Cardano (ADA), one of the leading cryptocurrencies on the market, has been on a turbulent path recently, with its value dropping considerably. However, a new chapter appears to be taking shape as the Chang Hard Fork, a technically significant upgrade scheduled to take place later this month, approaches. At the time of publication, the price of ADA was quoted at $0.4023, up 5% in the last 24 hours.

The upgrade, which was originally scheduled for Q2 2024, promises to significantly strengthen the Cardano network. Such optimism is fueled by the memory of the impact of the Alonzo Hard Fork in 2021. This previous event transformed the network by integrating smart contract functionality, which led to a significant increase in the value of ADA, jumping from $1.00 to a peak of $3.10, an increase of around 130%.

In the current scenario, with the imminent arrival of the Chang Hard Fork, the Cardano community and investors are expecting a similar market response. “The question on everyone’s mind: Will Cardano reach $3 again?”

In technical analysis, ADA is showing signs of a bullish comeback after a period of stabilization. Support levels have held firm, and the recent installation of Node 9.0.0 could act as a catalyst for further gains. Indicators such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) are showing positive trends, pointing to a potential price increase in the short term.

Despite the optimism, it is crucial to remember that the cryptocurrency market is extremely volatile, and external factors, including global macroeconomic conditions and regulatory changes, can significantly impact prices. Therefore, it is advisable for investors to conduct their in-depth research before making any market moves.

A key element to the continued success of Cardano and its token, ADA, is the network’s strong base of developers and supporters. Cardano is renowned for its scientific and systematic approach to blockchain development, with an elite team of engineers and researchers dedicated to the platform’s continued evolution.

The installation of Node 9.0.0 has been met with great enthusiasm by the Cardano community, and is seen as a significant step towards realizing the project’s long-term vision. With expectations rising around the Chang Hard Fork, many believe that this upgrade could drive wider adoption of the network and an increase in demand for ADA.

Disclaimer:

The views and opinions expressed by the author, or any person mentioned in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.

Source: https://portalcripto.com.br/cardano-pode-valorizar-para-us-3-com-o-hard-fork-chang/



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