Cardano (ADA) has started final preparations for the hardfork after a successful launch on Testnet.
The developer team confirmed the hardfork in the tweet they shared on July 3. In addition, the Input and Output team stated that they will be in close contact and cooperation with the stock market and developers throughout the entire process.
With the continuation of improvements and the formation of parallel developments, if we look at the price movements technically, we can summarize it as follows:
If we start with the Bitcoin (BTC) side, it seems that it found support in the $ 19,250 region in weekend transactions.
Despite this week’s closing under resistance, we can say that the week started on a positive note. It is seen that there is a low volume market, especially due to the holiday in the US markets today, and there is a lack of volume in the general markets.
ADA, which has risen about 7% since its weekly close, continues to hold on to the $0.40 and $0.43 support levels this week.
Since the price has not yet reached the major support zone, it may be technically unhealthy to say that the decline is over here.
With the purchases made from this demand zone, if the prices move up, the resistance levels of $ 0.50 and $ 0.61 can be followed.
In addition, since the Stoch RSI data is in the oversold region, we can see that sellers have decreased in this region and buyers have stepped in instead.
To summarize; We can see the continuation of the positive reflections in the price, even if it is short, due to the fact that it is permanent with weekly and daily closures on the specified region and the effect of the future news, but we should not forget that it is still seen from the technical data that the falling market structure on the major side has not been broken and has not yet passed to the rising trend structure.