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Technical Analysis
Video | Market Technical | Solid ECN
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[QUOTE="SOLIDECN, post: 211458, member: 80239"] [HEADING=1][JUSTIFY]ADAUSD - The transfer of the Vasil fork is the reason for the downward correction[/JUSTIFY][/HEADING] [JUSTIFY]Pressure on the ADA price, in addition to the long-term factor of the US Fed rate hike, is exerted by a new transfer of a key Cardano network update called Vasil. According to Charles Hoskinson, it should lead to a significant increase in network performance by launching the pipeline data processing function, expand the use of smart contracts and optimize processes for the needs of the growing volume of DeFi market applications. Initially, the fork was scheduled for June, then for the end of July and now for the middle of August. Kevin Hammond, a leading employee of Input Output Global (IOG), which is responsible for the modernization of Cardano, said that several more weeks of testing will be required to launch Vasil so that all network participants, including developers, cryptocurrency exchanges and ordinary users, can update it. Another postponement of an important update disappointed users, pushing prices down, but the pair as a whole retains long-term positive prospects. The imminent expansion of the Cardano blockchain continues to attract new projects. As Hoskinson recently noted, currently more than 100 of them are in a state of transition from the Ethereum blockchain to the Cardano network. [/JUSTIFY] [img]https://i.ibb.co/wKvKqsT/cardano.png[/img] [JUSTIFY] Currently, the price has approached the support zone of 0.495 - 0.4882, a breakdown of which will give the prospect of a decline to 0.4394 - 0.4170. The key level for the "bulls" remains 0.5371, the breakout of which may lead to an increase in prices to the area of 0.5859 - 0.61. [B]Resistance levels[/B]: 0.5371, 0.5859, 0.61 | [B]Support levels[/B]: 0.4882, 0.4395, 0.417[/JUSTIFY] [/QUOTE]
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