ADA Price Analysis: Bears Dominating as ADA Trades at $0.58
Summary
Cardano’s ADA is currently trading at $0.58, showing a 0.42% increase in the last 24 hours. If the price surpasses $0.61, it is expected to reach $0.63. Additionally, a two-month training program for developers on the Cardano platform took place in Nairobi, Kenya, aiming to address the blockchain skills gap in the country. Cardano’s founder, Charles Hoskinson, denies any relationship with Ripple’s XRP, stating technological incompatibility as the reason.
Introduction
Cardano’s ADA has experienced a positive start to the week despite a recent selloff that brought its price below $60. ADA has rebounded from its low of $0.54 and managed to surpass the $0.60 mark. However, bears have driven the price below this level.
Main Points
- ADA is currently trading at $0.58, with a 0.42% increase in the last 24 hours.
- If ADA surpasses $0.61, it is likely to test the $0.63 resistance level.
- A two-month training program on the Cardano platform for developers was conducted in Nairobi, Kenya, in partnership with the Africa Blockchain Center (ABC).
- Cardano’s founder, Charles Hoskinson, denies any relationship with Ripple’s XRP, citing technological incompatibility.
Conclusion
Despite the recent selloff, ADA has shown resilience and potential for recovery. The training program in Kenya aims to bridge the blockchain skills gap in the country. Charles Hoskinson’s denial of a relationship with Ripple’s XRP reflects his belief in the unique goals of Cardano and its technological incompatibility with XRP. Investors will closely monitor ADA’s price movement, looking for opportunities above $0.61 and support below $0.55.