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" [ad_1]\r\n<br><div><p><strong>In brief:</strong></p><ul><li><strong>This past week has seen Cardano (ADA) flourish in the crypto markets. </strong></li><li><strong>This was due to two reasons: news of staking ADA on Coinbase Custody with potential for a future listing and the availability of the Shelley Mainnet on July 7th. </strong></li><li><strong>$0.10 – $0.11 is the next serious area of resistance for ADA/USD in the crypto markets. </strong></li></ul><p>For the past week or so, Cardano (ADA) has grabbed the crypto headlines due to numerous project developments. To begin with, IOHK begun the rollout of the Cardano upgrade known as Shelley. This upgrade has been years in the making and Shelley will usher in an era of decentralization and staking on the Cardano blockchain network.</p><p>Beginning July 7th, Cardano investors and holders will be able to stake their ADA on wallets that have undergone the upgrade. Furthermore, staking rewards will start being distributed on August 18th as explained through <a rel=\"nofollow noopener noreferrer\" href=\"https://forum.cardano.org/t/shelley-rollout-an-important-day/35147\" target=\"_blank\">the Shelley rollout</a> plan below courtesy of IOHK.</p><p><img class=\"aligncenter size-large wp-image-562419\" src=\"https://en.ethereumworldnews.com/wp-content/uploads/2020/07/Shelley-Roadmap-staking-1024x612.jpg\" alt=\"Cardano (ADA) Could Break $0.11 on Coinbase Staking & Shelley Rollout 12\" width=\"1024\" height=\"612\" srcset=\"https://en.ethereumworldnews.com/wp-content/uploads/2020/07/Shelley-Roadmap-staking-1024x612.jpg 1024w, https://en.ethereumworldnews.com/wp-content/uploads/2020/07/Shelley-Roadmap-staking-300x179.jpg 300w, https://en.ethereumworldnews.com/wp-content/uploads/2020/07/Shelley-Roadmap-staking-770x460.jpg 770w, https://en.ethereumworldnews.com/wp-content/uploads/2020/07/Shelley-Roadmap-staking-240x143.jpg 240w, https://en.ethereumworldnews.com/wp-content/uploads/2020/07/Shelley-Roadmap-staking-717x428.jpg 717w, https://en.ethereumworldnews.com/wp-content/uploads/2020/07/Shelley-Roadmap-staking-1347x805.jpg 1347w, https://en.ethereumworldnews.com/wp-content/uploads/2020/07/Shelley-Roadmap-staking.jpg 1461w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" title=\"Cardano (ADA) Could Break $0.11 on Coinbase Staking & Shelley Rollout 17\"/></p><h2>Cardano Staking on Coinbase Custody Beginning Q4</h2><p>Secondly, during the Cardano Virtual Summit this past Friday, the team at IOHK <a rel=\"nofollow noopener noreferrer\" href=\"https://www.coindesk.com/coinbase-custody-to-allow-secure-cardano-staking-later-this-year\" target=\"_blank\">announced</a> that beginning Q4 2020, users will be able to stake their ADA from inside Coinbase’s cold storage.</p><p>To note is that Cardano is yet to be supported for trading on Coinbase. This, in turn, means that there is a high chance of ADA being listed on the trading platform this year and before staking can be available on Coinbase Custody. Cardano has been explored by Coinbase for potential listing <a rel=\"nofollow noopener noreferrer\" href=\"https://blog.coinbase.com/coinbase-is-exploring-cardano-basic-attention-token-stellar-zcash-and-0x-9e44f0eb823f\" target=\"_blank\">since mid-2018</a>.</p><h2>Cardano Could Break $0.11 on Coinbase Staking and Shelley Rollout</h2><p>Also in the past week, Cardano has embarked on a confident climb in the rankings on  Coinmarketcap due to the events surrounding the project. On its way up, ADA has now edged out ‘heavyweights’ such as Binance Coin (BNB), EOS and Crypto.com Coin.