The recent FUD created by China led to a coded bloodbath. The market lost more than 250 billion dollars. Bitcoin and Ethereum, two major cryptocurrencies, are down about 15%.
Despite the top hype, Cardano is down 4% at $2.26. The third largest cryptocurrency is up about 2% during the week. ADA price is currently supported above the $2 mark
Cardano price action
The altcoin price was able to rebound quickly after the crash. The price fell below $2 before rising above it. Despite his inability to break through the resistance, Cardano was able to maintain firm support.
Cardano is now hovering around $2.3. Looking ahead, the resistance levels are $2,649 and $3
$2.90 straight. We may only see ADA price reach new highs if a clear close is achieved above $2,502.
However, in the event of a pullback, support is at the $2,058, $1,815 and $1.513 price levels.
The Relative Strength Index (RSI) indicates that there is a strong buying interest. From the oversold position, the RSI line is approaching the normal area, which is interesting to buyers. However, at the moment, the Moving Average Convergence Divergence (MACD) indicator is indicating a bearish waiting state.
Cardano Partnerships
chain link
Cardano’s parent company, Input-Output, has announced its collaboration with Chainlink to benefit Cardano developers in building smart contracts for protective DeFi applications.
Cardano joins Chainlink to provide additional support to developers who build smart contracts by integrating oracles.
dish network
American telecom company Dish Network has struck a deal with developer Cardano Input Output to build blockchain services.
Cardano blockchain network and TV and wireless service provider Dish Network have said they have struck a deal to help Dish integrate the Cardano blockchain into its telecom business and help provide digital identity services to Dish customers. The partnership will allow Dish to offer 8 million digital identities to its customers
