Altcoins

ADA Price Holds Resistance! Hoskinson chalks 2022 for Cardano

Written by: Qadir AK

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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Dec 26, 2021

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Over the last 24 hours, the broader cryptocurrency market has experienced conflicting market mood, but the regime has been encouraging. The gains, however, are minor, with most coins reporting earnings of less than 1%. With gains of 11 and 13 percent, Sandbox and Enjin Coin are the top gainers.

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ADA Price Action 

Cardano also shows signs of price losses, dropping to $1.42 in a few short hours while its market cap rests at $59,530,615,864

The immediate the resistance lies at $1.47. On successful Breakout the bulls will then attempt to push the price to the overhead resistance at $1.87.

On the other hand, However, as per the current market sentiment the bears are unlikely to give up easily and will attempt to pull the price back below the 20-day EMA. 

In this case the ADA/USDT pair could drop to the strong support at $1.18. A break and close below this level could sink the pair to $1.

 Resistance –  $1.47. 

 Support – $1.32.

Hoskinson Maps out 2022 for Cardano!

In a recent  YouTube video, the Cardano founder and CEO of Input Output Hong Kong (IOHK) discusses 2021 milestones and future ambitions with his 300,000 subscribers.

Hoskinson’s list includes completing plans to use blockchain technology to provide inexpensive loans to the world’s poorest people through decentralised finance. 

The CEO believes that empowering individuals financially across Africa could have far-reaching consequences that could disrupt traditional finance.

Following that, Hoskinson goes over a list of outlined technological milestones for the future year.

He says, a formal open-source project structure will be established, similar to Hyperledger for Linux. Many institutions will be wired in, and all of the people who are now working on it, including myself, will be novated over, he added.

Following through on the initial technical goals, Hoskinson concludes, leads to the achievement of future goals in a cascading pattern. 

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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