Cardano Approaches Important Price Level Encouraged by Upcoming Vasil Hard Fork cryptomarketbag


Gamza Khanzadev

Cardano Price Action Provides Confidence Ahead of Vasil Hard Fork, Here’s Why

While the long-awaited Vassil Network update and the accompanying hard fork are just six hours away, quotes from Cardano’s native token, ADA, are showing quite an interesting and encouraging dynamic.

Since the opening of today’s trading session, ADA price is down 1% and up over 4.7%. Trading activity in ADA is also evidenced by an increase in trading volume of approximately 40%, according to CoinMarketCap,

In the general picture, the cryptocurrency quotes are revolving around the $0.455 price level, a breakout and fixing at which ADA price could move higher towards $0.6. During the day, ADA price was already climbing above the level, but it failed to consolidate and went down, making it clear that this was a false breakout.

Cardano Approaches Important Price Level Encouraged by Upcoming Vasil Hard CryptomarketBag
Source: trading view

Nevertheless, the quotes are not too far from the level, and their position is near the $0.455 level, which indicates a possibility of a retest of the level. This should be facilitated by Vassil Hard Fork, the successful implementation of which could lead to quotations.

Ripple has introduced I Remit expanded its partnership with cryptomarketbag CryptomarketBag

What Will Cardano Bring to the Table Vasil?

Named after a well-known member of the Cardano community and blockchain developer, the Vasil hard fork update will take place today in the 365 era.

The update will significantly increase the performance of Cardano, improve the Plutus smart contract platform and increase the ability to transfer new types of tokens from Ethereum to Cardano, among other things.



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