Cardano is showing conflicting signals after a sharp decline pushed ADA to its lowest trading range in years. While analyst Ali Charts reported that the TD Sequential indicator has flashed a buy signal on the daily chart, the broader technical picture continues to favor sellers.
The chart reflects that the ADA coin is trapped in an established downtrend pattern where there are declining higher levels and declining lower levels over a series of trading periods.
It has moved down and is currently trading at $0.1503 after falling from the $0.180-$0.185 region. There are still large bearish candles prevailing with little buying interest.
Source: X
According to Ali Charts, the latest hacking attack, where close to 129 million ADA, amounting to $20 million, was lost, was capable of only delivering a temporary bounce rather than a trend reversal. It could climb to a level of $0.160-$0.176 before the selling pressure resumes.
A failure to break through the resistance at $0.176 may push the price down once again. The level of $0.144-$0.145 remains the critical support level, given that buyers defended it amid the previous pullback.
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On-Chain Activity Climbs Despite Negative Sentiment
Blockchain analytics firm Santiment said that despite ADA approaching its lowest level since December 2020, the number of Cardano’s active addresses and social dominance had surged.
This marks the second time this month that there has been a sudden surge in Cardano’s network activity amid volatile market conditions.
Source: Santiment
The sentiment has been affected by fears regarding the Cardano ecosystem. Charles Hoskinson noted that other projects might face difficulties too, while the reduced public presence and disputes over treasury funding created doubts.
Nevertheless, Santiment noted that past increases in network activity during previous cycles typically resulted in temporary recovery rallies.
Cardano Expands Enterprise Education in Brazil
While market conditions remain difficult, the Cardano Foundation continues to expand the ecosystem into the future.
They have established a multi-year partnership with SENAI São Paulo, which is one of the largest industrial education and technology networks in Brazil.
The partnership involves blockchain education, executive education, certifications, industrial traceability initiatives, and enterprise-focused technical modules.
Director of the Cyber and AI Unit at SENAI-SP, Emerson Costa:
“By connecting talent development with real-world industrial challenges, we help ensure that technological transformation translates into greater competitiveness for Brazil.”
The first phase will take two weeks and involve technical workshops on concepts like blockchain fundamentals, smart contracts, metadata standards, and applications in industry.
It is estimated that 130 educational and research professionals will complete the first phase of onboarding. The partnership will then scale up over the following two years.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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