Cardano (ADA) faced a sharp turn in its prices. After a strong positive momentum offered at first, ADA changed the path, reflecting the achievement of profits in the wider market.
After climbing for four consecutive days to the highest level of $ 0.746 on April 24, the ADA price began to decrease. Cardano distinguishes two consecutive days in losses and is on the right path to celebrate the third if the price ends today.
Despite the withdrawal, Cardano managed to maintain the level of Psychological $ 0.70. Ada may indicate fixed at this level that buyers are still defending it, which prevents deeper correction, at least at the present time.
The level of $ 0.70 between Daily SMA 50 and 200 is located at $ 0.674 and $ 0.764, respectively, making it a natural battle for bulls and bears. Until now, the bulls have succeeded in keeping Ada on his feet, indicating that the main strength is still despite the fluctuation of the market.
If ADA can exceed $ 0.70 and restore rising momentum, this may be working in the direct obstacle in Daily SMA 200 from $ 0.764. A large increase above here will target one dollar level after that.
Related
On the other hand, the failure to maintain $ 0.70 may offer Cardano for more declines, with the next possible support level in Daily SMA 50 at $ 0.674 and then $ 0.60.
Currently, ADA’s ability to keep the line keeps the door open for the new apostasy, but market morale in the coming days may be it is very important in determining its next main movement.
Cardano network update
According to the latest global entry update (IOG), 1993 is now a project built on the network.
Related
The symbolic activity is still high, with 10.77 million local symbols and 212,489 symbolic policies. The smart contract is increased, with 131,015 texts of PLUUTUS and 6,492 text software currently published. The network processed a total of 108.73 million transactions.
On the side of the governance, 1,261 Dreps is recorded, with 935 activity involved, indicating 0.49 % growth in decentralized representation since last week.
