Cardano, Terra, Polkadot
2/3
Investing.com – Cardano, Terra, and Traded in different directions on Wednesday, January 26, 2022. rose 6.49% to 1.0960, fell -2.30% to $64.08, and rose 6.49% to $64.08. rose 4.53% to $18.92.
Cardano: Is streaming merger the ultimate solution?
The development of dApps has seen a meteoric evolution since the Alonzo update of the Cardano blockchain last September. One of almost 1000 smart contract projects in development is the Cardax DEX.
The platform aims to make the most of the advantages of the ADA blockchain. Users will have the ability to trade all available native tokens and even bundle multiple tokens into a single transaction.
If this is really the case, it will prove that the developers have successfully solved the concurrency problem of the blockchain through an algorithmic technique. called streaming merge.
Terra: exit from the triangle expected
On the 4-hour chart, Terra recently retested the 23.6% Fibo retracement support at $61.33.
The ensuing rally will be met with resistance at the 38.2% Fibo retracement of $65.88, reinforced by a descending trendline.
Only a sustained entry past this resistance zone will consolidate the recovery from the recent low towards the 50 percent Fibo retracement of $69.55.
If, on the other hand, the ascending trendline and the 23.6 percent Fibo retracement are broken, losses should be expected towards $53.99.
Polkadot: Can resistance be broken?
Polkadot broke out from below the trend channel on the 4-hour chart, but oversold conditions offered support at the $16.00 area.
A positive divergence formed (blue arrows) and the ensuing rally led to a test of the 23.6% Fibo retracement of $18.85. Resistance in this area is reinforced by the lower boundary of the trend channel.
For this reason, it will be difficult to find enough momentum to get back into the trend channel. If successful, the rally may continue towards the 38.2 percent Fibo retracement of $20.70.
Otherwise, losses are likely to resume towards the recent low of $15.86.
By Marco Oehrl
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