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Cardano Price Prediction for Today, June 18: ADA Drops Below $0.50

The Cardano price prediction reveals that ADA may find a halt at $0.50 as the price is down by 5.99% over the last 24 hours.

Cardano Prediction Statistics Data:

  • Cardano price now – $0.43
  • Cardano market cap – $14.6 billion
  • Cardano circulating supply – 33.7 billion
  • Cardano total supply – 34.2 billion
  • Cardano Coinmarketcap ranking – #7

ADA/USD Market

Key Levels:

Resistance levels: $0.70, $0.75, $0.80

Support levels: $0.25, $0.20, $0.15

ADA/USD price is sliding below the 9-day and 21-day moving averages, and the coin may drop further lower to find support at the $0.40 level. Therefore, if the bears continue to push the market further lower, the immediate support below the $0.35 level may be located. Beneath this, further supports may be found at $0.25, $0.20, and $0.15.

Cardano Price Prediction: ADA Price May Consolidate at the Downside

According to the daily chart, if the buyers can hold the support at $0.43, the Cardano price may begin to climb higher, and bulls could expect immediate resistance to be located above the 9-day and 21-day moving averages, which is not too close to the upper boundary of the channel.

However, crossing above the upper boundary of the channel may locate the higher resistance levels at $0.70, $0.75, and $0.80. Meanwhile, the technical indicator Relative Strength Index (14) is moving below the 40-level, which shows that the market price may drop more.

ADA/BTC Market: Cardano Price Faces the Upside

When compared with Bitcoin, the Cardano price is moving to the upside within the channel, where the price is expected to cross above the upper boundary of the channel. Therefore, should the price head to the downside, the market could hit the support level at 2100 SAT and below.

ADABTC – Daily Chart

However, if the bulls continue to manage and push the market towards the north, it may cross above the channel. If successful, the ADA price may reach the resistance level of 2800 SAT and above. More so, the technical indicator Relative Strength Index (14) confirms that the market is been controlled by the buyers as the signal line moves to cross into the overbought region.

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BlockFi CEO denies CNBC’s claims that the company is being sold for $25 million

Cryptocurrency lending platform BlockFi has denied claims from CNBC that crypto exchange FTX was in talks to buy the firm for $25 million. Zac Prince, the CEO of BlockFi took to Twitter to dispel the rumors. The founder said in his tweet: “Lots of market rumors out there – I can 100% confirm that we aren’t being sold for $25M.::Listen

Cryptocurrency lending platform BlockFi has denied claims from CNBC that crypto exchange FTX was in talks to buy the firm for $25 million. Zac Prince, the CEO of BlockFi took to Twitter to dispel the rumors. The founder said in his tweet:

“Lots of market rumors out there – I can 100% confirm that we aren’t being sold for $25M. I encourage everyone to trust only details that you hear directly from @BlockFi,” 

Prince continued on to say that his team would share more information with the public when they can. Earlier today an anonymous source allegedly told CNBC about a private deal between FTX and BlockFi which was almost complete and due to be signed by the end of this week. 

According to the alleged deal, BlockFi will be sold to FTX for around $25 million. This price would be a very steep discount since it is 99% lower than BlockFi’s last private valuation of $4.8 billion. Even after the recent decline in the value of the cryptocurrency market, BlockFi was still valued at about one billion dollars by the beginning of June 2022.

The report by CNBC continued to say that the deal would take several months to complete and the price could change between now and Friday, with the end of Q2 falling on Friday being the main reason for the deal being signed. However, the report did mention comments from BlockFi saying they would not speak on “market rumors”, as well as a statement from FTX stating they “would not have anything to say” about the rumored deal.

A week before the rumored deal, BlockFi received a $250 million line of credit from FTX to help the company. Prince said the line of credit would bolster their “balance sheet and platform strength”. This isn’t the first time the firm has caught investor interest, in March 2021, the crypto lending platform was valued at $3 billion after raising $350 million in a Series D round.

The post BlockFi CEO denies CNBC’s claims that the company is being sold for $25 million appeared first on CryptoSlate.

Cardano Price Prediction for Today, June 18: ADA Drops Below $0.50

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