Mike Parsons, chairman of the Cardano Foundation, stepped down from his post as head of the foundation after Charles Hoskinson and Emurgo CEO Ken Kodama voiced their frustrations with the network's poor performance and attempts to centralize power.
ADA/USD
The departure of the chairman of the board coincided with a 2% drop in the price of ADA. While this ADA/USD price action still does not negate our bullish outlook, it is likely that falling prices of other assets, especially BTC, could reduce the value of ADA.
As such, we recommend that conservative traders wait until the price reaches 9.5 cents or the October high. Otherwise, if the price falls below 7.5, losses below support at 7 will signal sellers with targets at 6 cents.
IOT/USD
According to the company, by 2020, 20 billion devices will be interconnected, forming a perfectly scalable and secure IOTA trading platform. XDK2MAM will serve as a link between the device and the IOTA trading platform.
At the moment, the price movement of IOT/USD is quite stable, over the last day the price has increased by 2%. Therefore, our bullish trading plan is still in effect, traders can continue to buy with stops at 50 cents.
Meanwhile, conservative traders can begin to readjust their positions by setting limits at 60 cents. The first targets will be 90 cents, while a drop in price to 50 cents will provoke sellers who can push the price to 30 cents.
According to newsbtc.com
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