Cardano (ADA) has been struggling to break out in the past two weeks and is currently in a downtrend. The asset is trading below its 50-day and 200-day Simple Moving Averages (SMA), indicating a bearish sentiment. The Relative Strength Index (RSI) is in the neutral zone, reflecting an even match between bulls and bears. The Moving Average Convergence/Divergence (MACD) is also confirming the bearish sentiment. ADA is trading above its closest support level of $0.2752, but the bears at the $0.2973 resistance level continue to limit its price action. Factors such as crypto regulations, investor sentiment, and utility can affect the price of Cardano. Recent trends in Cardano’s network include the upcoming release of a decentralized payment solution called Hydra Pay and the implementation of Dynamic peer-to-peer (P2P) networking to improve the network’s scalability and performance. The number of active open-source developers in the crypto industry has decreased, but experienced coders still contribute to Cardano’s development. As an alternative to Cardano, Ecoterra (ECOTERRA) is an eco-friendly project that incentivizes proper waste management and offers rewards for recycling. It is built on blockchain technology and aims to combat pollution and carbon emissions. Ecoterra has unique features such as the Recycle-to-Earn (R2E) program and Reverse Vending Machines (RVMs) for recycling. Its presale is currently ongoing, and it offers users the opportunity to contribute to a cleaner environment while earning rewards.
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