Cardano Price Prediction: ADA Continues To Hover Between Strong Levels

Daily Cardano ADA Technical Analysis

Last Updated July 23rd 2021
2 Min Read
  • Cardano price has robust support at $1.33.
  • The parabolic SAR has flipped from negative to positive.
  • The Cardano price jumped from $1.09 to $1.33 between April 26 and April 28. During this upward surge, ADA managed to flip the 20-day and 50-day SMAs from resistance to support. Following that, ADA price has been hovering horizontally.

    Cardano Price Stuck Between Strong Levels

    Over the last six days, the Cardano price has been hovering horizontally around $1.34 level, stuck between the $1.33 support and the $1.39 resistance. However, the overall market sentiment seems positive since the parabolic SAR has flipped from negative to positive.

    Image: ADA/USD daily

    ADA/USD daily chart 050421

    Cardano price faces an immediate resistance barrier at $1.42. Previously , at this level, nearly 18,400 addresses had purchased > 205 million ADA tokens. If ADA manages to cross this resistance level, it should reach $1.50.

    Image: IntoTheBlock.

    ADA/USD volume chart 050421

    Cardano Aims To Bring Connectivity and Digital Identity to 100,000 People in Tanzania

    IOHK, the company behind Cardano, recently said that it’s partnering with blockchain-based mobile network World Mobile Group to bring internet connectivity to African citizens. The initiative is starting in Tanzania, where it will give 100,000 people living in rural areas digital access to mobile internet, digital identity, and financial solutions. 

    The project aims to provide 5G internet access and give customers a blockchain-based platform that they can use to verify their identity.

    It also aims to bridge the gap between unbanked and financial products like credit, insurance, and loans. 

    IOHK CEO Charles Hoskinson said:

    Through our digital ID solution, Atala PRISM, people who were previously unable to verify their identity, complicating and often preventing access to vital services like healthcare will now be able to do so. Atala PRISM will also allow citizens to provide backup copies of important documents like qualifications or property ownership documents, which can allow returning refugees to reclaim their homes.

    The announcement follows IOHK’s deal with the Ethiopian government to provide a Cardano-based identity solution that can digitally verify grades and monitor the school performance of the nation’s 5 million students.

    At Cardano’s Africa special event on Thursday, Hoskinson explained why the firm focuses on bringing blockchain solutions to the developing world as opposed to advanced economies. 

    If you look at the developed society, there’s not as strong of a demand for upgrading or changing in the United States or the European Union as there are in Eastern Europe, Africa, Southeast Asia, and other places…

    Cardano Price Is Expected To Reach These Levels

    The Cardano price needs to break past the $1.42 resistance wall to reach the $1.50 psychological barrier.

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