The Cardano token has taken advantage of a recovery of more than 46% to achieve position again in the TOP 10 of the crypto market. In the last 24 hours, ADA presents slight losses of 0.59%, obtaining a price of $ 0.1087 at the time of writing.
Cardano Roadmap Update Reveals Important Developments
Recently the team behind Cardano revealed the latest update to the roadmap, which includes the progress made, such as the progress of the Daedalus and Adrestia wallet, smart contracts and the clearing of the path towards decentralization.
New advances include the Daedalus update to version 2.4.0, which will bring improvements to access details about the saturation of a delegation group, details of potential rewards in the tooltip, improvement of the portfolio ranking, design more intuitive and table view improvements.
To this must be added the work they are doing to integrate Daedalus with the Trezor and Ledger wallet. They are currently in the last stage, named test and review.
As for Adrestia, development has focused on Catalyst, in order to add support to different wallets and assets. They have also worked on adding support to the delegation for the wallet hardware and the Cardano – Rosetta partnership.
Catalyst, as the latest version of Cardano, has also seen good progress. This last era aims to decentralize, contribute and democratize the chain.
In this update of the roadmap, the work that is being carried out is discussed in favor of the development of voting registration scripts. In addition, work was done on Bitte’s deployment tool for the Fund2 vote.
It is a long list of improvements that have been pointed out in this roadmap, but this article would make us too long and complicated to review all these technical aspects of the chain. If you want to see the complete document, visit this link.
For now, let’s see how the price of Cardano has behaved during the last days, in order to try to forecast its near future.
Cardano price technical analysis
In the weekly time frame of the ADA vs USD chart, we observe a behavior that tends to be bearish, but without too much force.
After the price fell towards a demand zone near $ 0.07, the bulls quickly appeared, leaving a bullish candle with strong rejection of low prices.
Today the moving averages 8 EMA and 18 week SMA are crossed to the downside, and they work as dynamic resistances.
Although there was some indication of a downtrend in the medium term, still the bears are not showing enough strength. It is quite likely that we will soon see an effective leadership transition, a scenario that is already being observed in shorter time frames.
With the general outlook of the crypto ecosystem, with a positivism that floods everything, it is likely that the previous annual maximum zone, close to $ 0.1700, will soon be sought. Higher up the next target is $ 0.2259.
Cardano should stay in the TOP 10, at least in the short term
From the daily chart we observe a clearer bullish behavior, made up of continuous highs and lows that are higher and higher, breaking resistance.
The moving averages EMA of 8 and SMA of 18 days are crossed to the upside and working as dynamic supports, supporting the uptrend in the medium term.
The 200-day SMA is also currently bullish, supporting Cardano’s strong gains in recent months, and who led it to fight for a spot in the TOP 10.
If this behavior continues, the resistance at $ 0.1244 will be reached and surpassed in the next few days, which will leave the ground free towards a first objective at $ 0.1500, and then seek the previous annual maximum nearby at $ 0.1700.
Given that the medium-term trend should seek a new high, perhaps that annual high is not a problem for bulls.
All our publications are informative in nature, so in no case should they be followed as investment advice.