Massive Cardano (ADA) Rally in Play Heading Into Vasil Upgrade, According to Analyst Michaël van de Poppe

A popular crypto analyst thinks there’s a gap between Cardano’s (ADA) struggling price performance and the project’s fundamentals.

In a new YouTube video, crypto trader Michaël van de Poppe tells his 165,000 subscribers that there are “massive opportunities” surrounding Cardano’s Vasil hard fork, which is slated to occur on September 22nd.

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.

I

Check Latest News Headlines

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Zaleman

Generated Image: DALLE-2