{"id":140329,"date":"2023-06-05T10:26:07","date_gmt":"2023-06-05T10:26:07","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=140329"},"modified":"2023-06-14T09:01:30","modified_gmt":"2023-06-14T09:01:30","slug":"cardano-range-below-0-38-marlowe-release","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/cardano-range-below-0-38-marlowe-release\/","title":{"rendered":"Cardano (ADA) Trades in Range Below $0.38 Despite Marlowe Release"},"content":{"rendered":"<p style=\"text-align: justify\"><strong><a href=\"https:\/\/crypto-economy.com\/knowing-cardano-protocol\/\" target=\"_blank\" rel=\"noopener\">Cardano (ADA)<\/a> prices are about 10% higher from May 2023 lows, looking at the performance in the daily chart. <\/strong><!--more--><\/p>\n<p style=\"text-align: justify\"><strong>Even though trading volumes are relatively low, at least from the recent bull bars, the rejection of lower prices in the past few days is a net positive. <\/strong><\/p>\n<p style=\"text-align: justify\">Traders should look for a trigger that pushes ADA prices above $0.38 for bull signals to load. It will be especially so if that breakout bar has high participation, suggesting support from buyers.<\/p>\n<p style=\"text-align: justify\">Conversely, ADA could continue in its bear trend if there are losses below $0.35, May 2023 low.<\/p>\n<h2 style=\"text-align: justify\">Marlow is Live on Mainnet<\/h2>\n<p style=\"text-align: justify\">ADA prices are supported, thanks in part to the continuous development in Cardano. At the current stage, Basho, the platform aims to scale on-chain while enhancing performance. A big part lies in refining smart contracts capability, a feature added in the last phase, Goguen.<\/p>\n<p style=\"text-align: justify\"><strong>Recently, IOG, the developer of Cardano, announced the release of Marlowe on the mainnet.<\/strong> Marlowe offers users tools and domain-specific language (DSL) to develop efficient smart contracts.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Marlowe goes live: be the first to explore the power of <a href=\"https:\/\/twitter.com\/hashtag\/Marlowe?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">#Marlowe<\/a>&#39;s smart contract toolset.<\/p>\n<p>Now that Marlowe has been audited &amp; deployed to the <a href=\"https:\/\/twitter.com\/hashtag\/Cardano?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">#Cardano<\/a> mainnet, early adopters can begin exploring and testing Marlowe&#39;s high-assurance capabilities.\ud83d\udc47 <a href=\"https:\/\/t.co\/nX1wyUZCLN\" target=\"_blank\">https:\/\/t.co\/nX1wyUZCLN<\/a><\/p>\n<p>&mdash; Input Output (@InputOutputHK) <a href=\"https:\/\/twitter.com\/InputOutputHK\/status\/1664217701886181378?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">June 1, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"text-align: justify\">Unlike existing language, users can utilize Marlowe even if they have no programming background.<\/p>\n<p style=\"text-align: justify\"><strong>Moreover, JavaScript, Haskell, and other popular programming languages are compatible with <a href=\"https:\/\/crypto-economy.com\/cardano-announces-the-launch-of-marlowe-a-smart-contracts-platform\/\" target=\"_blank\" rel=\"noopener\">Marlowe<\/a>.<\/strong> This feature could drastically push the number of dapps deploying on the network.<\/p>\n<p style=\"text-align: justify\"><strong>At the same time, Emurgo, the business development wing of Cardano, has <\/strong><a href=\"https:\/\/emurgo.io\/the-basics-of-cip-1694\/\" target=\"_blank\" rel=\"noopener\">forwarded<\/a><strong> CIP-1694.<\/strong> The proposal aims to bring on-chain governance and spearhead sustainable development in Cardano.<\/p>\n<h2 style=\"text-align: justify\">Cardano Price Analysis<\/h2>\n<p style=\"text-align: justify\"><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone wp-image-140352 size-full\" src=\"https:\/\/crypto-economy.com\/wp-content\/uploads\/2023\/06\/Cardano-ADA-Daily-Chart-for-June-5.png\" alt=\"Cardano ADA Daily Chart for June 5\" width=\"1225\" height=\"595\" srcset=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2023\/06\/Cardano-ADA-Daily-Chart-for-June-5.png 1225w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2023\/06\/Cardano-ADA-Daily-Chart-for-June-5-300x146.png 300w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2023\/06\/Cardano-ADA-Daily-Chart-for-June-5-1024x497.png 1024w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2023\/06\/Cardano-ADA-Daily-Chart-for-June-5-768x373.png 768w\" sizes=\"(max-width: 1225px) 100vw, 1225px\" \/><\/p>\n<p style=\"text-align: justify\"><strong>ADA is technically bullish if the March to April 2023 price action leads. <\/strong><\/p>\n<p style=\"text-align: justify\">For now, prices are in a trading range with the buy trigger at $0.38, coinciding with the 50% Fibonacci retracement level of the March to April range. On the other hand, support is at $0.35.<\/p>\n<p style=\"text-align: justify\">Overall, the breakout above or below the current $0.35 to $0.38 trade range would shape ADA&#8217;s immediate to medium trend.<\/p>\n<p style=\"text-align: justify\">Moreover, trading volumes are lower. However, the rejection of lower prices in the past few trading sessions could be the base of a recovery after the 18% drop from April highs.<\/p>\n<p style=\"text-align: justify\"><strong>Traders can look for entries if there is a comprehensive close above $0.38. If the breakout bar is wide-ranging with expanding volumes, ADA may rally to $0.42 in a welcomed recovery and trend continuation.<\/strong><\/p>\n<p style=\"text-align: justify\"><strong>Conversely, unexpected dumps from spot rates that unwind gains of June 2 may see ADA plunge to $0.35. If sellers press on, ADA may drop to $0.30, retesting March 2023 lows.<\/strong><\/p>\n<p style=\"text-align: justify\"><strong><em>Technical charts courtesy of <\/em><\/strong><a href=\"http:\/\/www.tradingview.com\/\" target=\"_blank\" rel=\"noopener\"><strong><em>Trading View<\/em><\/strong><\/a>.<\/p>\n<p style=\"text-align: center\"><strong>Disclaimer<\/strong><strong>:<\/strong>&nbsp;<em><strong>The opinions expressed do not constitute investment advice. If you wish to make a purchase or investment we recommend that you always conduct your research.<\/strong><\/em><\/p>\n<hr>\n<p><strong>If you found this article interesting, here you can find more<a href=\"https:\/\/crypto-economy.com\/cryptocurrencies\/cardano-news\/\" target=\"_blank\" rel=\"noopener\"> Cardano News<\/a>.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cardano (ADA) prices are about 10% higher from May 2023 lows but there could be more gains for ADA if there is a solid breakout above $0.38.<\/p>\n","protected":false},"author":11,"featured_media":47711,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[87,105,74],"tags":[4632],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/140329"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=140329"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/140329\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/47711"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=140329"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=140329"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=140329"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}