Cardano Price Skyrockets! ADA Price set to Hit $2, With Introduction of New Token Type
This week, ADA gained 33%, propelling it to break the top angle of an upward price channel it had been trading in. ADA battled to break through resistance at $1.50, which was given by the 100-day MA level, prior to the breakout.
The breakout came yesterday as ADA shot to resistance at $1.70. Today, it continued to break resistance at a $1.72 and reach as high as $1.90.
At the time of writing, it is trading at $1.86 up by 17.8% in the last 24 hours. Further the immediate resistance is at $1.90. A break above will bring $1.97 to play. Incase of support from the broader crypto market, $2.05 and $2.17 will the next levels to hit.
However, if ADA dips, the support I stationed at $1.70. Further, $1.62 and $1.50 will come to play.
The RSI is overbought, indicating that the market momentum is dominated by buyers. The bullish momentum has reached its greatest point since February 2021.
A New Token Type is Introduced!
The Cardano Foundation is the first to introduce the concept of Non-Fungible Tokens of Appreciation (NFTA).They were provided by the platform to enthusiastic Cardano (ADA) contributors.
NFTAs are now available on
The Cardano Foundation, according to a comprehensive blog post, It celebrates the introduction of the Cardano (ADA) developer web portal in a unique fashion.
Ten Cardano (ADA) supporters who contributed to the blockchain’s advancement will receive the first-ever nonfungible tokens of appreciation (NFTAs).
NFTAs, as well as all Cardano tokens, are minted differently than Ethereum tokens, according to Cardano (ADA) developers. Cardano tokens are created in a similar way to ADA tokens, but without the use of smart contracts.