Cardano's (ADA) price fell by 10% due to the market retreat. However, signs of recovery appeared after surpassing the $0.70 support level.
Charles Hoskinson’s Approval
Charles Hoskinson, the founder of Cardano, announced that the integration of Ripple’s largest stablecoin, RLUSD, into the Cardano blockchain is being explored.
Price Movements and Technical Indicators
On Tuesday, ADA rose to $0.6783 with increased trading volume, marking a 2.49% daily gain. This suggests a positive trend, though RSI remains around 44 and MACD below the signal line.
Key Support and Resistance Levels
Technical analyses indicate significant support levels at $0.60 and $0.63, with a critical point at $0.55. Resistance levels are recognized at $0.90 and $1.00.
The integration of RLUSD into Cardano’s ecosystem could enhance its infrastructure and application diversity. Strategic developments and technical analysis provide significant insights into the platform’s future dynamics.
