Cardano is one of the most well-known blockchains for successfully implementing a proof-of-stake consensus process that consumes less energy than Bitcoin’s proof-of-work method.
Cardano is a decentralised platform that will enable complex programmable value transactions to be secure and scalable. It is one of the first blockchains to be built entirely in Haskell, a highly secure computer language.
Cardano is developing a platform for smart contracts that seeks to be more advanced than any existing protocol. It is the first blockchain platform to be founded on a scientific worldview and methodology informed by research. The development team is comprised of a diverse worldwide group of highly qualified engineers and researchers. Let us take a look at the ADA price.
Bullish Scenario: ADA trades above the $1.05 resistance mark. If the current support level holds and the $1.16 resistance level is breached in the next days, we could see a move towards $1.42, $1.58, and above.
Bearish Scenario: Although ADA has been in an upward channel on shorter time frames like as 4 hours, (4H), daily, and so on, we cannot disregard the bearish totally, and thus failure to hold the support at $0.92 might result in a drop to $0.66 and lower.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.