Cardano price after the recent reversal from lows around $0.91 is struggling to maintain bullish momentum to hit immediate resistance at $1. However, the constant interruption of the bears is hampering the rally, but it looks like the asset may have decided to go parabolic soon.
The Cardano ecosystem is about to undergo another fork called “Vasil Fork” which is supposed to be “major”. Founder Charles Hokinson recently offered what to expect from the hard fork. He announced the fork to be undergone in June, which should bring a “massive performance improvement to Cardano”.
“As many of you know, a major major major hard fork combiner event is happening in June, which is the Vasil hard fork, and that is going to contain pipelining, which will be a massive performance to improve Cardano” , he mentioned
Will Alonzo Hard Fork Impact Repeat Before Vasil Hard Fork?
ADA price had rallied beautifully ahead of the Alonzo Hard Fork as ADA price rose to reach its ATH above $3. As the entire crypto space struggled to overcome the recent crash, Cardano is comfortably reaching new highs. Unfortunately, the asset quickly fell and has so far failed to reverse the downtrend. And now, with another fork on the way, which should be major, the possibilities of a bigger rally are also surfacing.
Currently, the ADA price is at the same level as it was just before the launch of the Alonzo Hard fork. After a huge consolidation, it looks like the price is ready for a big rally ahead. Therefore, since the previous hard fork failed to raise the price, no such spike can be seen before the Vasil hard fork. However, only if the price of Cardano rises above $1, certain possibilities of the asset triggering another reversal can be validated.