ADA To Pump Before Sept 22?! | Cardano Vasil Hard Fork

Cardano is about to complete its most Influential hard fork september 22nd is The date of the vassal hard fork launch But what does this mean for the price Well one year ago we had the much Anticipated alonso upgrade so i’m going To tell you about what happened with the Price when that was announced as well as When it was completed and from that We’re going to extrapolate what might Happen for the ada price moving forward So stick around until the end of the Video to get my price targets for ada Over the coming days [Music] Welcome to the channel my name is frank And this is altcoin buzz as a friendly Reminder please be informed that this is A volatile space and there is a Corresponding risk in cryptocurrency This video is informative in nature so Please do not take it to be official Financial or investment advice Also be sure to check out the link in The description below to see more Information about our 600 Exclusive altcoin buzz offer here if you Sign up with finance today you get a Whole bunch of unlockables as well as a 20 Lifetime trading fee discount and to top It off we have an extra trading Competition on binance so stick around Until the end of the video to find out

More information about that trading Competition Okay so according to coin telegraph here Developers have promised greater Scalability and lower fees from the hard Fork which will incorporate the first Major upgrade to the pluto script the Programming language used for smart Contracts on the cardano blockchain but Listen to this plutus was introduced in The previous upgrade named alonso which Took place in september last year so i Did a little digging here and the alonso Upgrade Was announced on different dates on Different websites but we have august 14th we have august 13th august 16th Last year so i went ahead and looked at What happened to the price then and you Can see that on august 16th august 13th Last year the price was in the middle of A Big big move up with a lot of volume so It was a very powerful move up we were Clearly beginning a new uptrend on the Daily chart and then the date of the Hard fork was when September 12 and what happened well the Price dumped from there and as it so Happens that was near the all-time high So it’s just a reminder that with these Announcements you often have a lot of Hype after the announcement you have the Price moving up but when the event

Actually happens you usually have a move Down and of course this can be very well Illustrated with with ethereum you see Ethereum september 15th the hardcore Completed it was even successful But As some news articles said ethereum Continues to sink post-merge down 18.5 In three days ethereum liquidations top 127 million amid post-merge volatility And all of this is despite having a Successful merge so it’s really tempting To say well if the ada hard fork works Out as it’s supposed to and the fees are Lower and everything goes according to Plan that the price will actually Recover and that may be true but it Doesn’t seem to be true for ethereum and It doesn’t seem to have been true for The alonso upgrade Last year so now what can we say about The price right now based on that Information well one thing which is very Important to note is that we are not Currently experiencing the same type of Price action as we did a year ago in September a year ago as i mentioned we Were in a very strong uptrend but now we Have been in this descending triangle Pattern which is essentially a form of Consolidation for many many months now So what does this mean this means we Have no clear trend however this is a Bearish pattern this descending triangle

Over here and why is it bearish because We are testing this support level which On this triangle is approximately the 0.418 We are testing it multiple times we’ve Come down to this box zone which i’ve Created over here and we have found Support multiple times but of course as You know if you’ve been on the channel For any amount of time the more times we Touch or support the less likely we are To actually find support there so now I’m going to give you my price Prediction for ada over the coming days Based on this information so comment Down below what do you think will happen To ada price do you think that we will Break the support and go and reach new Lows or do you think that this Descending triangle is not as bearish as It looks and that we will actually have A move up from here let me know down in The comment section below so first Things first i do not think that we will Break this support even though we are Now in the support zone i think it is Very likely precisely because of this Upgrade precisely because we still have A few more days of potential upward Price movement that we will not break This support now we may very well come Down a little bit lower to test it but My guess is that over the next one to Two days we will actually see a slight

Recovery in price so to show you what That might look like let’s go down to The one hour time frame so here we are On the one hour time frame remember this Arrow here is when a bunch of news sites Announced that the vassal hard fork was Upcoming and of course that was indeed a Good time to buy and it created a lot of Hype but over the past several days Since september 10th we’ve been in a Very clear downtrend despite this hard Fork coming upon us so really i don’t See any reason for why we’re going to Have some massive pump over the next Couple of days it seems the most likely Scenario is that we will recover Somewhat but find resistance so the First place where we will most likely See resistance is this previous double Bottom here at the 0.4536 i think it’s very very likely That we will come and test this level Over the next coming day couple of days And then the next level to be watching Is the highest point of the volume for The vrvp that’s this red line over here At the 0.4671 that would be the second target And if we really break through both of Those well we still have this descending Triangle to contend with so really it’s Hard to see us going much further than If we if we actually zoom out a bit here You can see that the vrvp is showing us

Another very important level it’s such An excellent indicator i really think It’s uh very good for everyone any Trader to use because it gives helps you Find really specific levels in any case The next vrvp highest zone is Approximately here at this 0.49 Level so my personal guess is that best Case scenario we reach this third Resistance but the most likely scenario To play out is that actually after this Hard fork we have a move down and this Is actually quite scary and let me show You why i’m going to zoom out to the Weekly time frame here so this support We’re seeing is of historical Significance because we had a high over Here back in april 2018 and now we’ve Come to test it multiple times so if we Break this it’s really going to be very Bearish and what’s more is that if come September 22nd the price is close to This support it’s a very good chance That we will actually break it to the Downside so if you are trading ada or if You are considering of entering a Long-term position in ada just be aware Of the danger which we’re currently Seeing for the price moving forward That being said these descending Triangles don’t always break bearish There is a chance that we break bullish From here and in hindsight everyone will Say well we had a major support it was a

Great time to buy But in the reality is that you only want To buy these support levels when you’ve Had one or two touches at the most but We’ve had three four touches already on This support zone so i’m not saying that The price is going to crash but what i’m Saying is that if we touch the support Zone again and again and again the Chances are higher and higher and higher That we will actually break through this Support level so the next support level Of course is the previous low on the Four hour time frame here which is the 0.425 we may come down and touch that And find support there and then the next Level is of course the previous Low over here which is a double bottom [Music] And then which is at the 0.4022 and then the final support and Again this these are supports which i Don’t think are very likely to hold but If we we are likely to see some sort of Reaction at this level at least for a Few hours The final support level is this line Which goes this horizontal support line Which goes all the way back to april 2018 which is at the 0.3938 dollar level so if you are Trading ada or thinking about entering Long positions or short positions feel Free to pause the video here and look at

The support and resistance levels which Were previously mentioned and don’t Forget that we have an exclusive offer With finance up to 600 dollars to be won And we also have a trading competition a New trading competition which makes this Deal even sweeter we have up to one Thousand dollars which can be earned on That trading competition and it’s valid For all people who trade between the 14th and 18th of september all of you Will be eligible for winning some of This one thousand dollars so feel free To check out our link down in the Description below for more information About that and in any case that’s been It from me for today i hope you enjoyed The video if you did feel free to check Out our other videos Matt and natalie post a whole bunch of Other videos Covering on chain analysis fundamental Analysis crypto news and more so feel Free to check out those videos and with That being said I’ll see you in the next one [Music]