{"id":20444,"date":"2022-06-20T10:12:19","date_gmt":"2022-06-20T10:12:19","guid":{"rendered":"http:\/\/egrowonline.com\/?p=20444"},"modified":"2022-06-20T10:12:19","modified_gmt":"2022-06-20T10:12:19","slug":"how-will-ada-price-react-to-cardanos-vasil-hard-fork-delay","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=20444","title":{"rendered":"How will ADA price react to Cardano\u2019s Vasil hard fork delay?"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"fxs_article_content\">\n<ul>\n<li><strong>Cardano price consolidates around the $0.470 support level after a bearish start to the week.<\/strong><\/li>\n<li><strong>A recovery above the weekly open at $0.484 could see ADA bounce to $0.550 and $0.628 depending on the momentum.<\/strong><\/li>\n<li><strong>A daily candlestick close below the $0.380 support level will trigger further losses for ADA.<\/strong><\/li>\n<\/ul>\n<p>Cardano price has been hovering above a stable but intermediate support level since May 13. This range tightening suggests that a breakout move is around the corner. While the technicals remain range bound, there seems to be tensions around the Vasil <a target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/resources\/what-are-cryptocurrency-forks\" rel=\"noopener\">hard fork<\/a> and rumors that it could be delayed.<\/p>\n<h2 class=\"fxs_headline_medium\"><strong>Vasil hard fork delay rumors<\/strong><strong \/><\/h2>\n<p>Recent reports from insiders have stated that Cardano\u2019s highly <a target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/cardano-whales-enter-buying-spree-before-the-vasil-hard-fork-202205230919\" rel=\"noopener\">anticipated<\/a> Vasil hard fork is not ready and is likely to be postponed. The Vasil hard fork, in theory,\u00a0is an <a target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/is-vasil-hard-fork-priced-in-for-cardano-202206070511\" rel=\"noopener\">upgrade<\/a> that will boost the smart contract capabilities of Cardano and the blockchain\u2019s smart contract platform Plutus.<\/p>\n<p>The insider claims that the public testnet has not started yet and that this is due to bad organization, which is terrible for stakeholders.\u00a0<\/p>\n<p>The rumor was first <a target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/cardano-developers-prepare-for-vasil-hard-fork-while-hoskinson-condemns-bull-markets-202206111132\" rel=\"noopener\">quashed<\/a> by the IOG and the Cardano Foundation who stated that this was done with the purpose of creating bubbles and trading them when they pop.<\/p>\n<p>Furthermore, Tim Harrison, the Vice President at Input Output Global stated,<\/p>\n<blockquote>\n<p>As per mid month, we\u2019re very close now but ultimately need to assess readiness of Dapps, exchanges, SPOs etc. We\u2019ll have an update for everyone Monday.<\/p>\n<\/blockquote>\n<h3 class=\"fxs_headline_medium\"><strong>Cardano price yet to give the go signal<\/strong><\/h3>\n<p>Cardano price set a swing low at $0.384 on May 12 and failed to retest the weekly support level at $0.380. Regardless, the recovery set a support level at $0.470 and rallied 46% to momentarily breach the $0.628 hurdle.<\/p>\n<p>Since then ADA has returned to $0.470 and has been trading around this level in a tight range. The weekly candlestick opened at $0.484 but Cardano price slid lower, suggesting a bearish start to the week.<\/p>\n<p>A quick recovery above the weekly open will suggest that buyers are back and likely to propel Cardano price by 13% to the immediate resistance barrier at $0.550. If the momentum is strong, ADA could reach the next blockade at $0.628, bringing the total gain to 29% from the weekly open.<\/p>\n<p><a target=\"_blank\" href=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/ADAPERP_2022-06-20_14-41-12-637913158495246638.png\" rel=\"noopener\"><img decoding=\"async\" alt=\"ADA\/USDT 1-day chart\" src=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/ADAPERP_2022-06-20_14-41-12-637913158495246638.png\" style=\"width: 950px;height: 540px\" \/><\/a><\/p>\n<p><small>ADA\/USDT 1-day chart<\/small><\/p>\n<p>Regardless of the optimism, the recovery outlook assumes that Cardano price can rebound to above the weekly open at $0.484. If sellers do not give up control and knock ADA down to produce a daily <a target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/rates-charts\/chart\/candlestick-patterns\" rel=\"noopener\">candlestick<\/a> close below the $0.380 support level, it will put an end to the bullishness.<\/p>\n<p>In such a case, the bearish momentum could trigger a 26% crash in Cardano price to the $0.278 hurdle.<\/p>\n<div class=\"youtube_cke fxs_external\">\n<div class=\"jeg_video_container jeg_video_content\"><iframe loading=\"lazy\" title=\"Cardano Price Prediction: ADA is at a pivotal point\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/nnm54h68_sM?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<\/div>\n<p>\u00a0<\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/how-will-ada-price-react-to-cardanos-vasil-hard-fork-delay-202206200959\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cardano price consolidates around the $0.470 support level after a bearish start to the week. A recovery above the weekly open at $0.484 could see ADA bounce to $0.550 and $0.628 depending on the momentum. A daily candlestick close below the $0.380 support level will trigger further losses for ADA. Cardano price has been hovering [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":716,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[44],"tags":[340,1264,7362,618,2032,195,4091,7390],"class_list":["post-20444","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ada","tag-ada","tag-cardanos","tag-delay","tag-fork","tag-hard","tag-price","tag-react","tag-vasil"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2021\/11\/cardano_Large.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/20444","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20444"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/20444\/revisions"}],"predecessor-version":[{"id":20445,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/20444\/revisions\/20445"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/716"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20444"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20444"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20444"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}