Cardano, Chainlink prepared, to dive despite partnership

The central theses

• cardano should integrate chainlink’s decentralized oracle.
• ADA adheres to weak support because the messages do not attract new buyers.
• In the meantime, link could be prepared for a downturn before its upward trend is resumed.

Input Output recently announced that Chainlink’s decentralized oracle to make it easier to access real databases. Although the mood around the partnership was positive, The native tokens for both projects did not react.

Cardano and Chainlink Bundelge forces

Input Output, the development team of Cardano, is a new strategic partnership. Received Chainlink Labor.

The goal is to enable developers to create the seamless creation of smart contracts on Cardano. By integrating manipulation -proof, high -quality external data with blockchains, digital agreements can be carried out automatically under predefined conditions.

discussion about the update, input output ceo charles hoskinson called for the structure of useful solutions on Cardano ”and the integration of Chainlink’s Orakel was“ a simple choice ”.

meanwhile, Chainlink’s co-founder Sergey Nazarov explained that developers who would create defi applications on Cardano would be able to integrate price feeds "plug-and-play" into their smart contracts.

Despite the importance of the announcement, both ADA and the link did not react. The mild reaction can be attributed to the fact that market participants concern on the effects of China's latest on virtual assets.

Ada and link with weak support

The Cardano token price had an uneventful day after suffering significant losses at the weekend. The third largest cryptocurrency after market capitalization is traded under the daily opening course at the time of the letter.

While the volatility subsides, the stagnation of Ada can continue until the next major price movement.

The most critical levels that the asset must overcome are the support of USD 1.90 and the resistance of USD 2.47. A further consolidation is likely to one of the two interruptions. However, a daily candlestick closure outside of this trend span would be a significant chance of winning.

A falling below the support would probably open the gates to take control and press the prices to USD 1.56. If the overhead resistance breaks, a renewed test of the all -time high on September 2 of September $ 3.10 could be imminent.

Chainlinkder Native asset from Link also offers a ambiguous outlook, since its price has got stuck in an ascending parallel channel since May 2019.

Every time the upper limit of this pattern has reached, it was rejected and traced back to the bottom. From this point he usually bounces back, which corresponds to the properties of a parallel channel.

After the recent rejection of the average trend line of the channel on September 6th, Link could continue to dive to test the lower trend line of the channel again at around 19 US dollars. Cutting this decisive support level could lead to a steep correction to $ 15 or $ 8, while a recovery could lead to the link could enter $ 100 in a new upward trend.

In view of the ambiguity, the Cardano and Chainlink Appropriate for dealers are of crucial importance to remain patient and to wait for a renewed test of the respective level of support. Only at these levels do the assets signal whether their respective upward trends are likely to be resumed.