Cardano Market Overview: IOHK gears up for Miami summit. ADA/USD goes down by 8.88% as crypto market takes a dive

  • The IOHK Summit will take place on April 17th and 18th in Miami, Florida.
  • ADA/USD went down by 8.88% as the crypto market as a whole dived this Thursday.

IOHK is the technical development company responsible for technical development of Cardano protocol. On 17th and 18th April, they are going to be hosting the “IOHK Summit” in Miami, Florida at the Miami Convention Center. As per the IOHK Summit website: 

“The IOHK summit is an opportunity for blockchain enthusiasts and businesses from around the world to meet, collaborate, and learn more about the challenges facing the blockchain industry.”

Some of the events that will be happening during the summit are:

  • Collaborative hackathon hosted by IOHK's talented engineers.
  • Workshops and talks from all areas of IOHK development.
  • Updates on Cardano development and the vision for Cardano 2020.
  • Live solving of a cryptographic puzzle.
  • Live interviews from the members of The Cardano Effect podcast.
  • Special announcements from IOHK CEO Charles Hoskinson.
  • On 18th April the CTO of Emurgo, Nicolas Arqueros and Engineering R&D Lead Sebastien Guillemot will give updates on their roadmap and talk about Emurgo's developments for Cardano. Emurgo is the investment arm of Cardano.

ADA/USD Daily Chart

  • ADA/USD went down by 8.88% as the crypto market as a whole dived this Thursday.
  • ADA/USD went down from $0.090 to $0.082.
  • ADA/USD found support at the 20-day simple moving average (SMA 20) and bounced right back up.
  • The $0.79 support line is exceptionally critical and the bulls will need to rally together and defend it at all costs.
  • The last five sessions of the Elliot Wave Oscillator are bearish. However, they are decreasing in intensity.
  • The signal line has converged with the moving average convergence divergence (MACD) line in the MACD indicator. This shows that the momentum now lies with the bears.
  • The relative strength index (RSI) curve has crept out of the overbought zone.

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