Cardano critic Mike Alfred left a coded message on the ADA? The famous Bitcoin maximalist continues his suggestive comments, referring to the key support of ADA at $0.45.
Mike Alfred: Cardano has been bouncing around 45 cents for months!
Cardano critic Mike Alfred may have unknowingly left a coded message about the price of ADA for a recent tweet. Alfred continues his usual way of mocking his Blockchain. Accordingly, it refers to the key support at $0.45, where ADA has recovered several times since July. The BTC maximalist sarcastically highlights the potential for growth from this key level as long as ADA stays above this point. Alfred shared the following on the subject:
Cardano has been bouncing around 45 cents for months. It looks like it has found a permanent home on this level. The good news is that if it can hold up here for the next 15 years, we’ve given the protocol enough time to be overvalued. This is a wish.
In the previous examples, ADA hit the low on July 18 from $0.45 to $0.548 on July 20. Thus, it increased by 23% and hit its highest levels on 20 July. In another example, ADA surged from the low of $0.45 on July 26 to $0.555 on July 30. Here, too, it gained 21%. This month, Cardano rose 16% from the September 7 low of $0.453 to $0.524 on September 10. Currently, Cardano is trying to recover from the September 16 low of $0.454.
Crypto analyst Tomiwabold Olajide provides the following technical analysis for ADA. At press time, ADA was trading marginally at $0.476 as the bears tried to leverage their advantage. If the price drops below $0.45 and sustains, it is possible for ADA price to gain support at $0.42. The $0.45 support provides the same potential for further price hikes as in the past. To take the initiative, the bulls need to surpass $0.524 and $0.594.
Equity markets became tightly correlated with cryptocurrency markets in 2022. There are gloomy forecasts for the stock markets. Therefore, given this situation, ADA is unlikely to be successful. “Cryptocurrency has never been stronger,” said Charles Hoskinson, creator of Cardano. However, reality is not always represented in markets currently driven by macro factors,” he said.
Vasil’s main-net offer has arrived
Cardano hit the last mile for the Vasil upgrade. Tim Harrison, VP of Ecosystems and Community at IOG, shared about progress. Harrison used the following statements:
Vasil successfully submitted the upgrade proposal to Blockchain this weekend, the IOG and Cardano Foundation team. Cardano is ready and Vasil arrives on September 22.
cryptocoin.comAs you follow, according to the distribution timeline shared by IOG, the developers are planning to Hard Fork the pre-production environment Vasil/Babbage Era on September 19. The team is scheduled to hold the main-net hard fork event on September 22. It will then release the new Plutus functionality and cost model in the pre-production environment on September 24 and on the main-net on September 27.
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