{"id":48897,"date":"2022-06-20T12:27:49","date_gmt":"2022-06-20T10:27:49","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=48897"},"modified":"2022-06-20T12:27:49","modified_gmt":"2022-06-20T10:27:49","slug":"cardano-adds-7-as-ada-bears-fail-to-break-below-crucial-support-level-at-0-45","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/cardano-adds-7-as-ada-bears-fail-to-break-below-crucial-support-level-at-0-45\/","title":{"rendered":"Cardano Adds 7% as ADA Bears Fail to Break Below Crucial Support Level at $0.45"},"content":{"rendered":"<p style=\"text-align: justify\"><strong>Cardano<\/strong> is perched at <strong>seventh in the <a href=\"https:\/\/crypto-economy.com\/how-will-the-rate-hike-affect-cryptocurrencies\/\" target=\"_blank\" rel=\"noopener\">crypto market<\/a> cap<\/strong> and is one of the <strong>most resilient crypto assets.<\/strong><\/p>\n<p><!--more--><\/p>\n<p style=\"text-align: justify\">Unlike most crypto assets, including BTC, which sunk last week, trending below critical support levels, <strong>ADA prices are resilient, bouncing from a vital support line at $0.45<\/strong>. At spot rates, the coin is up almost seven percent, rising with the crypto tide.<\/p>\n<p style=\"text-align: justify\">Considering the rejection of lower prices last week and the series of fundamental factors aligning with the project, <strong>ADA may be of the leading assets to spearhead the bounce in the subsequent session<\/strong>. This preview is valid as long as prices hold above $0.45 and traders remain optimistic about what lies ahead.<\/p>\n<h2 style=\"text-align: justify\">The Cardano Vasil Hard Fork<\/h2>\n<p style=\"text-align: justify\">The Cardano community is looking forward to the <strong>upcoming Vasil hard fork<\/strong> as one of the fundamental drives of price. As the development adds, <strong>the upgrade would scale the network and make it more efficient<\/strong> in handling transactions and resources demanded by active <a href=\"https:\/\/crypto-economy.com\/an-introduction-to-dapps-heres-what-you-need-to-know\/\" target=\"_blank\" rel=\"noopener\">dApps<\/a>.<\/p>\n<p style=\"text-align: justify\">This is only necessary considering that there are <strong>over 1k projects<\/strong> currently building and set to deploy high-profile protocols in DeFi and NFTs.<\/p>\n<p style=\"text-align: justify\">However, there are rumors of the Vasil Hard Fork being <strong>postponed to August due to detected glitches<\/strong> and the requirement that all SPOs upgrade to the latest version.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">As per mid month, we\u2019re very close now but ultimately need to assess readiness of Dapps, exchanges, SPOs etc. We\u2019ll have an update for everyone Monday<\/p>\n<p>&mdash; Tim Harrison (@timbharrison) <a href=\"https:\/\/twitter.com\/timbharrison\/status\/1538143428030111745?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">June 18, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"text-align: justify\">Tim Harrison, the vice president of community and ecosystem at IOHK, commented that while the system enhancement is &#8220;very near&#8221;, the development team also needs to assess the readiness of dApps and exchanges.<\/p>\n<h2 style=\"text-align: justify\">Cardano Price Analysis<\/h2>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter size-large wp-image-48900\" src=\"https:\/\/crypto-economy.com\/wp-content\/uploads\/2022\/12\/Cardano-ADA-Daily-Chart-for-June-20-1024x576.png\" alt=\"Cardano Price Analysis\" width=\"696\" height=\"392\" \/><\/p>\n<p style=\"text-align: justify\">From the ADA candlestick arrangement in the daily chart, <strong>the $0.45 zone is a critical support line for the coin.<\/strong><\/p>\n<p style=\"text-align: justify\">Reading from the formation in the daily chart, <strong>risk-off traders can load the dips, aligning with determined ADA bulls<\/strong> that rejected lower prices with safety nets below $0.45. The <strong>immediate target<\/strong>, in this case, <strong>would be $0.66<\/strong>, or June 2022 high. Extended gains would further <strong>pump ADA to $0.79<\/strong>, March 2022 lows, and <strong>later $1.21<\/strong>, marking April 2022 highs in a recovery, printing a W-Formation with clear <strong>support at $0.45<\/strong>.<\/p>\n<p style=\"text-align: justify\">Conversely, losses below $0.45 nullify the bullish preview, possibly sparking another wave of sell-off with targets at $0.30 in the short term.<\/p>\n<p><strong><em>Technical charts courtesy of\u00a0<\/em><\/strong><a href=\"https:\/\/www.tradingview.com\/\" target=\"_blank\" rel=\"noopener\"><strong><em>Trading View<\/em><\/strong><\/a><\/p>\n<p><strong>Disclaimer:\u00a0<\/strong><em>Opinions expressed are not investment advice. Do your research<\/em>.<\/p>\n<hr \/>\n<div class=\"td_block_wrap tdb_single_content td_uid_54_61419039a1883_rand td-pb-border-top td_block_template_1 td-post-content tagdiv-type\" data-td-block-uid=\"td_uid_54_61419039a1883\">\n<div class=\"tdb-block-inner td-fix-index\">\n<p><strong><em>If you found this article interesting, here you can find more\u00a0<a href=\"https:\/\/crypto-economy.com\/cryptocurrencies\/cardano-news\/\" target=\"_blank\" rel=\"noopener\">Cardano News<\/a><\/em><\/strong><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Cardano is perched at seventh in the crypto market cap and is one of the most resilient crypto assets.<\/p>\n","protected":false},"author":11,"featured_media":40122,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[74,87],"tags":[5022,4632,5463,4656,4930],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/48897"}],"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=48897"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/48897\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/40122"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=48897"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=48897"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=48897"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}