Santiment in an X (formerly Twitter) post Cardano (ADA) recorded the highest level of development activity in the last 30 days. explained. According to the post, ADA has made the highest number of notable Github commits over the past month.
🧑💻 Here are #crypto‘s top coins by development activity: notable #github commits, past 30 days:
NEWS CONTINUES BELOWone @Cardano $ADA
T2 @Polkadot $DOT
T2 @kusamanetwork $KSM
4 @hedera $HBAR
5 @vegaprotocol $VEGA
6 @chainlink $LINK
7 @ethstatus $SNT
8 @dfinity $ICP
9 @cosmos $ATOM
10 @ethereum $ETH pic.twitter.com/LUSDsSmxw7— Santiment (@santimentfeed) October 6, 2023
NEWS CONTINUES BELOW
Meanwhile, ADA’s price managed to rise above the 50-day EMA line in the last 24 hours. It continued to trade above this point at the time of writing. Later, altcoin It was trying to challenge the $0.2645 barrier.
Considering that it is also coupled with a medium-term negative trend line that has formed on ADA’s charts over the past few weeks, a break above this particular resistance level would be a notable achievement. Therefore, a daily candle close above $0.2645 in the next 48 hours could indicate that ADA’s current trend is bullish.
Additionally, a sustainable position above this threshold could provide ADA with the foundation needed to continue rising in the short term. If this bullish thesis is confirmed, the altcoin’s value could climb as high as $0.3180 in the next 2-3 weeks. For ADA to climb to this price point, it will first need to clear the $0.2920 resistance level.
On the other hand, Cardano may fail to close a daily candle above $0.2645 in the next 2 days. It may then pull back to look for support at the 20-day EMA line, which was at $0.2559 at the time of writing. Subsequently, continued selling pressure cryptocurrency It could drop the price of the unit to the immediate support level of $0.2375.