Famous Analyst Evaluated Cardano (ADA): He Gave a Price Target for Post-Update!

Cardano (ADA) community is preparing for the Vasil hard fork, which will increase the scalability and overall availability of its decentralized network.

Despite the ongoing crypto market volatility, one analyst has speculated that the update will trigger a rally in ADA price.

Michaël van de Poppe Claims Price Target is $1 for Cardano

Accordingly, cryptocurrency Trading expert Michaël van de Poppe believes ADA will target the $1 level prior to the upgrade, noting that ADA did not witness any upside movement prior to the update, said in a YouTube video.

According to Poppe, the lack of significant momentum in ADA price prior to its blockchain update will be the primary determinant for a potential rally after the September 22 event.

Poppe said in his statement:

“We basically have no momentum or excitement as there was no clear uptrend prior to the Vasil hard fork.

This is the case of Vasil’s hard fork. Ethereum (ETH) It will bring great advantages if it happens in a positive way, which is quite similar to Merge. In this case, a surge towards $1 with this event is not unexpected.”

What’s the Difference Between Vasil Hard Fork and Merge?

The expert also compared Cardano’s upgrade to the Ethereum Merge update, stating that it was a ‘buy rumor sell news’ event. He stated that this may not be the case for ADA because the market is trying to initiate a bullish rally.

The analyst continued as follows:

“The standard ‘buy the rumor, sell the news’ concept may not apply here as we are witnessing a potential shift from the bear market that caused Cardano to fall into a bull market.”

Interestingly, Poppe pointed out that ADA’s price has fallen alongside other altcoins as Ethereum gained attention during the Merge upgrade. Therefore, he expects the interest around Ethereum to subside with altcoins poised to explode.

*Not investment advice.