Cardano ADA blockchain’s solution for scalability, Hydra received a fresh update in a pre-release version. The Cardano ADA recovered its losses from past week and analysts revealed a bullish outlook on ADA.

Cardano developers announced a new release for Hydra

Cardano’s scalability solution received a new update Hydra 0.8.0, from Cardano developers. Sebastian Nagel, Hydra’s developer shared a GitHub release introducing several changes to the API, fixed bugs in the Hydra chain node and improved the overall experience.

Several improvements and changes have been made to Cardano’s layer-2 scalability solution. Developers have devised a mechanism to compute transaction costs and report them in the transaction cost benchmark.

Ethereum’s competitor Cardano ADA witnessed a steep decline on October 26 amidst market-wide drop in cryptocurrency and S&P 500. Over the past week, Cardano ADA yielded 16% gains to holders and made a comeback above the price of $0.38 level.

Bob Mason, a leading cryptocurrency analyst has identified $0.41 as the next key resistance level for ADA price in its uptrend. The analyst believes that a breakout past at $0.41 would signal a continuation of the bullish price uptrend. ADA would need the support of the broader market for continuation of its climb towards the price of $0.431 target.

Bob Mason argues that in the event of an extended price rally, Cardano ADA price is likely to hit second major resistance level at $0.431 and the third major resistance at $0.464.

Bob Mason believes that a bullish crossover of the 50-day EMA line through the 100-day EMA line would signal a move from resistance at price of $0.418 to the next major resistance level at $0.431. However, a decline through the 200-day EMA line at $0.398 could result in a trend reversal and a drop to the price of $0.385.

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