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08/26/2022

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Cardano Outpowers Bitcoin Prior to Vasil Hard Fork Intensifying the ADA Price Rally

The post Cardano Outpowers Bitcoin Prior to Vasil Hard Fork Intensifying the ADA Price Rally appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide Cardano’s Vasil Hard Fork is the next most anticipated event after the...

Cardano Outpowers Bitcoin Prior to Vasil Hard Fork Intensifying the ADA Price Rally

Cardano’s Vasil Hard Fork is the next most anticipated event after the Ethereum Merger. IOHK has constantly delayed the fork but assures the upgraded blockchain to have increased throughput with developed smart contracts & dApps. However, in the meantime, the ADA price which had lost its grace of let made some larger moves on either side.

The platform received a significant influx of liquidity during the early trading hours that raised the price by more than 3%. Woefully, the bears quickly dropped the price below its initial levels, from where the price began with a strong recovery.  

Despite significant bearish pressure, the ADA price still stands elevated above the symmetrical triangle, unending to surpass $0.5 before the day’s close. 

ada

During the last weekend, crypto markets faced a strong bearish action that dropped the price by more than 13%. Since then, the asset maintained a consolidated trend within a symmetrical triangle. It was strongly believed that the asset may drop to the lower support as the price was trading within a bear flag. 

However, the latest push has now nullified the bearish scenario for some time ahead. 

Cardano Among the Top 30 Intimacy Rankings

Cardano is now the most intimate crypto ahead of Bitcoin as per the list put up by MBLM, a brand Intimacy Agency. The agency has listed the brands which have a closer connection with their consumers and the relationship among them. Cardano stands 26th after Adobe & Ford, while Bitcoin is ranked number 30. 

Disney tops the list with a score of 68.1, followed by Tesla & Apple with 67.5 & 65.3 ratings. However, Cardano’s score is around 52.6, while Bitcoin’s is 51.9. Interestingly Polkadot too made it into the list, standing at 111 ranks with a score of 43.5 while Ethereum came in at 120 with 42.8. 

Collectively, the market and social sentiments are slowly coiling up which are expected to offer a strong base for the ADA price to propel. Once the asset secures the levels above $0.5, then a notable upswing could be imminent.

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