Cardano: Will ADALend become the credit platform of the future?

Investing.com – The today, like many other cryptocurrencies, is registering losses of -2.10% for an ADA price of $ 1.3362.

The good news is that the dApp ADALend project, under development, has managed to get listed on CardanoCube.io.

The booming credit platform, which relies on the Plutus Application Backend (PAB), is thus in good company. CardanoCube.io is indeed the first point of contact for anyone seeking information on the Cardano blockchain ecosystem.

ADALend intends to provide its users with a self-managed environment, based on a reliable and decentralized protocol. Borrowers will have the option of depositing digital assets as collateral in order to increase their creditworthiness vis-à-vis lenders.

This project fits perfectly with the concept of the founder of Cardano, Charles Hoskinson, who has personally set himself the objective of offering the African continent better access to financial instruments and new perspectives.

Cardano technical course benchmarks

On Cardano’s hourly chart, we can see how the resumption of the recent decline has encountered resistance above the 23.6 percent Fibo retracement of $ 1.3571.

The weakening of the positive dynamic was accompanied here by a negative divergence of the RSI (green lines). As the RSI formed a lower high, the price of the ADA hit a higher high. Subsequently, a lasting break occurred below the 23.6% fibo retracement.

To establish a higher low of $ 1.2960, a rise above the recent high of $ 1.3725 is now required.

Only if successful can a new uptrend channel be formed, allowing gains towards the 38.2 and 50.0 percent Fibo retracements of $ 1.4027 and $ 1.4395. .

By Marco Oehrl

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