</p><figure id=\"attachment_562421\" aria-describedby=\"caption-attachment-562421\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img class=\"wp-image-562421 size-large\" src=\"https://en.ethereumworldnews.com/wp-content/uploads/2020/07/Cardano-CMC-July-4th-1024x351.jpg\" alt=\"Cardano (ADA) Could Break $0.11 on Coinbase Staking & Shelley Rollout 13\" width=\"1024\" height=\"351\" srcset=\"https://en.ethereumworldnews.com/wp-content/uploads/2020/07/Cardano-CMC-July-4th-1024x351.jpg 1024w, https://en.ethereumworldnews.com/wp-content/uploads/2020/07/Cardano-CMC-July-4th-300x103.jpg 300w, https://en.ethereumworldnews.com/wp-content/uploads/2020/07/Cardano-CMC-July-4th-770x264.jpg 770w, https://en.ethereumworldnews.com/wp-content/uploads/2020/07/Cardano-CMC-July-4th-240x82.jpg 240w, https://en.ethereumworldnews.com/wp-content/uploads/2020/07/Cardano-CMC-July-4th-717x246.jpg 717w, https://en.ethereumworldnews.com/wp-content/uploads/2020/07/Cardano-CMC-July-4th.jpg 1063w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" title=\"Cardano (ADA) Could Break $0.11 on Coinbase Staking & Shelley Rollout 18\"/><figcaption id=\"caption-attachment-562421\" class=\"wp-caption-text\">Rankings courtesy of Coinmarketcap.com.</figcaption></figure><p>The digital asset is currently ranked eighth and could with time, also edge out Litecoin and Bitcoin SV based on the activities surrounding the project well into the fourth quarter of 2020.</p><p><img class=\"aligncenter size-full wp-image-562423\" src=\"https://en.ethereumworldnews.com/wp-content/uploads/2020/07/ADAUSD-July-4th.jpg\" alt=\"Cardano (ADA) Could Break $0.11 on Coinbase Staking & Shelley Rollout 14\" width=\"1003\" height=\"457\" srcset=\"https://en.ethereumworldnews.com/wp-content/uploads/2020/07/ADAUSD-July-4th.jpg 1003w, https://en.ethereumworldnews.com/wp-content/uploads/2020/07/ADAUSD-July-4th-300x137.jpg 300w, https://en.ethereumworldnews.com/wp-content/uploads/2020/07/ADAUSD-July-4th-770x351.jpg 770w, https://en.ethereumworldnews.com/wp-content/uploads/2020/07/ADAUSD-July-4th-240x109.jpg 240w, https://en.ethereumworldnews.com/wp-content/uploads/2020/07/ADAUSD-July-4th-717x327.jpg 717w\" sizes=\"(max-width: 1003px) 100vw, 1003px\" title=\"Cardano (ADA) Could Break $0.11 on Coinbase Staking & Shelley Rollout 19\"/></p><p>Further checking the daily ADA/USD chart, the following can be observed.</p><ul><li>Cardano is experiencing considerable resistance as it attempts to break the $0.10 to $0.11 prize zone.</li><li>ADA/USDT is clearly in bullish territory as seen through the trajectory of the 50-day, 100-day and 200-day moving averages.</li><li>Trade volume is in the green and MACD is also exhibiting bullishness.</li><li>However, the daily MFI looks exhausted at 86.</li></ul><p>Therefore, ADA/USD might be due for a correction and/or sideways as it gathers momentum to break the $0.10 – $0.11 resistance level. The momentum for this move will be from the rollout of Shelley into August as well as staking on Coinbase custody in Q4. Furthermore, the probability of ADA being listed on Coinbase in 2020 is high.</p><p>However, with Bitcoin exhibiting some weakness that could lead to a fall below $9,000, the 50-day moving average might provide adequate support for Cardano between $0.08 and $0.07.</p><p>As with all analyses of Cardano, traders and...</p></div>\r\n<br>[ad_2]\r\n<br>Read more:<a href=\"https://en.ethereumworldnews.com/cardano-ada-could-break-0-11-on-coinbase-staking-shelley-rollout/\">Cardano (ADA) Could Break $0.11 on Coinbase Staking & Shelley Rollout - Ethereum </a>"
<https://marketforbitcoin.com/2020/07/05/cardano-ada-could-break-0-11-on-coinbase-staking-shelley-rollout-ethereum/>