Cardano Technical Analysis: ADA Sandwiched Between Strong Levels
Daily Cardano ADA Price Analysis
- Cardano price has strong resistance at $1.35.
- The parabolic SAR has flipped from negative to positive.
Between April 28 and May 4, the Cardano price has been hovering between the $1.35 resistance barrier and the 20-day SMA. Prior to that, ADA 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.
Cardano Price Stuck Between Strong Levels
Despite hovering along horizontally the overall market sentiment seems positive since the parabolic SAR has flipped from negative to positive. The Cardano price reached a low of $1.25, before the 50-day SMA stepped up and prevented further growth.
Image: ADA/USD daily
Cardano price faces an immediate resistance barrier at $1.35. Previously , at this level, nearly 133,000 addresses had purchased 3 billion ADA tokens. If ADA manages to cross this resistance level, it should reach $1.50.
OccamRazer and Bondly to enhance DeFi and NFT capabilities on Cardano
OccamRazer, a decentralized launchpad designed for the Cardano ecosystem, and Bondly, an interoperable/portable swap protocol empowering the next-generation of non-fungible token (NFT) creators, have announced a new strategic partnership.
Together, the organizations will explore development synergies within the growing NFT market for Cardano, a proof-of-stake blockchain platform. The goal is to enhance its DeFi capabilities; while bringing forward high-quality projects via the OccamRazer and Bondly Launchpads.
Mark Berger, President of the Ocean Association, said:
Bondly has emerged as an NFT leader and together, we believed our partnership; and by extension, the Cardano ecosystem is a natural fit. Together, we will pursue opportunities to incubate NFT startups and bring high-quality projects across our respective launchpad infrastructure.
In December 2020, IOHK, the engineering company behind Cardano, announced a partnership with Bondly, with Dan Friedman, a business development manager at IOHK; serving as an advisor to the Bondly team.
OccamRazer has been built with the Cardano ecosystem in mind as the key fundraising vehicle and catalyst for the yet-to-emerge Cardano DApp universe. There are a number of killer features of OccamRazer. These stem from the cross-chain nature of the solution, intelligent governance layer design, the width & depth of services that are untied under the Occam umbrella, compliance & regulatory toolbox offerings, plus the sheer size and weight of the Cardano ecosystem.
Cardano Price Is Expected To Reach These Levels
The Cardano price will probably keep trending along the $1.35 level between heavy levels.