Cardano (ADA)
It is quoted at $ 0.5478, 6.45% less in the last 24 hours, after a strong correction fueled by the anxiety of the market surrounding the growing geopolitical conflict in the Middle East. The Token fell from a maximum of $ 0.586 to a minimum of $ 0.5464, with the most pronounced fall during the 9:00 p.m. when Ada fell 3.2% in 126 million volume, according to the technical analysis model of Coindesk Research. The 24 -hour negotiation volume rose to 37.37% above its 30 -day average.
Despite this volatility, Cardano continues to attract long -term interest. Almost $ 1 billion have been withdrawn in the centralized exchanges in 2024, and the great headlines have accumulated more than 310 million tokens only in June.
The institutional interest in the Cardano ecosystem was also underlined this week for the launch of a new proof of concept proof initiative that involves the IAGon decentralized storage platform, the LEGAL TECHNOLOGY FIGURE Cloud Court and Ford Motor Company. The pilot project aims to prove the viability of combining the cardan blockchain infrastructure with the decentralized storage of the IAGON cloud to support safe legal data management systems.
Ford is contributing to the project in an advice, taking advantage of its internal experience in the management of large -scale legal data operations. The initiative is designed to explore how a hybrid architecture, where confidential legal documents are encrypted and stored outside the chain, and access records and verification are handled in the chain, the molts address long -standing problems such as fragmented records, inefficient collaboration and lack of auditability. The project also reflects the presence of Cardano in business environments, with possible applications that extend to sectors such as medical care, finance and public administration.
TECHNICAL ANALYSIS
- ADA decreased 7.0% of $ 0.586 to $ 0.545 during the analysis window, forming a range of $ 0.041.
- The most pronounced intradic movement occurred during the analysis window, marked by a decrease per hour of 3.2% and a high volume.
- A high volume resistance level was formed at $ 0.569, while the support was tested at $ 0.545.
- The recovery attempts during 23:00 and 00:00 hours failed to break the resistance, despite the volume of more than 60 million ADA.
- A descending channel with lower and minimum lower ups and downs confirmed the bearish structure.
- Between 06:05 and 06:38, Price entered an upward channel with a sequence of higher and higher minimums.
- The resistance arose at $ 0.558, and a support zone was developed around $ 0.554.
- The volume reached its maximum point at 2.3 million ada during candle 06:16, supporting a temporary upward movement.
- It followed a modest setback from $ 0.558 to $ 0.556, which represents the typical consolidation after the rally.
- The volume decreased during recoil, which suggests weakening the sale impulse.
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