ADA/USD Technical analysis | Cardano´s hardfork
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[ADA / USD] In 2020 to the current value of +91.95%
Cardano network update scheduled for February 20th was OK. The Binance crypto exchange has already announced support for the hardware and reported that no new token will be created during this time. It was the first of two planned hardforks.
Cardano has undergone network upgrades and has improved the consensus algorithm on Ouroboros BFT. The goal is to prepare for the launch of a major Shelley network update. A transitional update will cause a chain breakdown on Cardano, which the development team says is a “planned and managed protocol update”.
Cryptocurrency has an upward trend in the medium term.
ADA has a current value of $ 0.061 and its price, currently in the area of resistance, is rising. The price revolves around two EMAs. The stochastic oscillator signal points up to 6% in the oversold area, indicating increasing momentum.
ADA / USD is in consolidation and traded between $ 0.060 in resistance and $ 0.056 in support. The top of the resistance may break through or collapse into the lower support area, so patience is required. First he has to decide who will take the reins firmly, will they be bulls or bears?
