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- Strong fundamental update from IOHK on Cardano 1.4 and Charles Hoskinson.
- ADA / USD has the potential to fly another 70% more, but must first break down $ 0.0400-0.0450.
ADA / USD has gained 66% in the last five days. A big thank you to the renewed upside sentiment that has returned to the market. Furthermore, there have been positive fundamental developments from the Cardano foundation. This is in the form of the 1.4 update and of the recent perspective comments of the creator Charles Hoskinson.
Cardano update 1.4
The IOHK team provided details of the update through their recent blog post.
A key aspect of the upgrade is the significant improvement in its storage capacity. Furthermore, it covers other code corrections. Ultimately, it paves the way for the decentralization of the Cardano network with Project Shelley.
This update solved most of the network problems in connection, which affected several users in the past. The use of optimized block storage reduces the number of files needed from 1.3 million to just 44,000.
Charles Hoskinson Upbeat on Updates
The creator of Cardano, Charles Hoskinson, has recently published a new video on the latest update of Cardano, version 1.4. He said: "It's a considerable improvement, and post-upgrade people should really notice a big improvement there."
Charles Hoskinson has admitted that the process is a bit slow and will require patience. He indicated that the Cardano team will examine the creation of a channel on Telegram to assist anyone with migration problems.
He noticed, "It's a big update, and you're basically going from the old, bad data layer to the new, fantastic, wonderful, big data layer, but it takes a while in the process of that transition."
New features of Cardano in Q1 and Shelley
Hoskinson was also discussing the Shelley project. The purpose of this is to make Cardano decentralized. The Cardano team will use the first quarter of 2019 to test new protocols to ensure the functioning of the ideas, incentives, delegation and new rules of the ledger.
He has detailed, "There will be some changes to the rules of the ledger.There will be some changes to the API, and there will be some changes to the network stack, and all of these things are necessary for us for Shelley's logic."
Technical review – ADA / USD
Daily ADA / USD chart. Short-term vital barrier shortly thereafter, with tracking from $ 0.0400- $ 0.0450. This would be the key to seeing a return to fall levels prior to November.
After overcoming the rise from a range lock, ADA / USD saw buyers enter, raising the price. There is a short-term barrier only in a further upside. This can be seen from $ 0.0400 up to $ 0.0450. An upper area noted between November 23rd and 3rdrd December, not allowing the price to go back.
If the bulls maintain the recent upward momentum, then the price should break through. Probably, an eventuality of a new wave will see a new and powerful wave of additional pressure to buy. There may be room for a further jump of 70% plus the next barrier is not seen up to $ 0.0800- $ 0.0850, territory before the November fall.
Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. It holds investment positions in the currencies, but does not carry out trading activities in the short term or daily.
Featured image courtesy of Shutterstock.
