Ardor is a cryptocurrency developed by Jelurida that is designed to solve scalability issues with other blockchain platforms. It is designed so that potential developers on the blockchain can build applications with relatively minor input. One of its biggest improvements on the Ethereum blockchain is its parent-child chain architecture. This reduces overcrowding on the main chain and allows for better maintenance of the overall network. On the Ardor blockchain, coins are put into circulation through a process called minting, which is a much more energy efficient process than cryptocurrency mining.
Here is a video that gives a quick overview of the cryptocurrency and its’ utility:
Ardor Technical Analysis
Let’s look at where Ardor is on a technical basis at the moment, Here is Ardor’s daily chart for the past year:
We can see that it looks like the daily chart of many other altcoins at the moment. It had a huge run up in 2017, making an incredible move from around a penny per coin to highs of just over 2$ a coin! However, any asset class that makes this kind of move needs a big pullback and consolidation before making its way higher. Many other altcoins have similar looking charts at the moment.
We have seen a big pullback the last two months and we’re now sitting at the .40s level. However if you can see on the daily that .35 level was resistance last year. Resistance will often turn into support, and that looks like what is happening with Ardor at the moment. It held that level twice in February, which is a good sign for long-term investors. If we can get over the .55 level and hold above it, we could see some more upside later this year.
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