Analytics

Cardano Price Analysis: ADA Coin Partners With World Mobile to Deliver Telecom Network in Africa

  • ADA coin price is at $1.36 with a 1.06% profit, on Saturday’s trading session
  • On the special event CardanoAfrica, IOHK announced partnership with world mobile.
  • The ADA/BTC pair was trading at 0.00002320 BTC with a loss of 7.26%

Source: ADA/USD on TradingView

The 4-hour technical chart of ADA coin price forecasts a positive trend. According to pivot points, ADA’s critical support level is placed at $1.00. Whereas if it moves up, the critical resistance level to watch is $1.55. While diving into the weekly chart of a 4-hour time frame, it completes a pin bar candlestick pattern representing bulls are in control.

EMA- (20,50) acts as another strong support in the coin. EMA-20 (blue) intersects above EMA-50 (purple), which projects a positive trend. The price is sustaining above EMA-20 (blue). Investors may perceive a positive crossover in the EMA, and the price will also follow the positive trend.

RSI indicator (BULLISH), with a value of 57.35, indicates a buy signal in the coin. Moreover, Investors can see a flat slope in the index, which may surge in future trading sessions.

The volume of (16.46M) is above the Volume MA (13.88M) of 20-days. High buying pressure is required in Cardano to drive its price to higher levels.

Cardano Teams Up With World Mobile In Africa To Build A New Mobile Network

Watched these guys go from an idea, to the first place we’ll be using Cardano liquidity to offer real loans, providing faster, cheaper data than anything on the market. https://t.co/LomsHaXad5

— John O’Connor (@jjtoconnor) April 29, 2021

John O’Connor, director of African Operations at IOHK, posted a tweet on April 30, saying that “they will be using Cardano liquidity to offer real loans, providing faster, cheaper data than anything on the market. Starting in Tanzania, providing 50% price, 2x speed.”

ADA Coin Price Action Remains Stable And Maintains The Volume

ADA coin price traded at $1.36 with a gain of 1.06% in the last 24-hour and 14.08% up in the weekly time frame. Furthermore, ADA bounced back from the support of $1.0. In contrast, the market capitalization stands at $43 billion. Technically, investors can perceive a positive crossover in the EMA, and the price is above the EMA-20. RSI index showcases a flat slope. Moreover, the price movement can be towards the resistance of $1.56 in future trading sessions.

Resistance: $1.55

Support: $1.0

   

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