The price of Cardano (ADA) consolidated between the 20 day exponential moving average and the support at $1,87. As a result, the bears were unable to push the price below this level, which suggests accumulation at lower levels. Cardano (ADA) is a digital currency that is based on blockchain. Its price is up 12.2% in 24 hours. The bulls have gained control of the price above the 20-day EMA and the RSI has also started to climb into the positive zone, which suggests that the downward momentum may be easing.
The break above the resistance line will signal that the bulls have regained their footing. A close above this level will then indicate that the bears are back in the game. Cardano is a decentralized platform that enables complex transactions in a secure and scalable manner. It is built on the Ethereum blockchain and is one of the first projects to implement the highly secure Haskell language. Unlike other blockchain projects, Cardano tackles the need for regulatory oversight while protecting consumers’ privacy and security. Its decentralized software architecture is built on a robust and flexible platform. Cardano will use a democracy-based governance system that will allow the project to evolve and fund itself through a visionary treasury system.