Cardano (ADA)’s long-awaited Vasil upgrade is on its way. Experts say the upgrade will reduce transaction size and lower cost for ADA holders. According to analysts, the altcoin is poised for a post-raise rally, a highly anticipated event in mid-September 2022.
Cardano Vasil Hard Fork in development
Cardano’s game-changing update, Vasil Hard Fork, is on its way, according to the developers of Input Output Global (IOG). The developers shared the status of Vasil Hard Fork’s development in a recent tweet. 40% of nodes are currently running version 1.35.3. IOG’s target is 75% ahead of Vasil’s Hard Fork.
SPOs/nodes upgraded to version 1.35.3The sentiment among Cardano holders remains positive as altcoin establishes market dominance. According to the MBLM Top Brand Intimacy 2022 report, Cardano emerged as the top crypto brand with a division score of 52.6 among the highest. The study is based on the emotion Cardano evoked in the customers surveyed. Cardano ranked twenty-sixth overall.
Cardano ranked first among cryptocurrencies. Bitcoin is second and thirtieth overall. It was followed by Polkadot and Ethereum. 2022 marks the first year that cryptocurrencies are included in the report. The report states:
This is indicative of users’ growing frustration with traditional financial services. It is possible that decreased trust and increased disdain for these institutions may lead disgruntled users to seek an alternative.
Cardano feature in MBLM 2022 reportAnalysts say Cardano price is ready for a rally
Analysts evaluating the ADA price predict a rally for the altcoin. The Vasil Hard Fork is an important event that affects the price of ADA. Analysts see this as a bullish catalyst for ADA. Bob Mason, a prominent crypto analyst and trader, says that Cardano price is heading towards a breakout after breaking the $0.46 pivot. His analyst points out the following levels:
Cardano is likely to start its rally in the broader crypto market. In the case of an extended rally, Cardano is likely to test the second major resistance at $0.48 and the third at $0.498, just ahead of the bullish target of $0.50.
ADA price chartOnce the Vasil Hard Fork is complete, analysts predict a long rally in Cardano price. FXStreet analysts have identified a fractal on the ADA chart that signals an explosive move to $0.53.
Is the big leap ahead for Cardano?
According to analyst Bitcoinsensus, if there is another price drop, it is possible for Cardano to make a big bounce from the $0.40 range. The analyst continues his evaluations in the following direction. In the past 24 hours, ADA has seen as high as $0.48. However, it later saw a steady decline. If the current $0.43 level is breached further to $0.40, ADA traders may be ready for a price drop. However, if the break fails to reach the $0.40 level, a price hike from the current range is possible.
The $0.40 level for ADA has been intact for the past few weeks. If he makes another attempt in the coming days and fails to break through, a big bounce from the $0.40 area is likely. However, if it breaks down, the bearish momentum will continue.
The $0.40 level for $ADA #Cardano is intact for the last few weeks. If it has another attempt in the coming days and fails the breakdown, it can have a big bounce from the $0.40 area. However, if it breaks down, bearish momentum will continue. pic.twitter.com/ZrzVDGOn8O
— Bitcoinsensus (@Bitcoinsensus) August 26, 2022
Vasil Hard Fork delay
Meanwhile, as you follow on Kriptokoin.com, a delay in the upgrade has also affected ADA trading. Experts expect the Hard Fork to greatly improve the scalability and performance of Cardano Blockchain. Meanwhile, indications from the developer community indicate that the upgrade is coming soon. Dan Gambardello, founder of a crypto recruitment firm, says things are looking good with Cardano lately.
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