Categories: Ethereum

Cardano’s Shelly TestNet Is A Handover, ADA Adds 7.3%

Click here to view original web page at
  • Cardano (ADA) is up 7.3 percent
  • The path towards complete decentralization continues through Shelly TestNet

Shelly TestNet is live. To the end, Charles Hoskinson is in Israel as he waits for feedback from the country’s developers. Meanwhile, ADA is consolidating along 9.5 cents following June 26 doji candlestick.

Cardano Price Analysis


Charles Hoskinson is a technical leader, passionate about crypto. After parting ways with Ethereum following the contentious and implicating DAO, he continues to head Ethereum Classic development.

Overly, he is generally thorough, guiding Cardano’s IOHK in matters quality. As a smart contracting platform prioritizing quality and peer reviewing over speed and compromise, their five-step development through to Voltaire will produce a verified, peer-reviewed platform which is scalable and completely decentralized.

It may take some few years before Voltaire. However, the release of Shelly TestNet, the path towards the ultimate goal is being fast-tracked. Because of Shelly, there will be decentralization. That is precisely why the blockchain community has its interest in the project.

The TestNet which is live, launched on June 21, allows experimentation on Staking. Besides staking, this TestNet prepares the network for the final transition of transaction validation from IOHk to the community’s staking pools.

Testing will be in three phases. The first stage enables users to create a Rust Self Node while simultaneously establishing the basic configuration of staking pools. After that, all these Rust Self Nodes will connect into one “unified TestNet” before incentive building and delegation in the third stage.

Candlestick Arrangement

Trading at 9 cents, ADA is bullish and 7.3 percent higher from last week’s close. Despite the slowdown in the previous day, the path of least resistance is up. In an altcoin season, ADA is likely to attract capital, especially if this TestNet reveals the real power of Cardano.

Because ADA is within a bullish breakout pattern against the USD, every low is technically a loading point. However, while there is an opportunity for aggressive traders, it is imperative that prices edge past May 2019 resistance at 9.5 cents.

There were attempts on June 26, but the resulting doji points to indecision. ADA prices could print lower. On the other hand, any firm close above 9.5 cents, preferably with high trade participation could trigger ecstatic buys as traders aim at 12 cents. Such a move will confirm the bull breakout pattern of late March.

Technical Indicators

As the trend line shows, the dominant trend is up. Although there is consolidation, trading volumes are high. In that case, break and close above 9.5 cents, validating this trade plan should ideally be with high participation exceeding 603 million of June 26.

Chart courtesy of Trading View. Image Courtesy of Shutterstock

Tags:ADACardanoShelly Play BTC Games, ETH Games, USDT Games, BCH Games, LTC Games

The path towards complete decentralization continues through Shelly TestNet

Shelly TestNet is live. To the end, Charles Hoskinson is in Israel […]


Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Published by

Recent Posts

Late Hal Finney Predicted $10 Million Per BTC After Satoshi Release

Although some Bitcoin critics will spite anyone who believes that the cryptocurrency will be worth more than 1000× its current… Read More

4 hours ago

Bitcoin {BTC} adoption: chief as well as U.K. Central Bank leader are optimistic about virtual currencies

Bitcoin is placed right at the top of the market, with the BTC dominance rate currently at 68.7%. The trading… Read More

4 hours ago

Top Pro Athletes Like Messi Would Make a Killing in Bitcoin Earnings

According to Messari research, Lionel Messi's take-home pay would be "12,700 $BTC" annually. Cristiano Ronaldo's would be 10,000 bitcoins. |… Read More

4 hours ago

House Financial Services Committee Will Continue Libra Review

Representative Maxine Waters, chair of the United States House of Representatives’ Financial Services Committee, says the committee will continue to… Read More

4 hours ago

Circle CEO Says Tokenized Fiat Currencies Are on the Horizon

Jeremy Allaire, the CEO of blockchain-based, crypto-inclusive money transfer company Circle, said that the firm has long held that major… Read More

4 hours ago

Devcon uses Ethereum platform to issue 150 tickets

Devcon5, the Ethereum Foundation’s fifth annual conference which takes place October 8-11 in Osaka, Japan, is using the Ethereum platform… Read More

4 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More