Cardano’s ADA token gained 4.3% on Wednesday, rising above $0.22, but its technical outlook remains fragile. The SuperTrend indicator has turned bearish, following a similar signal on May 22 that preceded a 46% correction, although an identical outcome is not guaranteed this time. Holders of between 100 million and 1 billion ADA have kept their positions largely unchanged over the past 10 days, offering no clear sign of buying or selling. A daily close below $0.21 could lead to a decline toward $0.17, while a weekly close above $0.31 would be required to turn the trend bullish. Charles Hoskinson also introduced Quinelings, an experimental project featuring self-replicating digital creatures, and has been working on a Cardano programming language focused on intents, privacy-preserving computation and Groth16 proofs.
Source: Read the original article
