Cardano: Ethereum should pay more attention to ADA projects

Investing.com – rose 1.67% on Thursday, March 31, 2022, trading at 1.2096. The recent gains are mainly due to progress in the Hydra scaling solution, which is now running on a public testnet.

It is no secret that the founder of Cardano, Charles Hoskinson, has been involved in several crypto projects on the African continent for some time. However, it would seem that he wants his commitment in this area to be more appreciated by the founder of Vitalik Buterin as well.

Zambia’s President Hakainde Hichilema recently tweeted that his country’s citizens can take advantage of the new technology. He wrote :

“It’s great to see that international tech leaders share our vision of a modern and innovative #Zambia at the heart of the region.”

In response, Buterin reacted as follows, thus incurring the displeasure of Hoskinson:

“I hope more blockchain and crypto projects will have a positive impact in Zambia and across Africa! There is still a lot to do in terms of scalability, easy-to-use wallets and other important areas , but there are also a multitude of great possibilities”.

It was only last month that Hoskinson announced the establishment of an African peer-to-peer credit network from Kenya. He himself estimates that billions of dollars will be transferred from industrialized countries to Africa, where interest rates are much higher.

He responded to Buterin’s statement with the tweet following :

Cardano Technical Outlook

Cardano has admittedly managed to break above the 50 percent fibo retracement of 1.1915, but so far it has been impossible to achieve a daily close above this zone.

Today, ADA makes another attempt after the 38.2% Fibo retracement at 1.0868 was established as support.

If the gains continue, expect further resistance at the 61.8 and 78.6% Fibo retracements of $1.2962 and $1.4452.

With the RSI in the meantime in the overbought zone, a consolidation of gains should not be ruled out.

By Marco Oehrl

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