- Cardano is expected for a price hike of 50% in September.
- This is due to its upcoming Vasil hard fork.
- Currently the coin is trading at $0.44.
Despite the fact that the crypto market is currently in a tumbling state, experts forecast a bullish trend for Cardano (ADA) due to the upcoming Vasil hard fork. Specifically, in September, ADA is expected to climb a 50% high in price. However, analysts also said that ADA did not undergo any price hikes in the context of its nearing upgrade.
Adding on, crypto experts also foresee a lucrative trend for Ethereum, as it is nearing its PoS merge in September.
Earlier, a price prediction algorithm predicted a $2.26 price for ADA on August 31, which did not happen, as the coin traded at $0.46 and moved even below that.
As represented in the graph, there is a bullish zone between $0.435 and $0.4324 price range on August 19, which means that people were buying more ADA coins. Likewise, a bearish zone is also projected between $0.4745 and $0.4661 zone. This depicts that there were more sellers on August 29.
In the past day, ADA touched the 200 EMA moving average and started trading down below the range. When a coin trades at this moving average, its price is at turbulence, and then fluctuates to move down.
Also, since its all-time high in September 2021, ADA has been trading low by more than 80%. Moreover, the coin slipped down from August 17 onwards and as of now, this short downtrend shows a nearly 20% dip.
At press time, ADA was registered at $0.44, with a 2.23% dip in the past 24 hours. Also, the coin was trading down by 3.8% in the past seven days.
While looking at the crypto bellwether, crypto analyst Lark Davis expects the price of Bitcoin to be on the verge of its usual “September downtrend.” If the coin’s price moves down, it will affect the entire crypto market and ADA would move down contrary to the positive predictions.
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