Cardano price analysis: ADA/USD lags reaction as Cardano Foundation releases new roadmap
- Cardano price is trimming gains accrued along the week.
- In the coming 18 months, the Foundation will concentrate on “stability, interoperability and governance.”
Cardano, like many the majority of the digital assets in the market is closing the week’s trading making lower corrections. The price has started trimming gains that had been accrued this week. ADA/USD tested the key resistance zone at $0.16 but lacked the gasoline to retrace higher or even consolidate above $0.150. The price dipped further on Friday morning (GMT) but bounced back before testing the support at $0.135.
The Cardano foundation has today announced the release of a new roadmap. The announcement on Twitter reads, “The latest Cardano roadmap is out! Marlowe (a financial domain specific language being developed by IOHK) has been added, the wallet backend has been updated and much more!”
The development team will continue with the development of the Cardano Daedalus wallet particularly the backend and debugging. They will also improve the integration with third-party APIs and later migrate from Byron to Shelley making the network more decentralized. In the coming 18 months, the Foundation will concentrate on “stability, interoperability and governance.” More details on the contents of the roadmap can be found on Cardano’s official website.
Technically, Cardano is a sitting duck at $0.143 waiting for either the Bulls or the Bears to attack. $0.1450 is the immediate resistance level, but the 100 SMA will cap the gains at $0.148 while the 50 Simple Moving Average is a significant hurdle at $0.15004.
ADA/USD 30’ chart
Author
John Isige
FXStreet
John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren
