The Cardano charts post-Vasil are looking promising, according to Stock Money Lizards.<\/em><\/p>\n As you already know from following crypto, one of the most obvious price catalysts for a cryptocurrency project is a technical upgrade. It very regularly gives a project a spike in price in the lead-up, and then a big drop after. Cardano\u2019s smart contract release, as well Ethereum\u2019s merge, are great examples.<\/p>\n Cardano, for one, seemingly languished for almost a year after its smart contract upgrade before starting to see an uptick again as hype for the Vasil upgrade surfaced. Cardano fell from its high of $3.09 USD to as low as $0.43 by 2022. But the truth is, the Vasil upgrade never helped Cardano all that much.<\/p>\n ADA briefly spiked back up to $0.65 USD but then went back to languishing as it did since the release of smart contracts. To be fair, this was during a downturn for all of crypto.<\/p>\n Was it the macro? Interest in the project waning? General bear market blues? It\u2019s unclear why ADA\u2019s price never quite took off again. Perhaps all three options played some part.<\/p>\n More interestingly, since the release of Vasil on September 22nd, ADA hasn\u2019t dropped all that much. In fact, it\u2019s fallen just around 6.5% ($0.46 to $0.43). Compare that to the almost 20% drop in a week after Cardano\u2019s Alonzo upgrade.<\/p>\n So ADA barely sees any positive price action from a catalyst, and then barely falls after the catalyst is over. What does this say about Cardano and ADA moving forward?<\/p>\n Stock Money Lizards provided us with some charts that point to considerable upside for Cardano post-Vasil. That is, as long as everything goes as planned\u2026<\/p>\n \u201cJust like Bitcoin or Ethereum, Cardano also follows the \u201cPrevious peaks are future supports\u201c rule,\u201d crypto and stock analysts Stock Money Lizards said. \u201cThe 2018 peak is giving us a strong support signal here.\u201d<\/span><\/p>\n In other words, all that ADA price stagnation could actually be a good thing. The fact that it hasn\u2019t moved too much in either direction shows its keeping to previously held support \u2014 support that saw ADA eventually explode past 3 dollars.<\/p>\n However, Stock Money Lizards don\u2019t believe that a big move is neccesarily imminent from Cardano. \u201cThere\u2018s a descending trendline with 3 touches, we believe this could also be a scenario for Cardano\u2018s near future.\u00a0<\/span>There\u2018ll be more sideways now but we believe in this being the bottom. The weekly RSI is low aswell.\u201d<\/span><\/p>\n Beyond RSI and past price, Stock Money Lizards also looked at Bollinger bands. \u201cCardano is in a broadening falling wedge formation in the monthly timeframe.\u00a0<\/span>This setup pretty much resembles 2020. CCT Bollinger Bands Oscillator shows us. <\/span>We\u2018re once again in the oversold region.\u201d<\/span><\/p>\n However, the analysts caution that thanks to macro uncertainty \u201cwe could go sideways for 1 or 2 months before an uptrend. Downside risk in our opinion ~ \u2013 20%.\u201d\u00a0<\/span><\/p>\n Certainly, there\u2019s room for downside, all things considered. But one thing is for sure, the future looks bright for Cardano, catalysts or not.<\/p>\n ***<\/p>\n For more of Stock Money Lizards, check out their\u00a0official site<\/a>\u00a0and\u00a0Twitter.<\/a><\/p>\n For the best exchanges, <\/span>check out our top exchange guide.\u00a0<\/span><\/a><\/p>\n Sign up for our bi-weekly newsletter<\/span><\/a> for news and exclusive analysis.<\/span><\/p>\n Follow CRU News Desk on Twitter<\/span><\/a> for our latest articles and Twitter exclusive threads.<\/span><\/p>\n Learn about Bitcoin, Ethereum,<\/span><\/a> and so much more at the CryptosRus Academy.<\/span><\/p>\n Stay up to date with <\/span>George on Tik Tok<\/span><\/a>, <\/span>Instagram<\/span><\/a>, and his <\/span>brand new clips channel.<\/span><\/a><\/p>\n \u00a0<\/p>\n <\/div>\nCovered:<\/h2>\n
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Cardano Post-Vasil<\/h2>\n
![\"Cardano](\"https:\/\/cryptosrus.com\/wp-content\/uploads\/2022\/10\/chart.png\")
<\/a><\/a><\/div>\nStock Money Lizards On Cardano<\/h2>\n
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