What's up, folks! 🙋♂️ Today I bring you the gossip about the crypto that has us all watching closely: ADA, the little coin of Cardano. And this week hasn't been going too well, to say the least! It has dropped almost 2% in the last 24 hours and 8% in the last seven days. Quite serious! 😱 Right now it's around $0.57, and just recently it was above $0.55.
It turns out that Bitcoin and the other major cryptos are also on the decline, and that dragged our ADA down. But don't worry, not everything is lamentation, there's hope on the horizon! Investors are keeping an eye on the upcoming Leios update from Cardano. 🚀
And what is this thing called Leios, you might ask? Well, look, the geniuses at Input Output Global (IOG), who are the brains behind Cardano, are going all out with this update. What they aim for is for the Cardano network to be much faster and more powerful! 💪 Imagine: more transactions in less time, and everything flows wonderfully, even when things get heated with a lot of activity. IOG says that Leios brings new mechanisms to make everything more secure and available, while boosting overall performance!
This Leios improvement is coming in strong for the fourth quarter of the year, and some say it could be the push ADA needs to take off again. 📈 In the short term, some optimists believe ADA could recover and reach $0.65. And if the "bulls" (that's what we call those who push prices up) get their act together, we could see ADA at $0.77 for the first time since May! Just imagine! 🎉
But not everything is rosy, my people. If the "bears" (those who pull prices down) continue to have control, ADA could drop to $0.5096 in the coming hours or days. The MACD (an indicator to see how things are going) is in negative territory, which means sellers have the upper hand. And the RSI at 37 also shows us that many people are selling. 😔
So, unless the story changes course, ADA could drop a little more before we see a light at the end of the tunnel. Let's stay alert and keep our eyes wide open! 👀$ADA
