On Thursday, September 22, the Cardano blockchain will hold the long-awaited Vasil hard fork. A backwards-incompatible mainnet update that aims to expand smart contract capabilities, increase on-chain bandwidth, and reduce costs.
The crypto community is very optimistic about the update and expects the price of Cardano to increase. Previously, hard forks were the catalyst for ADA price increases. After two updates, the price of ADA has increased almost 40 times (see chart).
But after Alonzo’s last hard fork in 2021, Cardano’s price dropped by -80%. But it will also be true that in the same period, a bearish period began in the cryptocurrency market.
They probably now want to launch the Vasil hard fork at the “right time” so that the price of ADAUSDT starts to rise immediately, since it was first moved from June to July, and now to September.
Cardano cryptocurrency is a medium-term trade
You can try to enter into a good medium-term deal:
Entry is $0.45
Stop below $0.422 (-6.2%)
TP1 – $0.74 (+64%)
TP2 – $1 (+122%)
P/L ratio = 20/1