FxWirePro- Major Crypto levels and bias summary 
Wall Street Analysts Weigh in on Latest NFP Data 
Ethereum Tumbles Below $2K: Bears Eye $1,700 as All Key EMAs Flip Red 
Moody's Upgrades Argentina's Credit Rating Amid Economic Reforms 
European Stocks Rally on Chinese Growth and Mining Merger Speculation 
Mexico's Undervalued Equity Market Offers Long-Term Investment Potential 
U.S. Banks Report Strong Q4 Profits Amid Investment Banking Surge 
FxWirePro- Major Crypto levels and bias summary 
Oil Prices Dip Slightly Amid Focus on Russian Sanctions and U.S. Inflation Data 
Ethereum Cracks Below $2,000 as Bitcoin Contagion Bites—Bearish EMA Stack Sets Sights on $1,700 
Bitcoin Bleeds $704M in ETF Outflows as Institutional Exodus Accelerates 
Cardano is a fully open-source decentralized public blockchain crypto project for Ada cryptocurrency.
Consensus mechanism-
Blockchain consensus mechanism - Proof of Stake (POS) algorithm called Ouroboros which is extremely cost-effective compared to mining. Ouroboros is an innovative Proof -- Stake that aims at higher security.
Ouroboros processes transaction blocks by dividing chains into epochs, which are further divided into time slots. A slot leader is elected for each time slot and is responsible for adding a block to the chain.
Cardano has two types of layers-
Cardano settlement layer( Layer 1)- It is the base layer of the blockchain. It helps in tracking account balances, and processing transactions.
Cardano Computational layer (CCL)- It handles computational work on the blockchain.
Main features of Avalanche-
Current TPS- 1000
Block time- 20 seconds
Number of validators- 1619
Time to finality - 10 to 60 min
The Chang Hard Fork which is scheduled for Q2 2024 will be a game changer for Cardano. It addresses scalability and transaction speed issues.
As per Input Output Global (IOG), Cardano reached the milestone of 94 million transactions ahead of Chang's hard fork this year. It also reveals a total of 1300 projects running under Cardano and over 10 million active tokens. The total value locked (TVL) 548.4 million.
ADAUSD trades higher after a massive sell-off.
Any daily close above $0.50 confirms further bullishness.
ENSUSD gained more than 40% in the past three weeks. The pair holds well above the short-term (21 and 55 EMA) and long-term moving average. It hit a high of $34.32 and is currently trading around $26.97.
The bullish invalidation can happen if the pair closes below $0.20. On the lower side, the near-term support is $0.30. Any break below the target is $0.20/$0.10. Any violation below $0.10 targets $0.0070.
The immediate resistance stands at around $0.50. Any breach above confirms bullish continuation. A jump to $0.62/$0.75 is possible. A surge past $0.80 will take it to $1.
It is good to buy on dips around $0.35 with SL around $0.20 for a TP $1.
