TeaHey trading platform Robinhood has just added a few cryptocurrencies to its platform, but Cardano users are dissatisfied that ADA is not one of them. The list of Uniswap’s UNI tokens was first disclosed by Robinhood in early July.
Parody cryptocurrency with Shiba Inu (SHIB), Polygon (MATIC), Solana (SOL), and Compound (COMP) went live on the Robinhood platform in April. The trading app also included (link) Chainlink at the end of June.
As a result, Robinhood has been significantly less cautious when it comes to listing new coins to attract more customers, as shown by the addition of new cryptocurrencies over the past several months. Whether or not Robinhood will list Cardano is still up for debate.
ADA price analysis
Cardano price remained under pressure as investors await an interest rate decision from the Federal Reserve. ADA declined nearly 15% from its month highs to lows of $0.4525. Since then, there has been a partial rally towards the $0.4.50 level.
The digital asset attracted a notable fan base and continues to expand in situations where others struggle, but Cardano’s price dropped significantly from last year’s highs. Although there is still hope that it can rise to $1.
If the bulls hold the $0.51 level, Cardano price could start an upside move and even break the top boundary of the channel. As a result, a further move in the direction of the channel could lead to potential resistance levels of $0.70, $0.75 and $0.80.
Analysts expect the Fed to raise interest rates further by 0.75 percent for the second month in a row. Cryptocurrencies have historically performed poorly when interest rates are high. This also explains why the value of bitcoin and other cryptocurrencies have dropped significantly this year.