and $0.0660.
The price cleared the 23.6% Fibonacci retracement level of the recent decline from the $0.0798 high to $0.0630 low. However, the $0.0700 level is acting as a strong resistance along with the 55 simple moving average (4-hours). More importantly, there is a major bearish trend line in place with resistance at $0.0712 on the 4-hours chart. The trend line coincides with the 50% Fibonacci retracement level of the recent decline from the $0.0798 high to $0.0630 low. Besides, the previous support area near $0.0722 could act as a significant resistance.
Therefore, the price is likely to struggle near $0.0700, $0.0710, $0.0720 and $0.0722. A successful close above the $0.0722 level and the 55 simple moving average (4-hours) could set the pace for more upsides. The next key resistance is near $0.0760, and the 76.4% Fibonacci retracement level of the recent decline from the $0.0798 high to $0.0630 low. In the mentioned case, the price is likely to climb higher towards $0.0800 or even $0.0820.

The chart indicates that ADA price is clearly trading below many hurdles near $0.0700 and $0.0720. If there is no clear break above $0.0720 and $0.0722, the price will most likely decline once again. On the downside, the $0.0650 and $0.0630 levels are decent supports. In the worst case scenario, the price might dive to a new swing low and later rebound sharply above $0.0700.
Technical Indicators
4 hours MACD – The MACD for ADA/USD is slowly gaining momentum in the bullish zone.
4 hours RSI – The RSI for ADA/USD climbed above the 50 level, with a few positive signs.
Key Support Levels – $0.0650 and $0.0630.
Key Resistance Levels – $0.0710 and $0.0722.
The post Cardano (ADA) Price Analysis: One Last Dip Before Higher? appeared first on Live Bitcoin News.