Cardano

Hydra

Waves

Strong

Million

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/cardano-finds-strong-support-and-enters-new-uptrend/" data-wpel-link="internal">Cardano Finds Strong Support and Enters New Uptrend</a> 
Cardano’s (<a href="https://en.coin-turk.com/cardanos-struggle-amidst-ecosystem-growth-and-stablecoin-challenges/" data-wpel-link="internal">ADA</a>) price found strong support over the weekend, halting its downward trend. This development suggests that ADA has entered a new uptrend and could see a significant jump soon. This change may have been supported by announcements made at the RareEvo Blockchain event. 
<h2 style="text-align: justify" id="strong-cardano-s-hydra-technology-and-1-million-hack-reward-make-waves-strong">Cardano’s Hydra Technology and $1 Million Hack Reward Make Waves</h2> 
The RareEvo event, held from August 15-17 in Las Vegas, brought together Blockchain enthusiasts. At the event, Cardano’s Hydra technology drew attention. Hydra is a layer 2 scaling solution aimed at increasing the network’s transaction capacity. The technology ran the DOOM <a href="https://newslinker.co/category/gaming/" target="_blank" rel="noopener" data-wpel-link="exclude">game</a> at 35 FPS and 35 transactions/second, completing 3 million transactions in one hour. 
Additionally, Cardano’s founder Charles Hoskinson promised a $1 million reward to anyone who successfully hacks the Lace Paper wallet. This announcement generated significant excitement within the ADA community, with many <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> believing these developments could lead to substantial future gains for Cardano. 
<h2 style="text-align: justify" id="strong-ada-price-analysis-strong">ADA Price Analysis</h2> 
From a price perspective, Cardano has dropped 0.5% in the last 24 hours to $0.3333 and is moving within a descending channel formation on the 4-hour timeframe. Despite showing a short-term downtrend, breaking this channel upwards is possible with sufficient volume. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-380984" src="https://coin-turk.com/wp-content/uploads/2024/08/Cardano-ADA-Fiyat.jpeg" alt="" width="1280" height="538"> 
ADA’s price may find support at the lower boundary of the descending channel at $0.3188. If this level breaks, further price declines are expected. On the other hand, the price may face resistance at $0.3380, $0.3366, and $0.3637. A close above the upper boundary of the formation at $0.3380 could indicate a more positive direction in the medium term. 
Cardano’s liquidation map on exchanges shows that most margin investors are opening long positions. This indicates that the market generally expects ADA’s price to rise in the future. Technical indicators show that the Coppock Curve is positive but low at 3.5647, indicating that momentum is still weak. If ADA’s price rises above $0.3380, it could signal a significant move towards $0.3637 and beyond. 
<ul class="Summary"> 
 <li>Cardano’s price found strong support, halting its downward trend.</li> 
 <li>Hydra technology and a $1 million hack reward generated excitement.</li> 
 <li>ADA’s price may face resistance but could rise with sufficient volume.</li> 
</ul> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/cardano-finds-strong-support-and-enters-new-uptrend/" data-wpel-link="internal">Cardano Finds Strong Support and Enters New Uptrend</a></h5>
The post <a href="https://en.coin-turk.com/cardano-finds-strong-support-and-enters-new-uptrend/" data-wpel-link="internal">Cardano Finds Strong Support and Enters New Uptrend</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Cardano Finds Strong Support and Enters New Uptrend

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