Blockchain Gaming
Cardano's Price Wavers Ahead of Hard Fork
Friday. August 30 at 11:30 PM
1 min. readCardano's (ADA) price has fluctuated recently, reflecting traders' caution before the blockchain's upcoming hard fork. Over the past 48 hours, ADA's price has alternated between gains and losses, dropping by 1.5% to $0.35 on Aug. 30. This uncertainty stems from traders' concerns about the impact of Cardano's Chang hard fork on ADA markets, set to launch on Sept. 1. The upgrade will introduce onchain governance, a feature already present in Cardano's competitors like Solana and Ethereum. Despite the potential network improvements, ADA has underperformed compared to other blockchain assets in 2024, with a 45% decline year-to-date. Technical analysis suggests ADA may continue to fall until reaching around $0.26, but a breakout above the wedge pattern could lead to a bullish trend targeting $0.47-0.65 by October. This article does not offer investment advice, and readers are advised to conduct their own research before making decisions.