Cardano [ADA] Rises 2.94% in 24 Hours, Are High Weiss Ratings in Play?

Cardano [ADA] Rises 2.94% in 24 Hours, Are High Weiss Ratings in Play?

Cardano [ADA] prices are up 2.81% in the past 24 hours, while the market trades in red. The sudden price rise can be attributed to the fact that recently, Weiss Crypto Ratings tweeted that Cardano is ‘Clearly Superior’ to EOS.

 

The Case of Weiss Crypto Ratings

Weiss Crypto Ratings, a subsidiary of Weiss Ratings in a tweet recently mentioned that the Cardano Blockchain is clearly much better than the EOS blockchain.

Source- Twitter

Both the blockchains are working earnestly on providing top-notch technological solutions. In order to compete with Ethereum’s blockchain, they are working to provide scaling, performance, and security improvements that would allow their respective blockchains to function at a commercial level on a global scale. Weiss had earlier also spoken well about Cardano. The firm further shared a screenshot which mentions that Cardano[ADA] completed its first balance check on its recently launched Shelly testnet.

Source- Twitter

However, despite this, on Weiss Crypto Rating’s official ranking page, EOS remains above with an ‘A-‘ grade as opposed to Cardano’s ‘B+’ grade.

Source- Weiss Crypto Ratings

Will Cardano Cross $0.44 Range?

ADA was facing major price fluctuations between $0.042 and $0.041. On the 10th of November, it suffered a loss of 3.79 percent and reached 0.041889. The key support levels to look out for lies between $.0421 and $0.041 with resistance at $0.043. If the prices drop they may well stay in the range of $0.40 and $0.41 range. If Cardano [ADA] manages to break resistance at $0.43, the prices may rally to 0.44 range.

Cardano
Source: Coinstats

The price rise has also been accompanied by a significant increase in the market cap. The market cap has increased by $3 MM in 24 hours. Also, more than $15 MM have been added to ADA’s market cap since the starting of the month.

Technical Indicators

Source- Trading View

Relative Strength Index (14)-55.08235689
Stochastic %K (14, 3, 3)-52.19542362
Commodity Channel Index (20)-59.75604573
Average Directional Index (14)- 11.23596077
Exponential Moving Average (5)-0.04345288
Simple Moving Average (5)-0.04341000
Exponential Moving Average (10)-0.04324838
Simple Moving Average (10)- 0.04318600

Will Cardano prices rise further? Let us know, what you think in the comments below!

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Cardano [ADA] Rises 2.94% in 24 Hours, Are High Weiss Ratings in Play?
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Cardano [ADA] Rises 2.94% in 24 Hours, Are High Weiss Ratings in Play?
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Cardano [ADA] prices are up 2.81% in the past 24 hours, while the market trades in red. The sudden price rise can be attributed to the fact that recently, Weiss Crypto Ratings tweeted that Cardano is ‘Clearly Superior’ to EOS.
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Author: Supriya Saxena

Coming from a physics background the unpredictability and intrigue of the cryptoverse attracted me to take a dive in this field. I am all eyes and ears for the latest trends in blockchain and crypto sphere. Whenever I am not writing or researching, I love to read sci-fi novels, play basketball and watch action movies. I strongly believe that blockchain and cryptocurrency will bring lasting transformations in people’s lives in the years to come. You can reach out to me at supriya [at] coingape.com.

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Supriya Saxena 216 Articles

Coming from a physics background the unpredictability and intrigue of the cryptoverse attracted me to take a dive in this field. I am all eyes and ears for the latest trends in blockchain and crypto sphere. Whenever I am not writing or researching, I love to read sci-fi novels, play basketball and watch action movies. I strongly believe that blockchain and cryptocurrency will bring lasting transformations in people’s lives in the years to come. You can reach out to me at supriya [at] coingape.com.

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