There’s a gap between Cardano’s (ADA) struggling price performance and the project’s fundamentals, according to a popular crypto analyst.
The crypto trader Michael van de Poppe tells his 165,000 subscribers that Cardano’s Vasil hard fork, scheduled to take place on September 22nd, presents “massive opportunities.”
The upgrade aims to increase the scalability of the project.
Says Van de Poppe,
“People are assuming that we’ll be falling down even more from here, but frequently that’s not the case as the most obvious levels are usually not getting hit. In that case, [the area] around $0.32 to $0.40 is an important one to keep an eye on and should be support to avoid any market breakdown and is most likely going to sustain as the support here for the next cycle.
Finally, this means that we basically have no momentum and hype going towards the Vasil hard fork, as no clear run upwards has been taking place prior. This brings massive opportunities if the Vasil hard fork is going to take place in a positive manner, which is quite similar to the Ethereum merge. In that case, a run towards $1.00 isn’t unexpected around this event.”
ADA is trading at $0.448 at time of writing. The eighth-ranked crypto asset by market cap is up more than 1% in the past 24 hours.