Cardano cryptocurrency predicted to collapse on the eve of a historic blockchain update — 2 days left

According to the forecasts of cryptocurrency analysts interviewed by BeInCrypto journalists, the Cardano (ADA) cryptocurrency is close to falling below its annual minimum, with ADA at risk of dropping to $ 0.40 ahead of the Vasil update.

As it became known, the Cardano community is preparing for the Vasil hard fork, which will increase the scalability of the decentralized network and overall usability. Given the volatility of the cryptocurrency market, it is believed that the update will cause a drop in the value of ADA. Analysts cited the example of Ethereum, which dropped significantly in price even after The Merge.

Cardano is currently showing a decline in value, according to a chart from TradingView. At the time of writing, ADA is trading at $ 0.44, down 10.52% over the past week. The total market capitalization of the token is $ 15 billion.

Interestingly, crypto trading expert Michael van de Poppe said a few days ago that ADA is likely to target the $ 1 level ahead of the update. According to Poppe, the lack of significant momentum in the ADA price before the blockchain update will be the main catalyst for a potential rally after the September 22 hard fork.