Investing.com - Wallet hardware provider Ledger has announced that Cardano app version v.4.0.0 is available in Ledger Live. Among the new functionalities, the app now supports smart contracts.

This is the company's response to the fact that the blockchain has had a smart contract function since the update on 12 September 2021.

After the update to the new Cardano app, users will be able to interact with smart contracts directly from the app. However, the basic requirements are that the firmware of the ledger is updated beforehand.

Cardano founder Charles Hoskinson was very excited about this new development and praised Ledger for its great work.

Cardano technical price markers

However, Cardano did not benefit from this as it was down 5.62% today at 09:15 GMT to $0.8421.

The daily chart shows that the 78.6 percent Fibonacci retracement of the rally from $0.7478 to $1.2439 was broken.

Currently, there is a recovery from the recent low from the area of $0.8172. If it manages to sustainably overcome the $0.8540 level, the recovery can be extended towards the psychological mark of $0.90 and the 61.8 percent Fibonacci retracement of $0.9373.

Otherwise, losses to the start of the previous rally to the level of $0.7478 are imminent.