Cardano’s hard fork is being touted as an opportune moment, but where’s the price?

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  • Cardano is expected to undergo the Vasil upgrade later this month

  • Crypto analyst Michaël van de Poppe sees the upgrade as a bull trigger

  • Analyst thinks ADA price has yet to include the upgrade

Cardano ADA/USD remains in a challenging bearish mode. Bearish momentum contradicts the much anticipated gains from the upcoming Vasil hard fork. The upgrade is expected around September 22.

Michaël van de Poppe, a popular crypto analyst, is bullish on ADA amid the Vasil upgrade. He cites “huge performance gains” as a bull trigger for the token. Poppe expects a price increase of $1.00 ADA if a successful upgrade occurs.

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Is the lack of momentum on ADA a concern?

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ADA is trading in a $0.45 support zone and a bear market continues. That has led the market to speculate that more significant declines are possible.

Poppe has refuted the idea, saying the most critical levels are not being hit. The analyst goes on to say that ADA is not yet getting a boost from the hype surrounding the Vasil upgrade. He says the low momentum is beneficial for the cryptocurrency. The analysts advise investors to keep an eye on the technical levels at $0.32 and $0.40.

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Source – TradingView

On the technical side, ADA is at or slightly above the key USD 0.44 support in a bearish market. Despite the anticipated Merger, ADA has moved with market sentiment. A break below $0.44 depends on the Federal Reserve’s expected interest rate decision.

closing thoughts

ADA is bearish and bulls need to quickly stop a decline below $0.44. An aggressive Fed decision could force a further decline. However, a successful Vasil upgrade could be a game changer for ADA. The upgrade, along with the Fed’s decision, will be important to ADA.

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