{"id":46538,"date":"2022-04-18T12:25:18","date_gmt":"2022-04-18T10:25:18","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=46538"},"modified":"2022-04-18T12:25:18","modified_gmt":"2022-04-18T10:25:18","slug":"cardano-ceiling-at-1-ada-dumps-8-as-bears-press-on","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/cardano-ceiling-at-1-ada-dumps-8-as-bears-press-on\/","title":{"rendered":"Cardano Ceiling at $1, ADA Dumps 8% as Bears Press On"},"content":{"rendered":"

The Cardano price remains within a bear breakout formation<\/strong>, as evident in the daily chart<\/a>. In the past 24 hours, the coin is down 12 percent versus the USDT week-to-date<\/strong>.<\/p>\n

<\/p>\n

Like most crypto assets, the coin is under pressure and still within a bear breakout formation.<\/strong><\/p>\n

Notably, the inability of buyers to flow back and thrust the coin above $1 may signal weakness in the short to medium term.<\/p>\n

The Vasil Hard Fork Combinator (HFC) Event<\/h2>\n

In the background, Cardano developers are continuously enhancing the protocol<\/strong>. Following the launch of the first few DEXes<\/strong> on the network, scaling issues and throughput concerns were major concerns.<\/p>\n

However, in late June 2022, Cardano will upgrade via the Vasil Hard Fork Combinator<\/strong> event. The hard fork is to improve the network’s on-chain scaling capabilities.<\/p>\n

Planned changes include the high likelihood of integrating Diffusion Pipelining to reduce block propagation times<\/strong>. There will be further changes to scripting, which experts are confident will be a game-changer, significantly increasing the ledger’s processing speeds.<\/p>\n

Cardano in the Basho Stage<\/h2>\n

By increasing Cardano’s performance, the network would better handle intensive dApps<\/strong>, especially when more dApps are set for activation.<\/p>\n

Cardano’s Alonzo Upgrade in September 2021 marked the beginning of smart contracts<\/strong>. In the Basho Stage, Cardano is being gradually and tactically optimized to handle demanding dApps. The Vasil hard fork is one of the many planned activities.<\/p>\n

Thus far, with Elon’s offer to buy Twitter facing opposition, Charles Hoskinson has offered to help build a decentralized version on Cardano.<\/strong> Such kinds of dApps will be demanding. In anticipation, Cardano developers are streamlining processes to handle such protocols in the future.<\/p>\n

Cardano Price Analysis<\/h2>\n

\"Cardano\"<\/p>\n

Cardano remains under pressure at spot rates<\/strong>.<\/p>\n

When writing, ADA is down 12 percent week-to-date and is bearish<\/strong>. Despite the undervaluation of April 12, buyers have failed to pump the coin back to $1<\/strong>. ADA prices<\/strong> are now below the April 11 bear candlestick in a bear breakout continuation formation.<\/p>\n

The drop below this bar indicates weakness<\/strong> and sellers may unload on dips since bear have the upper hand from an effort versus results perspective. Accordingly, every retracement higher towards $0.92<\/strong>\u2014or last week\u2019s lows– could be an entry for risk-off sellers targeting $0.80<\/strong>.<\/p>\n

Conversely, unexpected gains above $0.92<\/strong> and April 11 highs may see ADA<\/strong> float towards March 2022 highs at $1.30<\/strong>.<\/p>\n

Technical charts courtesy of\u00a0<\/em><\/strong>Trading View<\/em><\/strong><\/a><\/p>\n

Disclaimer:\u00a0<\/strong>Opinions expressed are not investment advice. Do your research<\/em>.<\/p>\n

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If you found this article interesting, here you can find more\u00a0Cardano News<\/a><\/em><\/strong><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Cardano price remains within a bear breakout formation, as evident in the daily chart. In the past 24 hours, the coin is down 12 percent versus the USDT week-to-date.<\/p>\n","protected":false},"author":11,"featured_media":43134,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[74,87],"tags":[5022,4632,4656,4930],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/46538"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=46538"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/46538\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/43134"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=46538"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=46538"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=46538"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}