ADA price could repeat the moves seen in previous Hard Forks.





  • Cardano (ADA) is down 7.13% in the last 24 hours.
  • The movement in the price of ADA seen recently is a repeating pattern seen in the history of crypto in times of accumulation of hard fork events.
  • Some previous hard fork events have taken place during a bullish market, while the next hard fork will take place in a downtrend.

Cardano (ADA) is down 7.13% in the past 24 hours, according to cryptocurrency market tracker CoinMarketCap.

Currently, the price of ADA is $0.6049. This places the crypto sixth on CoinMarketCap’s list of the largest crypto projects by market capitalization – below Binance Coin (BNB) and above Ripple (XRP).

This slight pullback in the price of ADA on the last day follows a rally of more than 20% in the crypto the previous day.

The recent movement in the price of ADA is a repeating pattern seen in the history of crypto in times of accumulation of hard fork events. There have been three such moments in crypto history, and it looks like Vasil’s upcoming hard fork could have a similar effect on ADA’s price.

However, it should be noted that the previous three hard forks took place during a bull market, while the next hard fork will take place in a downtrend. This may mean that instead of entering a bullish rally, which ADA price has done in the previous three hard fork events, we could see ADA establishing a strong price bottom to launch into.

ADA price retraces slightly (Source: TradingView)

On the daily chart, the price of ADA crossed above the 20 MA line and attempted to test the 50 MA line. resulted in a slight decline in price.

However, a retracement at this time could be healthy if ADA’s price can stay above the 20 MA line – allowing ADA to establish a solid base to launch as the Vasil hard fork approaches. Investors should be cautious as the price of ADA might fall back to the $0.52 level before rising again.

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