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Cardano’s investors had long awaited Vasil hard fork upgrade. The purpose of the upgrade was to make Cardano’s blockchain cheaper. This improvement was expected to cause a pump in the market price. Contrary to this expectation, there was a decline in the price of Ada.
The disappointment witnessed after Cardno’s upgrade has made investors double-minded about the new Cardano update which is the koios-go-client v2.0.0 update. The update ought to allow easy scalability.
Key Cardano Levels To Watch — October 3
Cardano had bounced back and forth within highly defended major zones. The supply level at $0.590 has hindered the bullish run on ADA. The demand zone at 0.420 has been tested multiple times without breaking.
The downtrend was very weak on the 12th of July as signalled by the Average Directional Index. The Stochastic also indicated an oversold market as the demand level at $0.420 was tested on the 12th of July. This led to the rally back to the supply level.
The market has crashed once again to the demand level at $0.420. The downtrend is very weak as signalled by the Average Directional Index. The market is also oversold on the Stochastic. This is expected to prompt a bullish move back to $0.590.
Cardano Key Levels
Resistance Levels: $0.670, $0.590, $0.550
Support Levels: $0.470, $0.420, $0.390
Total Market Capitalization:$963.0B
Cardano Market Capitalization: $14.8B
Cardano Volume: $430.5M
Market Rank: #8
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