- Cardano’s CEO reveals partnership with EU Confederation
- Cardano Price Analysis – ADA price rally
The CEO of IOHK, Charles Hoskinson, the development company behind the decentralized public blockchain Cardano, states that his team is working with a confederation in the European Union to discuss the use case for distributed ledger technology. The team’s effort is geared towards one of the biggest tech trends in 2020 as companies and the government continue to discover DLT-based technologies, like blockchain. According to Cardano News Update, Hoskinson reveals to his 115,500 Twitter followers that research paper describing the findings will be released to the public this summer.
Cardano (ADA) Price Today – ADA / USD
Cardano News – The confederation, named Privilege, got there funding from the EU’s Horizon 2020 research and innovation program. It aims to discuss the issue of privacy akin to the mainstream adoption of DLT. Commenting on this, the team went thus:
“Although based on cryptographic techniques at their core, the currently deployed DLTs do not address privacy…New cryptographic techniques and protocols are therefore needed to protect the data, facilitate these applications, and make DLTs deliver on their promises.”
The confederation members include Eindhoven University of Technology, Guardtime, the University of Salerno, IBM, the University of Edinburgh, the University of Tartu, GUNET, Smartmatic-Cybernetica Centre of Excellence for Internet Voting OÜ, GRNET, and Input-Output Research (IOHK).
Cardano Price Analysis – Cardano Price Analysis – ADA price rally
Cardano’s latest update – ADA coin had shown an intraday price recovery after smashing the low at $0.0411. The positive intraday move has influenced the ADA coin to gain medium-term support from the 50-day MA, trailed by the short-term support from 10-day MA. Unlike other altcoins in the market, ADA coin has shown an increase in momentum and is likely to persist as detected from the current ADA price recovery made. ADA price is likely to establish the next higher high in continuation of the trend witnessed if it persists with the same price momentum.
Cardano News Update – going by the 3-hourly 25-day movement, the ADA/USD pair has been encouraging a steady increment since the beginning of the year 2020. The forming uptrend relapse as ADA price faced a decline when the BTC decreased after making a new 30-day high. this uptrend drove ADA price to break-through the key resistance levels at $0.0438, $0.0459, and $0.0468.
Cardano News Today – the 20-day Bollinger Bands positioned along the price trend are facing a modest bandwidth leading to no volatility in the forthcoming days. Moreover, the ADA coin is supported by the 20-day Bollinger Band at $0.0436. Besides, while the ADA price hit around $0.046, it indicated a headway of over 21% from the ADA trading price of $0.0386.
The technical indicators also affirm the intraday movement as the MACD line cuts through the signal line from below suppressing a bullish variance. The RSI of ADA is currently at 48.82 and it is observed surging away from the key support at 30.