Cardano Price Prediction Vasil Upgrade Lifts ADA above $0.50 - Where Next

cryptonews.com:

Cardano’s bull flag is appearing despite a gloomy outlook in the broader cryptocurrency market. During the past week, ADA has gained by more than 10%, with the gains being attributed to the upcoming Vasil hard fork upgrade and the token’s listing on Robinhood.

The Cardano community has been anxiously awaiting the Vasil hard fork update. After multiple delays, Input Output Global (IOG) has announced that the Vasil upgrade will go live on September 22, which will be exactly one week after the Ethereum Merge on September 15.

The Vasil upgrade was initially scheduled to happen in June 2022 but has been rescheduled twice. IOG said the three critical mass indicators needed to realize the upgrade had not been met.

Cardano developers expect the upgrade to boost the network’s scalability and lower fees on the hard fork. It marks the first major upgrade on Cardano since the Alonzo hard fork happened in September last year. Cardano’s founder, Charles Hoskinson, said this was just part of its roadmap, and more developments would happen in 2023.

The Vasil upgrade news seems to replenish investor confidence in Cardano. The token has recorded a 12% gain during the past week, according to data from CoinGecko.

Before the Cardano developers confirmed September 22 as the hard date for this upgrade, ADA was trading at around $0.43. However, it has since registered a steady uptrend, and at the time of writing, ADA was trading at $0.486.

The Cardano Relative Strength Index (RSI) for ADA is currently at neutral zones, showing that despite the bullish flag created during the past week, ADA is yet to reach the overbought levels.

The news surrounding the Vasil upgrade is prompting more people to buy Cardano. ADA usually has a trend of gaining whenever