Cardano’s Vasil Hard Fork Finally Get’s a Date, How Significant is this for the ADA Price?
September, despite being bearish is coming out to be the most important month for the entire crypto space. Two of the most powerful crypto asset are preparing for their most awaited network upgrade. After the announcement of the Ethereum Merger, the Cardano community was eagerly waiting for the Vasil Hard Fork’s date.
In the latest update, the IOHK rolled out the date for the Vasil Hard Fork, and since then the ADA price is trading stronger.
VASIL UPGRADE: DATE CONFIRMED Following the successful completion & extensive testing of all core components, plus confirmed community readiness, we along with @cardanostiftung can today announce 22nd September for the #Vasil upgrade on the #Cardano mainnet. $ADA1/9— Input Output (@InputOutputHK) September 2, 2022
As the founder, Charles Hoskinson has earlier hinted on the Hard fork to be in September, now it’s confirmed to be on September 22, a week after the Ethereum Merger.
Will ADA Price Now Rise Above $1?
Ever since the date for the hard fork is rolled out, ADA price is flashing huge bullish signals. After it sliced above the crucial 50-day MA levels, Cardano seems to be poised to surpass $0.5 this weekend.
From the above chart, it is quite evident that the asset was self-assured of ranging towards the north and for that reason, it maintained its trend within an ascending triangle. The price attempted to breach through the triangle but failed. However, the ADA bulls appear to have uplifted the price above the triangle, manifesting a bullish trend ahead.
The ADA price, a year ago in September 2021 also manifested an independent rally to reach the ATH above $3, while the entire crypto space traded sideways. Presently, the asset seems to be preparing for a similar rally and eventually rising price above $1 before the Cardano Vasil Hard Fork.Source