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Cardano [ADA]

Cardano price analysis: ADA/USD spikes above $0.31 as Korean mobile payment system adds ADA support

  • Metaps Plus announces support for Cardano.
  • ADA/USD reverses losses and gets back above $0.31.

Cardano (ADA) recovered from Wednesday’s low at $0.2983, trading at $0.3138 at the time of writing. Cardano is the seventh largest coin with market value $8.4B. It is very popular in Korea with over 46% of trading volumes are related to ADA/KRW transactions processed by Upbit.

Cardano announced a partnership with Metaps Plus. This popular Korean mobile payment platform will accept the ADA token, which is a big step for Cardano team. Metaps Plus is the first Asian mobile payment system with integrated cryptocurrency payments.

Metaps Plus CEO Kim Seungyeon said:

“I am very excited to partner with EMURGO integrating Ada coin into one of Korea’s biggest mobile payment platforms. We are simply focused on delivering incremental sales and value to our offline and platform partners along with Ada coin owners.”

Technically, ADA/USD short-term upside is capped by $0.3233 (50-SMA, hourly chart). Once it this resistance out of the way, the price may extend the upside towards $0.3335 and $3480 targets (100 and 200-SMAs respectively) On the downside, the ultimate goal is support at $0.3000, followed by $0.2900

ADA/USD, the hourly chart

ADA/USD, the hourly chart

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